In the recent past, upsizing seems like a natural progression for homeownership. People are taking advantage of the low property prices to move into bigger spaces. The feeling of moving into a bigger house could be liberating especially if you were squeezed in a small space for too long.
If you are planning to upsize, there are several villas for sale in Dubai. When buying any off plan property dubai, it is good to consult top Dubai real estate agencies to get the best deals. Currently, various new projects in Dubai are expected to be completed soon.
Here are factors to consider before moving to a bigger house:
Why you need more space
Before making any decisions, you should consider why you need more space. Is it going to be the solution to your needs? For instance, if your family has expanded than when you moved in, relocating to a bigger house may be a good option.
The amount of space you need to add
If upsizing is still the right option for you, you should consider exactly how much space you need to add. Upsizing does not necessarily mean going for twice the current size. Smaller changes like an extra bedroom or a larger open plan living space can make significant differences.
The added costs
Even though you will get more space, a bigger house comes with a bunch of other costs that you may not have incurred in your previous property. You will have to consider whether your income will be able to manage the larger mortgage. Apart from the mortgage, a large house may come with other expenses such as insurance, power and water bills among others.
Upkeep and maintenance
One thing that most people fail to consider is the amount of work involved in running a larger house. Since there is more space to clean, you will be spending more time than you used to in your previous house. If the house comes with a garden, lawn or a pool, you will be spending a significant portion of your time doing the chores.
Alternatives to upsizing
Before deciding to upsize, it is good to consider other alternatives. For instance, can renovation help to achieve similar results? However, you have to consider whether the cost of renovation exceeds the cost of buying a larger house.