Take Me To Post Comment Form Whether you are downsizing, upsizing, or cross-sizing there are several factors to keep in mind. According to the National Association of Home Builders (NAHB) the average size of a new home has more than doubled over the last 50 years. While homes are getting bigger, lot sizes are shrinking. The national average lot size decreased 6.5% to 16, 454 square feet between 1987 and 2002. Interestingly enough, household sizes are decreasing. Today's average househould has 2.57 people. This fugure is down from 3.14 in 1970. If your home does not meet the needs of your family, now may be a great time to sell and find a home that is more suitable for you.

If the size of your household has increased because of more children, older children, or aging parents that need assistance- "upsizing" your home may be the answer to more comfortable living. Usually, moving to a bigger home means paying more money. There are a few things to keep in mind. If you have a substantial amount of equity in your current home, you can roll that equity into a new home as a down payment. If you cannot afford a larger home in your current area, you may want to consider relocating to an area that is further out and perhaps more affordable.

Downsizing is popular among "retirees". Since you no longer have to worry about lliving where you work, you have the freedom to purchase a lower-priced home that will typically have a lower tax bill and will be easier to maintain. Many builders have been responding to this type of buyer by building smaller homes with more high-end amenities that would traditionally be found in larger homes.

Cross-sizing is another option for you if you do not fit in either of the above categories. You may just want to replace your home for another. Whether you have a job that requires better commuting arrangements, or something as simple as wanting a different style home, cross-sizing may better meet your lifestyle preference. If you are considering one of these options, there are several factors to consider. Current property values, finances, and market conditions will determine which route to take. Call your local Realtor and/or lender to help you determine what best suits your needs.

Statesboro Board of Realtors