Should you buy a home with bigger space?

Evan Smeenge  |  August 18, 2022

space

Modern living often requires that you have a large space that can accommodate not only your current needs but also your future needs. Growing families, the need for home offices, having a large space for hosting or wanting a larger outdoor space could all influence your decision and make you choose a home that has more space. However, that space is not always needed, nor is it always desirable. For this reason, before deciding to buy a bigger home, you may want to consider the following parameters. 

  1. Is the space needed? 

A big house that you are unable to maintain properly or take full advantage of may not always be desirable. It is important to remember that apart from the initial cost that you will need to bear to purchase your home, you will also need to pay yearly taxes on the property. The larger the property, the higher the taxes. Therefore, if you have no real use for the space, then you may want to consider looking at houses for sale in Chicago’s more desirable areas rather than choosing a larger home in an area that you do not love. 

  1. Understand your future needs

While your current needs are important for determining the type of property you buy, your future needs are equally important when making a home buying decision. What that means is that while currently, your home may fit your needs, you may in the future wish you had something a tad larger.. doesn't matter if it's a condo, single-family home, or multi-family home. As your family grows, your housing needs also will, and that house that was once perfect may no longer be so. A great way of avoiding having to buy and sell houses several times is by planning ahead. If you can already afford your dream home in Chicago or the Chicago suburbs (and that's where you want to be), there is no reason to settle for real estate that is less than what you wanted. Eventually, as your family grows, you will be able to utilize in full the home you purchased without thinking that it is too big for you, and yay, you don't have to go back into the Chicago real estate market for a bit. 

  1. Location 

When purchasing a home in Chicago, location is everything. From commuting to your work to the school district, when buying a condo or a single family house, these will be considerations to take into account. In some cases, it may be worth looking at houses for sale in Chicago areas that fit your lifestyle even if they are smaller, rather than choosing to move miles away to buy a larger property that does not fit your life. When it comes to investing (if you are thinking about house-hacking), location for Multi-family homes is so much more important with the eventuality of renting out the property.

  1. Home purpose

The most important thing when buying a home is to determine the purpose of the home and each space within it. If, for example, you want to host others often, then you may want to choose a home with a bigger living space. If you are mainly purchasing a home because you want a space where you can have dedicated spaces for your work and hobbies, then ensure that the home you are buying has all of those spaces available. Depending on your line of work, you may also want to consider mixed-use properties. These will allow you to combine your home with your business. Depending on your style of work and where you would like to live, this could be a great time-saving option. - there are some financial caveats to mixed-use, so get in touch with Evan Smeenge (me) if you have questions on that!

  1. Features and amenities

Whether you are looking for homes for sale in Chicago for the first time, or you are looking to upgrade to a more luxurious home or amenity filled home, you will need to decide on what features you want in your house. For more unique features and amenities, you may need to consider renovating a property or looking at more high-end houses. Luxury homes in Chicago or Luxury Homes in Chicago Suburbs are not just for those who are looking for bigger spaces; they are also for those looking for better-designed and more beautiful real estate options, or mainly perhaps newer options. Having a beautiful property can help alter your mood and provide the perfect setting for family and friend get-togethers. 

Summary:

The Smeenge Group is top real estate sales team serving Chicago and Chicago Suburbs. Our agents can assist you with determining the type of home you should consider and the areas you may be interested in. We can arrange your viewings with some of the best Chicago suburbs real estate properties ( woah - love SEO ;) ). With our help, finding the perfect house in Chicago for you and your family becomes easy. From single-family homes to prime Chicago real estate, we can show you some of the best deals on the market. 

The Smeenge Group is a Chicagoland real estate team; we service all of Chicagoland but mainly focus on these Chicago neighborhoods: Lincoln Park, Lakeview, Andersonville, Old Town, Gold Coast, River North. And focus on these Chicago Suburbs: Evanston, IL, Wilmette, IL, Winnetka, IL, Kenilworth, IL, Glencoe, IL, Glenview, IL, Highland Park, IL. But no matter where you are, we are happy to serve you!

And if you want to see what I and other experts think about buying right now, read THIS


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With an exceptional real estate experience, The Smeenge Group aims to make transactions fun, inviting, and seamless for everyone involved. We had cultivated a deep understanding of the buying, selling, and local marketing processes that guarantee a positive experience for every one of our clients.