Is Buying a Bigger Philadelphia Suburb Home Worth It?

There are many great reasons to move to a Philadelphia suburb, one of them is the opportunity to find a larger property.

There are several advantages to having a larger home, but is it the best investment for you personally? A larger home has so many benefits, but it might not always be the best investment. How can a homebuyer be sure they are ready for a larger home?

Some Things to Consider About Purchasing a Larger Home

A Large Mortgage

This may seem like the most obvious thing to consider when deciding to purchase a larger home. One thing a significant amount of homebuyers don’t consider is if their new mortgage will help them to continue to live within their means. Just because a homebuyer can make a mortgage payment doesn’t mean it’s truly affordable. When purchasing a bigger property you want to avoid the temptation to become house-poor.

This means spending so much money on your mortgage payment you have little to scrape up to pay other bills and nothing left to pay for anything else like eating out, gas, or maybe expenses that pop up from school for kids.

If you can make the payment for a larger home but it would stretch you thin, it might not be the best upgrade just yet.

Increased Upkeep

More home means more to take care of. This includes an increase in cleaning and daily tasks as well as an increase in yearly preventative projects. Considering your lifestyle right now will help you to determine if you are ready to make the move and take on more with a home. If you are pretty busy do you have the ability to hire someone to help with these tasks even if it is just a couple of days a month?

That acre lot you might be hoping for will be great to have plenty of space to enjoy outside any time you want. It gives you just enough distance from your neighbors to have enough peace and quiet. Maybe you have dogs or you might have kids that would really enjoy a large yard. Do you have time for the extra mowing?

Longer Drive

Commuting from the Philadelphia suburbs can actually be pretty easy. Especially if you are using public transportation. You can hop on and let someone else do the driving while you get something done. But there is more than just the commute to work you may need to consider. What about getting kids to sports club practices and other activities? Would this require more time and are you able to give it the extra time?

New Neighborhood

Are you ready to acclimate to a slower pace of life? It might take some time. You may be pretty excited to trade the hustle and bustle of being in the city limits for a more relaxed and charming atmosphere, but it could take some time to find that spot that you fit into. It could be almost like relocating to a small town across the country. There will be new people and a new way of doing things. Things you don’t even consider, like the way you grocery shop could shift from your normal comfort zone.

There are many benefits to living in a large home. But to make sure it is the right move for you you want to assess why you want or need to move from your current home. You also want to assess the reality of the details of the lifestyle change. You don’t want to become house-poor or feel like you are always taking care of your home with little time to enjoy things. If you are ready for the slight shift in lifestyle then you will truly love your choice.

If you are ready to find a bigger home in the suburbs or even a bigger home in Philadelphia, we are ready to help. When searching for a home that fits you like a glove you want an experienced Philadelphia real estate agent on your side.