If you are looking for your next home, it’s natural to assume that you should buy the biggest home you can afford. Certainly if you need a big home, then this is the right decision, but if not then there are other ways to maximize your investment that doesn’t include more square feet.
Bigger isn’t always better. If you don’t need 4 bedrooms, then why spend your money on that? There are many other ways to spend your money.
- View – View homes will always command higher sales prices than those without. If you enjoy a distant vista, use your money for a view and enjoy better returns when you sell.
- Space – Space is not only counted in square footage, lot size also adds value and enjoyment to a home.
- Amenities – Ask anyone who has looked at upscale retirement communities about amenities and how they contribute to qualify of life. Golf courses and lake front homes increase value as well as value.
- Location – The old adage of location, location, location is true. From the craftsman cottage in the historic downtown to a trendy urban loft, choosing a home in the right location is critical to building value.
Choosing the right home is not simply about resale value, but that doesn’t mean you shouldn’t think about it. First and foremost choose a home that fits your needs and lifestyle, but if that’s not a huge house on the hill, there are other options that are just as good. The bigger house is not necessarily the best choice.