Are Bigger Homes Better?

I recently read a article about America's most expensive homes that are for sale. I marveled and was amazed at the pictures of huge rooms, high ceilings, beautiful landscaping, and huge numbers of rooms. But then I started to think about it and realized that I would not want to own one of those huge houses. The cost of owning such a home would be astronomical! I am sure it is easy to see this on such a grand scale but what about on a smaller scale?

As a Realtor in Rancho San Diego I work with people buying homes everyday and we are always striving to find homes for sale that best meets their needs, wants, desires and budget. As you know, the price of homes has declined drastically over the last few years. Homes are more affordable than ever. As result you can now afford a larger home and larger lot than previously. Combine the price reduction along with historically low interest rates and you now have more buying power than ever. Whereas before you may have been only able to purchase a 2000square foot home, you may now be able to buy a 3000+ square foot home. Or maybe rather than a 10,000 square foot lot you can afford an acre.

The question becomes, how big is too big? Of course, much will depend on the size of your family and your own individual needs and tastes. But I do not want you to fall into the trap of believing that bigger is always better. The costs of owning a home is going to go up with the size, whether it is the size of the house or the size of the lot. Do not stretch your budget to the limit to gain additional square feet or acreage unless you factor in the additional costs.

The larger home is going to cost you more to heat and cool. There will be more windows to replace, more rooms to furnish and decorate, more faucets that leak, outlets that go out, a larger roof to replace, more walls to paint, higher flooring costs and so on and so on. The larger lot is going to cost more to landscape and irrigate. Those water bills can go up very quickly. Will you need to hire a landscaper? Will you hire someone to clean? These are all things to consider.

So is a larger home better than a smaller home? Is a large lot better than a smaller lot? I do not think there is a right or wrong answer. It depends on the individual and the circumstances. What are your thoughts?