With our renovation work coming to an end, I can’t help but think back to when we were first looking at properties to buy. The excitement, but also the worries. Although taking on a bigger place is scary, there are plenty of reasons why you should; here are a few of mine…
1. Save on rent money
One of the main reasons I wanted Nick and I to buy our own place was that I hated the thought of all the money we had spent on rent with nothing to show for it. There’s some-thing comforting about knowing that every piece of furniture we add and every payment we make on our mortgage is going towards our family home, rather than just a roof over our heads. Think of it more like an investment in your family!
2. Save on stress
I’m so glad we moved when we did. If getting out of the renting game was one of the main reasons for moving, the ability to provide a stable and happy home for Noah to grow up in was definitely the other. Was it easy moving into a home that needed renovation with our little boy? Of course not, but was it worth it? Completely. By choosing to move to a bigger home in anticipation of a growing family, you take all that inevitable stress away. You know that in a few years’ time, you won’t be the one desperate to move, but with money tighter, your family larger and your commitments far greater. If you have the opportunity to do it now, go for it!
3. Save on value
We bought a home that needed work because we could see its potential. It also meant that we could add value ourselves though, instead of buying somewhere that had already had its value increased by the previous owner.
It was a big decision, but we knew that adding the value ourselves would mean a little pot of extra money if we came to sell it on in future. Plus, all the interior furnishings are ours any-way, so we haven’t lost anything there. It’s definitely worth looking into this side of the buying process though, as not all projects are good ones! You can read more on this here.
4. Save through earning
We moved because we wanted to create a home for Noah and for our future, but don’t think that moving to a bigger place has to be used for a family right away. You can easily buy a property with the potential to be a great family home, but rent out one or two of the rooms in the mean time.
This can be a great source of income, but it’s always best to consult a professional first, and there are plenty of Leeds estate agents that can give you the sound financial advice in this area of expertise.
I hope I’ve given you guys something to think about. Are you thinking of moving to a bigger home? Let me know your thoughts!