Are you buying the right sized home?

Is bigger always better? When it comes to purchasing a home, the answer is, in most cases, no. Unless you're a family of 10, searching for a home with the greatest square-footage you can afford shouldn't be your top priority. Instead, it's more important to carefully consider usable living space, which is a very individual thing and different for every family. 

Buying the right sized home goes both ways. It also isn't in your best interest to buy a two-bedroom home when you know that you'll be starting a family soon.

Tips for choosing the right size home: 

For first-time buyers or young couples starting out, buy a home with the next five to seven years in mind. Even if you don't plan on having kids for a couple years, moving is expensive and it isn't a process you want to repeat two years down the road. 

Empty nesters should be thinking of enjoying their golden years when house hunting. Buying a smaller home with fewer bedrooms and less outdoor space will make it much easier to enjoy those extended vacations. 

One thing you definitely don't want to do is search for a house that will accommodate your entire extended family during holiday dinners. It just doesn't make sense to buy based on the needs of two or three days of the year. Find a home that is just right for your family, the people who will occupy it the other 363 days per year. You can always buy a few fold-up tables and chairs for that special Christmas dinner! ?

Buying a more modest-sized home has another advantage, and this one means big savings for your wallet - energy conservation. Heating and cooling a 5,000 square-foot isn't cheap. Furnishing and decorating a massive home is expensive, too.

Finally, you can count on spending much less time cleaning a smaller home, which means more time to spend with family and doing the things you actually enjoy!