HOW DO I KNOW IF IT’S TIME TO UPSIZE?

Buying a bigger home is an exciting step, but it’s also a big commitment. Whether you’re looking for more bedrooms, bigger living spaces, or a better location for your family, upsizing can improve your quality of life, but it’s not without costs and trade-offs. This guide walks you through the key signs it might be time to upsize, what to consider before you take the plunge, and how to approach the move strategically so it works for your budget, lifestyle, and long-term goals.

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Signs It Might Be Time to Upsize

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1. You’ve Outgrown Your Current Space. If you’re tripping over toys, squeezing into a single bathroom, or working from the dining table, you may have simply outgrown your current home.

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2. Your Family Is Growing. A bigger home may be essential if you’re planning for more children, accommodating extended family, or making space for a live-in caregiver.

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3. Lifestyle Needs Have Changed. Extra bedrooms for guests, a home office, or a larger outdoor space for entertaining can all be drivers for upsizing.

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4. You’re in a Strong Financial Position. If your income has increased, your mortgage is manageable, and you have equity in your current home, you may be able to comfortably afford to upgrade.

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Key Considerations Before You Upsize

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1. Can You Afford the Upgrade Long-Term? It’s not just about the purchase price, bigger homes often mean higher mortgage repayments, rates, insurance, utilities, and maintenance costs.

• Use the Sorted mortgage calculator to model repayments.

• Factor in ongoing costs like council rates and higher power bills.

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2. Is the Location Right for the Future? If you’re upsizing for schools, commute, or lifestyle, ensure the location will serve your family for at least the next 5–10 years. Check school zones and local amenities.

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DID YOU KNOW THE AVERAGE NZ FAMILY CHANGES HOMES EVERY 5.5 YEARS?

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3. How Will the Move Affect Your Financial Goals? An upsized home can be a lifestyle asset, but it might slow your investment or retirement plans. If building wealth is still a priority, talk to a financial adviser or use Sorted’s Goal Planner to weigh trade-offs. I can also recommend Opes+ Wealth Planner.

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4. Market Timing & Selling Strategy. If you’re selling first, understand your likely sale price and how it aligns with buying in your preferred area. Use resources like settled.govt.nz to understand the buying/selling process.

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Upsizing Strategies

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• Sell First, Then Buy: Gives you certainty around budget but may mean temporary accommodation.

• Buy First, Then Sell: Works if you have strong finances or bridging finance, but carries more risk if your home takes longer to sell.

• Conditional Offer: Purchase is subject to selling your current property, less risky, but can be less attractive to sellers, and has the possibility of falling over if you can not find the right home in the right time frame.

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How a Real Estate Agent Can Help

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A good agent will:

• Provide a Comparative Market Analysis (CMA) so you know your home’s likely sale price.

• Recommend timing based on local demand trends.

• Advise on presentation and staging to maximise your sale price.

• Help you negotiate both purchase and sale so you can align dates and reduce stress.

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You can find trusted information about choosing an agent via settled.govt.nz.

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Upsizing can deliver the extra space and comfort your family needs, but it’s a decision that should balance lifestyle benefits with long-term affordability and financial goals. By assessing your needs, researching your options, and getting the right professional advice, you can make your move with confidence. 

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If you’d like a clear picture of your current home’s value and the options for moving up in the market, we can prepare a no-obligation Property Appraisal tailored to your suburb and property, so get in touch today.