Planning A Bigger Home? Consider These
Samisksha and Keshav Gandhi, a Gurgaon-based couple, bought their abode 15 years ago, soon after they tied the knot. Now, after three children, their 2BHK apartment doesn't seem enough to fit all and serve their needs. The couple is now contemplating on moving into a bigger apartment where the couple and each of the three children can have a room of their own. Upsizing has become the need of the hour.
So, what is that the Gandhis should be considering before they upsize and move into a bigger apartment? MakaaniQ lists certain things to keep in mind before you opt for upsizing:
What needs upsizing?
Upsizing can be specific, too. Sit down and list areas of the property that need upsizing. So, are you looking for bigger kitchen? A bigger balcony? Or, bigger rooms and bathrooms. Know why do you need any of these bigger. These things have to be pinned down before you begin house hunting. Put these prerequisites across to your property agent.
Do you need more rooms or more space?
A spacious home and a home with more rooms can be two different things. A property which has more square foot space may still have two bedrooms. Determine whether you need a property that is spacious or has more rooms to accommodate the number of people you are. While you might be swayed away by a spacious property, but, will this space be usable? For instance, in case of the Gandhis, they would need a property that has more rooms to accommodate three of their growing children.
What do you need?
When upsizing, know what miscellaneous additions you need. Now that you are upgrading, why not upgrade amenities, too? Larger homes come loaded with premium amenities as well. But, do you really need these amenities? For instance, some large properties boast play areas, home theatres, pantries or special storage room. Decide what is a utility and what are mere fancies that you don't want to pay a premium price for.
How do the finances look?
Thinking of upsizing? Know how your finances look. With a bigger home will come bigger expenses. First, the property will be expensive. Second, with more square footage come higher taxes, maintenance charges and utility bills. Moreover, more space would mean more furniture and decorative, too. Be prepared for the expenses that will come your way.
What will be the resale value?
This should also be a concern. However big a property, you may not stay forever. When buying a property always know the kind of resale value it might fetch you in the future. Hence, look at the property also from the eye of a potential future homebuyer who would want to invest in the property.