When to consider buying a bigger family home?

As a family, we have rented a home for the last few years but as Hamish grows, we have been giving serious thought to buying a new home that accommodates us better.

Hamish is getting older and we would like to do renovations to make his bedroom one that he can grow into and with. He wants friends to sleep over and our small living space is being severely cramped. He really needs more space to grow.
I work from home and desperately need a home office and would love a separate craft room for my Cricut machines and other craft supplies.
Brent likes to entertain and is longing for an entertainment area and our car could do with garage which our current little flat does not offer.
We are also comfortable in our small urban apartment that doesn’t require us to clean too much. Where we have no need for extra security measures and where there are no hidden or unexpected monthly costs.
But, how do you determine when you’ve outgrown your current home and are ready to upgrade to a bigger family home?
Some factors to consider if you want to upgrade to a larger family home are:-

Growing family size

The first factor to determine an upgrade to a bigger home would be a bigger family size. In our case, my older children have moved out and we have no intention of growing our family unless it is by pets.
Larger families need more space. You may want separate bedrooms for the children, a playroom or a better entertainment area to rather have friends over when your children are younger than to go out.


If you are like me and work from home, you may need a dedicated home office or need extra space to pursue a hobby or interest. The pandemic has seen a rise in parents working from home and many new entrepreneurs and small businesses have sprung up through the need to work from home.


You may have an idea of your dream family home and wish to renovate. Especially if you move from a rental where renovations are not allowed to owning your own home.


Pets also require more space. In Cape Town, it’s a struggle to find a well-priced rental that accommodates either children or pets. Knowing this upgrading to a bigger home that you purchase would be the next logical step.


You may be thinking of investing your finances into a bigger home which could easily be resold when you downgrade at retirement age, thus allowing you the opportunity to look after yourself in your old age.

Is it worth buying bigger?

This is a question we regularly ask ourselves as there are several factors that have up until recently stopped us from purchasing.
The ever-climbing interest rate, the hidden costs, how much insurance we would need and bond repayments would be higher than our current rental. Naturally, Covid also made us reconsider buying in an unstable economic market.
With Covid restrictions lowered and the markets slowly recovering, this is not a concern for us. Property is still one of the best investments and would offer us long-term stability.
Our investment would also yield a profit should it be sold later, allowing us to be more financially stable.
The calculated financial costs, as we know very little about finance and property, were my biggest concerns. I came across these great online calculators to assist you to determine how to calculate your mortgage payment and estimate the monthly repayments. 
This helped us to have a realistic look at our finances, work out what price we could afford to purchase at, and start looking at homes we like that are on the market.
Hidden costs do worry me and I understand that household insurance should cover the majority of faults like burst geysers and leaking roofs.
We’ve also had to look at the financial costs that moving to a larger home would entail.
Costs like:
Using more electricity and water
Needing to hire a
Garden services
Pool maintenance
Maintenance of any of the buildings structures
Installing and hiring security services
However, with a realistic calculation of the amount of home we can buy, the interest rates predicted and a full assessment of where we are in our family needs we can now start looking for a bigger home for our family.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.