How Many Stories?

Choosing the Right Number of Stories and Bedrooms for Your Starter Home

  1. Family Size: If you’re a couple, a one-bedroom or two-bedroom home may suffice. However, if you plan to start a family soon or have children already, a two or three-bedroom house might be a better fit.
  2. Guest Accommodations: Do you often host friends or family? Having an extra bedroom can provide a comfortable space for guests, making your home more inviting and functional.
  3. Work from Home: The rise of remote work has changed the way many people think about their living spaces. If you work from home or foresee needing a dedicated office space, consider a bedroom that can double as an office.
  4. Storage Needs: Bedrooms can also serve as storage solutions. If you have a lot of belongings, an extra bedroom can be a great place to keep things organized and out of sight. Considering Future Growth

A starter home is often viewed as a temporary dwelling, but it should also accommodate your potential growth. Here are some considerations:

  1. Family Planning: If you plan to expand your family, think ahead. Purchasing a home with one or two extra bedrooms can save you the hassle of moving again in a few years.
  2. Changing Lifestyles: Life circumstances can change. For example, children grow and may need their own rooms, or you might welcome an elderly parent into your home. A larger space can provide flexibility.
  3. Market Trends: The real estate market can be unpredictable. Choosing a home with more bedrooms might increase its resale value and appeal to a broader range of future buyers.

Evaluating the Local Market

Understanding your local real estate market is vital when deciding on the number of bedrooms. Research the following:

  1. Average Home Sizes: In some areas, two-bedroom homes may be the norm, while in others, three or four bedrooms might be more common. Familiarize yourself with the typical layouts in your desired neighborhoods.
  2. Resale Value: Homes with three bedrooms generally have better resale prospects than two-bedroom homes. If you’re considering a home as an investment, think about the long-term implications of your choice.
  3. Rental Opportunities: If you plan to rent out a room or two in the future, consider how many bedrooms would be appealing to potential tenants. Multi-bedroom homes often attract families or groups looking for shared living spaces.

Balancing Budget and Size

While it’s tempting to choose a larger home, it’s essential to balance your desires with your budget. Consider the following:

  1. Affordability: More bedrooms often mean higher purchase prices and increased maintenance costs. Ensure that your choice aligns with your budget and won’t stretch your finances too thin.
  2. Mortgage Options: Lenders typically look at debt-to-income ratios, which means a more expensive home could limit your borrowing potential for future purchases. Calculate your mortgage payments for various scenarios to understand the financial impact.
  3. Maintenance Costs: Larger homes typically incur higher maintenance and utility costs. If you choose a home with extra bedrooms, be prepared for increased expenses over time.

Conclusion

Deciding on the right number of stories & bedrooms for your starter home involves careful consideration of your current lifestyle, future plans, local market conditions, and financial implications. While a two story-two-bedroom home often serves as a solid starting point for many, a three-bedroom option may provide the flexibility and space you need for growth and comfort. Ultimately, your choice should align with your personal and financial goals, setting the stage for a happy homeownership experience. Whether you opt for a cozy two-bedroom or a spacious three-bedroom, make sure it feels like the right fit for you.