Back to Blog

Home Upgrade: Is it Time to Buy a Bigger House?.

Overstuffed Chair in Older House

If you have owned your home for a while, you may be ready to upgrade to a bigger house; but before calling the movers, consider why you want to move and what the financial impact of owning a larger home could be.


Some Things to Consider before Buying a Bigger House

Current Home Size Is too Small

I bought my current home when I was in a different stage of life. I was still in the newlywed stage of my marriage and it was only me, my husband, and our dog. A few years later came two lovely children. As my children have grown it has made me reevaluate our current living situation. I am proof that a smaller, affordable starter home may not be a forever home. If you’ve outgrown your space, it may be time for a home upgrade.

Finances Have Changed

There are two sides to the finance coin. If you can afford a larger property and the bills that will increase with it—mortgage payment, insurance, taxes, utilities—then go for it. If having extra monthly expenses means you cannot contribute to your retirement account, save money in an emergency fund, or have money for vacations, you may be happier in your current home. Having a larger dwelling with more space is wonderful, but you may not want to do so at the expense of your other financial goals.


Two People Looking at Solar Panels

Save on Solar

Reduce overall solar costs with a low-interest Energy Improvement Loan from VSECU.

See our rates


How Buying a Bigger House Can Affect Your Pocketbook


Repairs that seem affordable in a smaller home are going to cost more in a bigger house. Your roof will not last forever, nor will your deck, windows, or other structures that need maintenance over time. Building materials are not cheap, and you will need to purchase more of them to complete a job on a larger property. On the interior, you may end up spending money on new furnishings. Your old furniture may not work for your new home, and a larger space may mean a bigger furniture budget. Depending on what is purchased, furniture can cost several thousands of dollars.

Hiring For Services

Larger properties typically come with larger lawns to mow and flower beds to maintain. While it is doable to take care of yourself, you may need to purchase items to complete your yard work (mower, general yard maintenance tools, etc.) or consider hiring someone to help care for the property. On the inside, greater square footage equals a bigger time commitment to clean your home. A housekeeper may be convenient, but will add another expense to your move.


Whether you stay in your current home or move, your home should be your sanctuary. I know when I pull into my driveway at night I feel like I can let go of the day and relax. Your home should give you a sense of peace in an otherwise crazy world. Make sure you’re going home to the right dwelling for your life.


Not a Member?

Join a values-based credit union that puts people over profit.

Join today
Caroline Cross - Bio

About Caroline Cross

Caroline Cross is the branch lead at VSECU's Williston branch. Her daily interactions with members can range from opening accounts to closing consumer loans. Caroline lives in Williston with her husband and two children.
Reading on Phone

Stay informed

Stay up to date on financial tips, tricks, and tools that will build your financial literacy and help you live a more prosperous life.

Subscribe now!