When you first purchased your current home, you loved it. It was the perfect size, in the ideal area for you and your young family. But now that your children have got older (and bigger) and perhaps your family has grown further, your home has begun to feel a little too small to meet your family’s needs.
While you don’t particularly want to sell up and move to somewhere new, you’re aware that moving to a larger home is what’s best for your family. So, you’ve started looking at your options and are actively thinking about upgrading your current home for a larger and more spacious property that will be a better fit for your family’s needs.
However, there’s a lot that you need to think about, after all, the process of moving to somewhere new and buying a new property is rather complex, isn’t it. It’s not as simple or straightforward as finding a house, signing on the dotted line, and moving in, there’s a lot more to the process than that.
Wondering what some of the ins and outs may be for moving your family to a larger house? Below is a guide to everything that you need to know about swapping your home for a larger and more spacious property.
Start with your budget
The first step, when it comes to upsizing your home is to start with your budget. You need to determine what your budget will be for moving to a new, larger home. But how can you work this out?
A great step to take is to get your current property valued so that you are aware of how much value your current home has and what profit you might make from selling it, if the value has increased over time, that is.
It’s important to be clear about your budget and match that up with your expectations for your next home. It’s important to be realistic about what you can afford to buy, so that you don’t end up disappointed.
Think about the features you want
The next step is to take the time to think about what features you want (and need) your new home to have. By working out what additional features you would like your new home to have, such as space for a home office, a playroom, or extra bedrooms, you can improve your focus when it comes to sourcing properties worth taking the time to view.
It’s also worth taking the time to write a list of features that you want along with features that you need your new home to have. For instance, you might want your new property to have extra bathrooms but you might need it to have extra bedrooms – it’s important to determine the difference between wants and needs.
You need to be clear about what your priorities are when it comes to choosing a new home so that you’re able to look at the different options with a clear list in mind. (This should help to make the purchasing process a little simpler and easier if you’re clear about what you want from the get-go.)
Research the local area
If you’re going to find the right property, you might need to move to a new area, which means that it’s worth taking the time to think about what other local areas you might be willing to move to.
Not got much experience visiting the other local areas or know too little about them to make a decision about moving there? Take the time to do some research about each area that you may potentially move to.
Visit each area, both during the day and at night, to see what the vibe is like at different times of the day. Ask local people what they think of the area – speaking to people who live in an area is a great way to get to know more about it.
You can also find out lots online about different areas, by taking the time to do some research, as well as posting in local Facebook groups to gain a better insight. (You would be amazed at the amount you can find out about different areas via community groups, so it’s well worth taking the time to post in them.)
Get the location right
When it comes to choosing a location for your new home, it’s important to not only think about where the properties are cheapest, but also what the location offers you and your family. It’s important to choose a location that offers your family a wide range of different amenities and takes into account your family’s exacting needs.
For instance, look at how far the property is from your children’s schools and where you work, and ask yourself how easy drop-offs and pick-ups will be. Think about whether the property is close enough for your children to still see their friends regularly outside of school with ease.
It’s also worth looking at what amenities there are close by. Are there local shopping facilities that will cover your grocery needs, for instance? Think about where you like to buy your groceries from and look into what will be available nearby for you to utilize when it comes to your shopping needs.
It’s also worth considering what transport links there are in your local areas, such as train stations and bus stops, and how often transport runs. (If you’ve got older children, this is even more important, as older kids and teens like to be independent.)
It’s little things like this that make the biggest difference to how happy you and your family may be in your new home, so it’s worth taking the time to carefully think them through, and consider each aspect of things carefully.
Get your new mortgage in place
It’s also important that you take the time to look into the process of getting your new mortgage in place, ahead of your move. Before you even start looking at new properties, it would be a smart choice to take the time to look into the process of getting a new mortgage approved.
After all, the last thing that you want is to find a new home that’s a perfect fit for your family and is within your price range, but you’re unable to buy it because your mortgage isn’t set up. So, it pays to get this sorted as quickly as possible, and as early in the moving process as you can. (Getting a new mortgage in place should be super simple, it’s just a case of being organised, that’s all.)
Not sure where to start when it comes to taking out a new mortgage to buy a larger family home? Don’t panic – there are plenty of support resources that you can utilise. Online there are plenty of guides to how you can take out a mortgage to cover the cost of a home upgrade to a larger property.
If you’d prefer to speak to someone in person, consider sourcing a property financing specialist who you can discuss your mortgage options with. Working with a specialist on this will come at an additional cost, but if it means that you’re able to get the very best mortgage in place that fits your specific needs, then it’s a worthwhile cost to pay.
Don’t forget the extra costs that come with moving
When it comes to moving house, it’s easy to forget the additional costs that may come with the moving process. So, if you want to make sure that your house move is affordable, it’s a good idea to be clued up on the extra costs from the get-go.
The extra costs associated with moving can cover a whole range of different things, from stamp duty and conveyancing (to learn more about this, take a look at this conveyancing guide) to moving costs and property updates and repairs. The fact is that moving house rarely comes cheap, the whole process is always rather expensive.
So it pays to take the time to think about how you are planning to cover these additional moving costs. After all, the last thing that you want is to find a new home, put in an offer and then discover that you’re unable to afford to move. So, being mindful about the extra costs that come with moving house is vital.
If you’re not sure how to effectively tot up the extra costs that may come with moving, it might be worth speaking to a moving specialist who should be able to give you a break down of the costs that you can expect to pay out, from the cost of hiring a moving van to the price to deep cleaning your previous property, there’s a lot to take into account.
There you have it, a guide to some of the ins and outs of swapping your family home for a larger space, and how you can ensure that everything goes smoothly from start to completion.