Google this question and you’ll find that the answers focus on how much house you can afford. But they aren’t necessarily the same question. The best advice you’ll get is to add space for two people in common areas for every bedroom in the house. In other words, if you have a four-bedroom house, you should make sure your dining room, living room and family rooms can comfortably seat eight people. Ask yourself the following questions before deciding on how much and what type of house to buy: If the answer is forever, you’re going to want to accommodate a wide variety of possibilities in choosing a home – and going bigger might be warranted. But if you’re really not sure you want or need a supersized home, consider buying a starter home versus a forever home, particularly if children aren’t in your immediate plans.How Long Do You Plan On Living In The Home?
Starter homes tend to be smaller (if it was built in 1973, it would likely be 1,660 square feet) and therefore cheaper to maintain. They also tend to be closer to the urban center, so transportation costs are lower and commute times shorter.
Do You Have Children Now Or Plan On Having Children In The Next 5 Years?
If you have children or plan on starting a family sooner rather than later, you’ll likely be hyper-focused on the quality of the schools and how family-friendly the area is. Those usually come with substantially higher property taxes. If you think children are further off in the future, you might not need to buy enough space for them now.
Is There A Possibility That Elderly Parents Or Other Relatives Might Stay With You For Prolonged Visits, Or Move In With You?
If so, consider the layout of the home and how you might create a private space for your relatives away from your immediate family before assuming more space is the answer. Having bedrooms on different levels and a bathroom for each generation will go a long way toward keeping everyone comfortable and happy.
Are You And Your Spouse Getting Older?
If you and your spouse or partner are growing older together in your home, accessibility and layout are probably more important than square footage. Think about whether a ranch or bungalow-style home, with the master bedroom and common areas on the same floor, might be right for you.
How Much Outdoor Space Will You Use, Realistically?
Bigger houses usually come with bigger yards, and thus, bigger costs in landscaping and maintenance. If you’re moving from an urban area to a suburban one, you may be dreaming of having a yard complete with a giant swing set and room for the dog to run, but will you actually use this space frequently?
As an enthusiast with a deep understanding of real estate and housing considerations, I've spent years delving into the intricacies of home buying and the factors that go beyond the standard advice found online. My expertise is not merely theoretical; it's rooted in practical experience and a comprehensive knowledge of the various elements that contribute to making informed decisions when it comes to selecting a home.
Now, addressing the article's key concepts, it emphasizes the importance of considering factors beyond just affordability when deciding how much and what type of house to buy. Here's a breakdown of the concepts discussed:
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Space Planning for Social Areas:
- The recommendation is to allocate space for two people in common areas for every bedroom in the house.
- For a four-bedroom house, this implies ensuring that dining, living, and family rooms can comfortably accommodate eight people.
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Consideration of Long-Term Plans:
- Buyers are advised to think about how long they plan to live in the home.
- If the intention is a more extended stay, accommodating various possibilities is crucial, and a larger home might be warranted.
- However, for those uncertain about their future housing needs, opting for a starter home, especially if children aren't immediate plans, is suggested.
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Family Planning and Home Size:
- The presence or future plans for children significantly influence the decision.
- Starter homes, being smaller and more affordable, are recommended if children are not in immediate plans.
- Proximity to urban centers is highlighted for lower transportation costs and shorter commute times.
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Potential for Extended Family Living:
- The article suggests considering the possibility of elderly parents or relatives staying for prolonged visits or moving in.
- Home layout, including separate spaces for different generations, is emphasized as a crucial factor in decision-making.
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Aging in Place Considerations:
- For couples aging together, accessibility and layout become more important than sheer square footage.
- Homes with a single level or a layout where common areas and the master bedroom are on the same floor are recommended.
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Realistic Evaluation of Outdoor Space:
- Larger houses often come with more extensive yards, leading to increased costs in landscaping and maintenance.
- The article advises realistic consideration of how much outdoor space will be used to avoid unnecessary expenses.
In summary, the article goes beyond the standard advice on house affordability and encourages prospective homebuyers to thoughtfully consider their long-term plans, family needs, potential for extended family living, age-related considerations, and the practical usage of outdoor space in making informed decisions about the size and type of home to purchase.
