How Much Home Do You Need to Live Comfortably?

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You need to decide what size home will allow you to live comfortably before you start shopping for homes and applying for home loans. To help you decide how much home you truly need, consider the following questions:

  1. What are your finances? Owning a home has added costs, like maintenance, repairs, taxes, and so on. If you are tight on money and want your own home, a smaller house will fit better in your budget.
  2. What are your priorities? If you like to travel and are active where you are not home much, then you may not need much space. If you like throwing parties or like having friends and family visit, then you might want the extra space large homes provide.
  3. How big of a family do you have or want? The size of your family can determine what size home you need now and in the future.
  4. How long do you plan on keeping the home? If you only intend to keep the home for about five years, then a smaller home may the perfect fit, now, and you can upgrade to a larger home later.

Keep in mind, everyone’s size requirements will vary based on their own personal preferences and needs. Whether you are looking to buy a small or large home, Elite Financial offers different mortgage programs to help you purchase your new house. Contact us at (800) 908-LEND or (805) 494-9930 to learn more about your different financing options today!