If your family is growing and you’re running out of space at home, it may be time to upsize to a larger home with a bigger yard.
Licensed buyer’s agent and expert in Sydney real estate, Nick Viner of Buyers Domain explains why he decided to upgrade without leaving the Inner West.
There may come a time when your house no longer fits in with the needs of your growing family and future goals, and it’s time to move. Many factors can change, including family size, the neighbourhood and work commitments. In turn, your housing needs change as well.
Considering the decision to upsize
Whether you are looking to accommodate a larger family or want a change of scenery, upsizing may be the best option to manage your dynamic lifestyle. The clear advantage of upsizing is that you will have a bigger space not only for your family and for entertaining friends, but also to pursue other interests and hobbies. Upsizing can be necessary to take the next step to achieve your life goals.
Upsizing is a big commitment that requires careful planning. There are many factors that will influence your decision on when to move and where to go to and it is important that your move makes financial sense with the least disturbance to your family life.
Upsizing in the Inner West
If you are looking for a bigger backyard, you may be drawn towards other parts of Sydney which generally offer more space. I have a lot of clients upgrading from the Inner West to the Eastern Suburbs, North Shore, Northern Beaches, Hills District and St George. Increasingly, however, the Inner West is becoming a destination for upgraders in its own right.
The Inner West is a vibrant neighbourhood with a welcoming community that attracts families looking for a convenient lifestyle a stone’s throw to the CBD, transport and amenities. It also has some of the best schools in NSW whilst the harbour and even some beaches are still within reach. If you’re concerned you’ll never have the right-sized backyard, consider the rest of Sydney to be your backyard!
These are the reasons why Tanya and I made the decision to upsize without leaving the Inner West, about four years ago.
The right opportunities
As the Inner West has been gentrified over the past 20 years, the number of larger family homes suitable for growing families has also increased. There may be a range of appropriate housing options for those looking to upsize from larger terraces to freestanding Federation and Californian bungalows and to the waterfronts of Balmain and Birchgrove.
Although weakening property prices have encouraged people to hold off from selling property until prices pick up, now is actually a great time to upsize. Any loss from selling your current property is offset by the larger discount from the purchase of the bigger property. Think of it as an investment; you are buying something at a discount, and you will stand to gain financially once its full value returns.
Instead of viewing the downturn to the property market as a hindrance, consider that you may well be in an even better position to purchase your ‘forever family home’. Not only can you improve your living space, you can also set your family up for a comfortable and happy future.
To discuss your housing needs at any time, call Nick Viner on 0405 134 645.
Inner West Mums Exclusive Offer: Save 20% off the cost of engaging Nick Viner, Buyers Domain, if you sign up by the end of 2018.
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