The aim for most, after getting on the property ladder, is to upsize our homes with each move. This could be for a growing family or a growing teddy bear collection, like the Smith’s, who after retirement chose to move from three to four bedrooms to accommodate their 600 cuddly toys.
But, did they really need to move to a bigger house to house their cuddly friends or could there have been a more convenient and cost-effective solution?
Upsizing is extremely expensive and this won’t stop after the extra 0’s have been added to the price of the house. After you have initially purchased your property, various other costs will start to slowly increase, all adding up and eventually showing you the true cost of upsizing.
First of all you need to decorate all your extra rooms. Then as home improvement projects arise, more walls will need painting, more carpet will need laying and far more furnishings will need replacing.
Increased household expenses
Rent or mortgage, heating, electricity, water, council tax – these seemingly never ending bills will be far higher than they were in you smaller home. When you see the bills you may wish you had downsized instead! Especially if you are paying these extra costs for space you don’t really need.
Costs of filling the space
Extra space means extra furniture, unless you want your home to look empty! That fourth bedroom you now have will need a bed, wardrobe, desk – and the rest. It will also be tempting to make extravagant purchases. You don’t really need a treadmill, but there is still a large empty space in the spare room that needs filling.
More money spent on cleaning
You may find that with more rooms to clean, you simply don’t have the time and hiring a cleaner is your only option, if you don’t want to live in constant filth. But, this won’t come cheaply. Even if you don’t hire a cleaner, the extra space won’t only cost you more in cleaning products, but it will also cost you a huge amount of your time.
So, is it worth it? Well, this does depend on your individual financial situation. If you are currently living in a 3-bedroom house with four children, then it is probably a good move. However, if the upsize is simply because you want a bigger house or more space for your ever growing wardrobe, then it may be worth looking at alternatives.
First of all have a clear out and get rid of any unwanted items, then sort out anything that you don’t want to get rid of but don’t need cluttering up you house right now. These items can then be put into self-storage, until you need it and with locations across the UK, it is definitely worth considering before committing to a house move!
You might realise, once you have cleared out your home, that there is plenty of space. Which means you don’t have to drain your bank account to find more room – something the Smith’s might wish they had tried when they see how much they are paying to heat a room for their teddy bears.