William's Blog...with a smile!

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Are you buying more house than you need?

In today's world, bigger seems to mean better.

But Bigger also means more costly.

Are you looking at houses that are 3000+ feet when only 2000+  are needed?

Are you looking in the $300,000 range when $250,000 will fit your needs?

Are you spending every penny that the bank says you can even when you don't really have to?

 

Keeping up with the Joneses has been the downfall of many.

Buying a home larger than you really need comes with a lot of additional costs.

 

Taxes, Heating and Cooling, Our door care and much more.

 

Think about the money you could be saving...Maybe it is time to reassess our thinking before it is to late~!

 

While this home seems to be a great fix, it cost $80,000 more because of the large acreage.

Taxes, ins. and other items raises the true everyday cost of this home.

Comment balloon 16 commentsWilliam Feela • June 04 2017 12:49PM

Comments

Good morning, William Feela I think most people buy more than they need.... we still have that "bigger is better" mentality.....

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 4 months ago

Happy Sunday William Feela, I see some people over buy and 5 years later they are ready to downsize.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 4 months ago

I've often wondered why people buy or build such large homes when smaller will do.  It is more time-consuming to clean, costly to maintain and, of course, taxes and insurance will cost more.

Posted by Carol Williams, "Customized Mentoring & Marketing Services" (U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business.) 4 months ago

Wants versus needs.  As old as we are.  Making a realistic assessment is difficult for many who confuse the two.

Posted by Mick Michaud, Your Texas Lifestyle is Here! (Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107) 4 months ago

There is a reason many downsize at some point in their lives.  I am one of them. I often remark that I enjoy living in a home that has the master bedroom only 9 cartwheels away from the kitchen.  It's easier to care for and maintain.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 4 months ago

In our area, and probably true for others, too, people are still in love with bright, shiny, and new. I see people buying in areas that it's fairly certain they won't be able to get out unless they sell for a loss. Just for new--stainless appliances, granite counters, etc. Seems egoic and sad. An acquaitence of mine jut sold his house in our large, established community, where values hold oe similar homes within 50 miles. He's retired so you'd think he'd be looking to the future and buy a single story, smaller home. Did he do that? Nope. Bought a huge honkin' home in a subsidiary development where they're so packed in yu don't even have enough room to change your mind. Why? 'Cause he and his wife were considering buying a smaller ranch home, but really fell in love with this brand new monstrosity. He tok the equity in his old home and only has a smallish mortgage. But, because of the price he had to pay, any equty increase won't happenin' in his lifetime.

Posted by Fulton Gaylord, 1st-Time Home Buyer Realtor - Charlottesville, VA (Keller Williams Realty) 4 months ago

We have a 2400 square foot 2 story house.  I'd prefer 1600-2000 sq.ft. on single level (that is what our last 2 houses was and they were plenty).  We bought this house for the location and land, the house was a minor detail that came along with it, so we didn't much have a choice.  But yes, generally I do think people buy more space than they really need. -Kasey

Posted by Kasey & John Boles, Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties (Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com) 4 months ago

Personally, we need to downsize. However, in our market bigger is better for most.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 4 months ago

William

When people are trying to keep up with the Jones . . . . They end up playing trying to keep up with the bank.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) 4 months ago

You cna see this all over the place.  Just look at how large most new h ouses re...Do WE reallyneed a house that big?

Posted by Vern Eaton, Realtor 651-674-7449 4 months ago

Greed gets in the way for all of us, and most of us have far more than we need.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams fox cities) 4 months ago

Excellent post, William.  I see many folks who are unknowingly setting themselves up for future issues by buying a home bigger than they need.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 3 months ago

I hope home buyers will read this post and learn from it.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 3 months ago

We are a family of five. I wanted a large house with room for kids to play in the cold winters as well as some land to play outside on nice days. We've got it all...and I can't wait for the kids to graduate so we can move into a small cottage! Ten years and counting...

Posted by Nathan Gesner, Broker / Property Manager (American West Realty & Management) 3 months ago

I do think most people tend to buy too much. 

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, 914-419-0270, kat@thehousekat.com) 3 months ago

Good morning William. I so much agree with you. I downsized about 5 years ago and probably still have more house than I need.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 3 months ago

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