Your starter home carried you through important life milestones, but now it’s starting to feel more like it’s holding you back. Sure, maybe you can make some adjustments or renovations and have it feeling as good as new again, but the time usually does eventually come when you might have to start looking at your next steps. Here are five key signs that you’re ready for something bigger.
1. You’ve run low on space
This is the most obvious sign. If you’re suddenly sharing a bathroom with a preteen, if two of your kids have reached the age where sharing a room results in arguments and bedtime distractions, or if you’re tripping over dog toys every morning on the way to the kitchen, you might want to look into a bigger place.
People typically see a need for more space as just being about their family growing or a relative moving in, but sometimes it also applies to ways they might be holding themselves back from hobbies or interests due to lack of storage. If you want to spend more of your summers camping, you’ll need somewhere to park the trailer. If you want to take up painting, you might need a garage with space for a studio.
2. Your home no longer fits your lifestyle
Maybe you bought a home with a dedicated office during the pandemic, but now are back at work in person and would rather have an extra full bedroom. Maybe you moved jobs, and now you’re spending most of your precious free weekday time in traffic. Maybe you have come to prefer backyard BBQs to nights at the bar, but your small yard barely has the room for a patio.
Life changes, and your home should shift with you. If your home was tailor-made for your family 5 or 10 years ago, that may mean it’s not working for you anymore.
3. You’re thinking about big renovations
There’s a difference between small updates and a full-on overhaul.
If you’re pricing out major renovations like gutting the kitchen or adding a bathroom, saving endless inspiration on Pinterest, and mentally redesigning your home daily, it’s worth asking: Is this still the right home to invest in?
Renovation costs can climb quickly. Sometimes, putting that budget toward a new home that already checks your boxes is the smarter move.
4. Your equity has grown
A lot of homeowners are sitting on more equity than they realize. With steady demand in many Winnipeg neighbourhoods, your home’s value may have increased significantly since you bought it. That equity can help fund your next purchase and open doors to different neighbourhoods or property types.
If you haven’t looked at your home’s current value recently, this alone is worth exploring.
5. You’re browsing listings ‘Just to look’
It usually starts casually. You’re on Realtor.ca at night, saving listings, sending homes to your partner, imagining yourself in different spaces. Maybe you’re noticing ‘Sold’ signs in your neighbourhood, and trying to get the details on what a given house went for (call us for the inside scoop, by the way!). Or, you’re driving past new developments a bit slower than usual, checking out the schools and the parks.
Most people don’t go from zero to moving overnight, it starts with exploring what’s possible. And if you’re already doing that, you’re well on your way to your next home.
If a couple of these signs hit close to home, it might be time to start thinking about your next step.
Upgrading doesn’t mean you have to rush into anything. It just means getting a clear idea of what your options look like. In Winnipeg, that can vary a lot depending on your neighbourhood, your home, and what you’re hoping to move into.
Let’s talk!
If you’ve been thinking about making a move this year, give Bryan a call at 204.817.1849.
We can walk you through what your home might be worth, what upgrading could look like for you, and what’s actually realistic in today’s market.
No pressure, just a conversation to help you figure out your next move.
