Ready To Upsize Your Home?
Category Property Advice
Do you feel that you and your family are living on top of each other or that your property no longer matches your lifestyle? If the answer is yes, then it might be time to upsize your home. While homeowners generally think that there are more benefits to staying in a property for a long time - it does not make sense to reside in an uncomfortable space.
When you outgrow your current property, it doesn't matter how much you love it. It may be time to look for something bigger.
Let’s start by taking a look at some common reasons people decide to upsize their home:
Family
As the main motive behind most people’s decision to upgrade to a larger abode, a growing family is a clear sign that it is time to upsize. Whether your kids are getting bigger or if you are expecting a new member of the family - a bigger house will allow for more comfortability. Upsizing also gives your family the option of growing, making it easier to plan for the future.
Space
When your home starts looking like a storage unit, with sporting equipment, toys and other miscellaneous items taking up every nook and cranny, it could be another indicator. When your home runs out of storage space it becomes difficult to run a fully functional household. If you can’t downsize your possessions - you should look at getting a home that can accommodate your storage needs.
Needs
When you initially move into a house you may not always think about how your needs will change. For example, when buying the property you looked at the great nightlife your neighbourhood has, not if there were any good schools or emergency services close by. As your lifestyle and family changes, so your needs will evolve.
Now that you have identified why you are upsizing your home, what is your next step?
- Identify Your Goals: Before you upgrade from your existing home, carefully consider what your property goals are. Understanding your goals will help you to identify exactly what you want while house hunting.
- Finding an Expert: When you look for a new home, it is advisable to work with a local property expert. Someone who will be able to help you navigate the current market, complicated jargon and any other related tasks. By working with a real estate specialist, you can better ensure that your upsizing journey goes smoothly.
- Selling Your Home: Once you have found a bigger property you would like to live in, you are left to decide what to do with your current home. If you sell it, the money generated from the sale can be used as a downpayment on the new property. If you don’t sell it, you can utilise it as an investment, renting it out for a monthly income, which will help with your own repayments. The choice is ultimately up to you and your personal circumstance.
If you are looking to upsize your home, look no further. Currently available is a four bedroom home located in the central suburb of Newlands. Boasting generously spacious rooms and living spaces, this home is a must see if you are considering upgrading to a bigger property. Whether you are in the market for a large home in Newlands or other areas in and around Cape Town, Knight Frank has extensive stock in some of the most sought-after suburbs in the Western Cape. Contact our professional property team for more information.
Author: Knight Frank