How To Know When It Is Time To Move House
Whether it is upgrading or downsizing, moving a house is always a risky affair. New place, new neighbourhood and a completely different set-up might give you cold feet. Therefore, it is imperative for you to assess your needs in the right way and read the signs if you really need a big home or a modification would serve the purpose.
- Is your family expanding?
Moving to a new house is a good decision if your family is going to expand. For instance, a 1BHK won't serve the purpose if you are getting married or even when you are planning a family. You need more storage space, more furniture and place to accommodate your regular guest. As the family grows, the need for a bigger house becomes more important.
- Is this neighbourhood no more suiting you?
Years back when you moved in here, the neighbourhood might have suited you. For instance, if you moved in here during college days, you might have wanted to stay in this area where there is a younger crowd. But as your kids are growing up, this environment doesn't suit you anymore. Moving out to a place where your children can get a company and like-minded company is a better idea.
Another instance can be if your neighbourhood is degrading. For instance, your colony being transformed into a commercial hub rather than an affluent residential area is a clear sign that you should move out of the area as you won't like to stay amidst the bustling hub which might not be comfortable for a healthy living.
- Are you spending more time in commuting?
If you have been travelling for work for more than two hours a day, you don't need more signs to understand the situation. Move close to the workplace where you can save commuting hours and use that time more productively. Traffic jams, congestion and driving make you unproductive not just at work but at home also. Don't let the travel take a toll on your health and life, better to look for options close to your office if your budget allows.
- Is frequent modifications and repairing costing you more than a new home?
That seepage through your bedroom walls or the leaking ceiling or the faulty drainage and sewer problem is costing you a major chunk of your income and high-stress level, then surely it's time to start fresh. However, keep in mind the expense and move out only if you have been delaying a purchase previously due to time or other constraints.
- Is the locality no more appealing for future buyers?
Unless you are living in a metro city, every locality might witness fall or rise because of infrastructure failure or development. Understand the market signs, it is better to sell your property now than to sell it at a lesser profit later. Analyse the situation and check out what are the price trends in your locality.
- Is this home too big for you?
You had a family of four when you bought this 4BHK house but your kids moved out for further studies. To manage and upkeep the house may now be troublesome and you have little time and energy to spend on it. Downsize your residence to a decent 2BHK where you will have enough space for your spouse and yourself. This will not just bring down your expenses but would be a lot more stress-free.