If you are among the lucky homeowners who secured a low interest rate on a mortgage a few years ago, you might not want to move. That doesn’t mean your current home works for your family. Whether you’ve added a new baby, need a home office to work remotely, or wish you had an extra bathroom, many people need a bigger space.
However, rising home prices and high interest rates may make moving to a larger home too expensive at this time. Fortunately, there are ways to improve your current home and make it more livable for your family, without having to move.
Build an addition
The most obvious way to create more space in your current home is to build an addition. Whether you build an extra bedroom or a communal living space, you can make your home more spacious and more valuable at the same time.
Research shows younger generations worry about financing an addition or large-scale renovation, but 60% of baby boomers save for their home updates with cash. If you don’t want to wait to save up for an addition in cash, you could expand your home’s footprint and increase its value by using your built-in home equity.
Declutter
If a home addition isn’t in your budget, consider decluttering instead. You’ll be surprised by the significant impact a full-scale declutter and clean can have on your space. It can be hard to get motivated to do this, especially if you are sentimental or love to shop. However, getting rid of belongings is the easiest way to feel less claustrophobic in your home.
If you need accountability, consider hiring someone to help you declutter. A professional organizer can help you make decisions about what to keep and make suggestions about how to store things more effectively.
Remember that decluttering is more than throwing away trash or donating clothes. Sometimes it means downsizing to a smaller couch or getting rid of an extra piece of furniture, which can go a long way in helping a room feel more spacious.
Re-energize and refresh
If you feel like you need to move because your space is too small or needs too many updates, sometimes all you need is to re-energize and refresh the space you already have. There are many low-cost upgrades you can make, such as adding a new coat of paint, changing light fixtures, or purchasing new throw pillows or other decor.
Sometimes, if you can make your home feel different when you walk in the door, it can mimic the same feeling of living in a new place without the stressful and expensive move.
Create a backyard oasis
Another way to enjoy your current home is to transform your backyard into an oasis. That might mean adding beautiful landscaping, an edible garden, a deck, or even a pool. Spending time outdoors is good for your mental health, and having a serene space to enjoy the outdoors can help you love your home more.
If you need more storage in your home, but don’t have space to add it, you can also install a storage shed in your backyard. Additionally, building a tiny house or accessory dwelling unit in your backyard can create an additional income stream.
Creating a gorgeous backyard can also attract top-tier buyers or increase the money you get from a cash home-buying company if you decide to sell. Of course, if you create the ultimate serene backyard, you may never want to leave.
Stop shopping new listings
Stop spending time looking at new home listings if you want to make your current home work for your family. Seeing current homes for sale can lead to discontent and make you feel like you should move. Instead, search for design inspiration for various areas of your home and redirect your energy to making your current home as peaceful and beautiful as possible within your budget.
Ultimately, if you want to stay in your home because it’s financially the best choice, make a commitment to appreciate and improve your current space. Once you do, you’ll see your current home in a new light and can find creative ways to make your space work for you.
Then, if you feel like it’s time to sell years down the road, you can contact a traditional agent or a cash-buying company that’s interested in purchasing a decluttered, updated home.
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