Dec 05 2023

6 signs you might need a new house

new house
new house

Are you starting to get the feeling that your home doesn’t fit? It could be time to buy a new house.

Maybe you’re short on space in your current home, or maybe you’re dreaming of a bigger backyard or even a pool. Spending hours browsing listings is but one sign you may be ready for a new house.

Do you need a new house? 6 signs to look for

new house

Scroll on for several signs that it’s time to move forward:

1. Your home feels too small or too big.

It’s the Goldilocks effect: Is your house too big, too small, or just right? If your home is too small, you may feel like you don’t have enough room for family members and other needs, like a home gym or office. You might also want a spare room so you can host friends and family when they visit. If your home is too big, you may feel like you have too many empty rooms to maintain.

When your home no longer fits, it might be time to sell and trade up or downsize.

According to the 2023 Home Buyers and Sellers Generational Trends report from the National Association of REALTORS® (NAR), your decision may be influenced by age and life stage.* “Buyers 57 years and younger were more likely to purchase a bigger home, while buyers 57 and older were more likely to downsize,” the report notes.

2. You’re short on storage space.

Similar to having too few rooms, you might notice that your cabinets and closets are packed. Your garage too. If you’d like a garage you can actually park in, you have a few options: declutter, rent a monthly storage unit, build a backyard shed, or move to a new house.

Storage needs may also shift as circumstances in your life change. For example, if you’re working remotely, you may need additional closet and storage space to house documents, office supplies, and electronics.

3. Your family size has changed.

Are you growing your family with pets or children? Or are you, like many homebuyers, considering living in a multigenerational household? Changes in family size may put you in the market for a new house.

Roughly 14 percent of recent homebuyers purchased a multigenerational home. Motivators included conserving costs, accommodating adult children who moved back in, and caring for and spending more time with aging parents.* Older Boomers and Gen Xers are the groups most likely to buy a multi-gen house.

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4. You’ve seen your equity and/or income increase.

In the past few years, most homeowners have seen their equity climb. For many, these equity gains are substantial enough to contemplate a move to a new house or location. NAR’s report shows that 38 percent of all homebuyers used the proceeds from the sale of their home for their next home’s down payment.*

Likewise, if you’ve recently been promoted or moved forward in your career, you may now be able to afford a home that better meets your needs. With a new job, you may have also seen your commute change. Moving to a new home closer to your office could help shorten your commute and give you back precious time.

5. Your health status has changed.

If you or a family member have less mobility than you used to, your home may be harder to navigate. An estimated 5 percent of households experience such issues, often related to age or disability. “The most common accessibility issues reported included difficulties entering a home, using the bathroom, and using the kitchen,” the Joint Center for Housing Studies of Harvard University (JCHS) 2022 report states.

Here, you have two options. You could use your equity to make medically necessary home improvements (and deduct them on your annual taxes). Or you can sell and search for a new house that’s more accessible. Some homes may be designed or upgraded to accommodate people of all abilities, while others may be adapted to help homeowners age in place.

6. Your home is too much work.

As your home ages, it’s likely to need more maintenance. For some homes, there comes a tipping point where the cost and effort are no longer worth it. Has your home reached this point?

In a 2023 survey of prospective home sellers from, one in four said they’d like to sell and move to a smaller house that requires less work.

When you feel like you’re constantly shelling out money for repairs, it may be time to consider a new house or even a new build. If minimizing maintenance is important to you, you might appreciate outsourcing it. While condos typically come with a monthly HOA fee, this usually covers most exterior maintenance.

When you have questions, we’re here to help.

No guessing, no waiting, and no mortgage jargon. Get clear answers and customized guidance from your local Academy Loan Officer.

Please consult a trusted professional as personal circumstances may vary. No specific results are guaranteed. Not all applicants will qualify. MAC524-1486831.