{"id":12070,"date":"2019-08-30T10:17:00","date_gmt":"2019-08-30T17:17:00","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=12070"},"modified":"2020-06-02T14:32:58","modified_gmt":"2020-06-02T21:32:58","slug":"signs-youve-outgrown-starter-home","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/signs-youve-outgrown-starter-home\/","title":{"rendered":"Time To Upgrade? 6 Telltale Signs You\u2019ve Outgrown Your Starter Home"},"content":{"rendered":"

Your starter home will always have a piece of your heart. It was likely your first big purchase, and you feathered that nest to make it your own while it helped you build equity.<\/p>\n

But, as you\u2019re probably aware, starter homes come with compromises. Perhaps you had to choose ample closet space over a big backyard. Or, maybe you bought your first home in a neighborhood that was a few miles from the one that you really were eyeing\u2014you know, the subdivision with the stellar pool or golf course that feeds into a great school district.<\/p>\n

If you\u2019ve been thinking about upgrading from your starter home<\/a> to your dream home, now is as good a time as any to explore your options.<\/p>\n

But how do you know if you\u2019re ready to take the leap? Here are 6 hints that it might be time to sell your starter home and move into a luxury home:<\/p>\n

\"\"<\/a>
Source: (Alexander Mils\/ Unsplash)<\/figcaption><\/figure>\n

1. You can afford it<\/h3>\n

When you moved into your starter home, it was comfortable for your budget. But, since then, you\u2019ve advanced in your career (congrats!), or maybe you\u2019ve gone from being a single-income household to a dual-income one.<\/p>\n

If your improved income can help you afford a nicer home<\/a>, it might be a good time to upgrade. Just make sure to take into account the cost of increased property taxes and homeowner association dues that could come with a more expensive home.<\/p>\n

2. You\u2019re ready to start building more wealth<\/h3>\n

Earning equity on a more valuable home can help you build more wealth than the equity you\u2019re building with your starter home.<\/p>\n

And depending on your debt-to-income ratio and rental rates in your area, it might make financial sense to keep your starter home as a rental property after you upgrade to your dream home.<\/p>\n

Renting out your starter home can provide an additional income stream. It can be a great financial move if you\u2019ve already paid off your mortgage, or the market would allow you to rent it out for more than your mortgage plus annual maintenance costs.<\/p>\n

\"\"<\/a>
Source: (Picsea\/ Unsplash)<\/figcaption><\/figure>\n

3. Your family is growing, but your home isn\u2019t<\/h3>\n

Your starter home may have made sense when you were single or newly married. Then, you converted that spare bedroom into a nursery. Now, closets are starting to feel stuffed and you\u2019re short on space. Maybe you\u2019re even spilling over into a storage unit.<\/p>\n

A growing family, whether you\u2019re planning or expecting, is a great reason to upgrade into a more spacious house. We\u2019re not just talking kids either! If you\u2019re planning to get a pet, you might think about upgrading to a home with a bigger backyard so you can throw the Frisbee around with Fido.<\/p>\n

4. You want to be in a great school district<\/h3>\n

When you moved into your starter home, you might have loved that it was within walking distance of a few of your favorite bars or concert venues.<\/p>\n

But as a parent, your priorities have probably changed, and so too have your criteria for a great neighborhood. Moving into a top-notch school district\u2014which has high graduation rates, good teacher-to-student ratios, and offers enriching extracurriculars\u2014can be a great reason to move into an upgraded home.<\/p>\n

5. You\u2019re spending a lot of time on Pinterest<\/h3>\n

It\u2019s no secret that homebuyers have wish lists. Your starter house probably checked most of the must-haves on yours. But what about those fantasy items you were coveting?<\/p>\n

If you\u2019re spending your days scrolling social media ogling beautiful homes, you\u2019re probably ready for an upgrade. You can have that open kitchen that looks like it was torn from the pages of a design magazine. And that master bathroom that rivals a spa? It\u2019s all yours.<\/p>\n

It\u2019s time to check off that wish list! Plus, upgrading sure beats dealing with the hassle of big-time renovations (think: permits and construction noise).<\/p>\n

\"A<\/a>
Source: (Jesus Hilario H.\/ Unsplash)<\/figcaption><\/figure>\n

6. You\u2019re working from home more<\/h3>\n

Workspaces have become more flexible, allowing employees to telecommute<\/a> a few days a week or work from home entirely. Having a dedicated home office can help with your efficiency and work-life balance.<\/p>\n

Don\u2019t make your kitchen table work overtime. You\u2019ve earned that home office.<\/p>\n

Header Image Source: (Artazum\/ Shutterstock)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Your starter home will always have a piece of your heart, but you don\u2019t have to stay forever. Here\u2019s how you know when it\u2019s time to upgrade.<\/p>\n","protected":false},"author":126,"featured_media":12077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[620,624],"tags":[],"class_list":["post-12070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-house","category-saving-up"],"acf":[],"yoast_head":"\nTop 6 Telltale Signs You\u2019ve Outgrown Your Starter Home<\/title>\n<meta name=\"description\" content=\"Your starter home will always have a piece of your heart, but you don\u2019t have to stay forever. 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