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Old 08-07-2019, 09:42 AM
 
15 posts, read 9,675 times
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Trying to figure out whether or not we should stay in our 1500 sq ft house of 3 bed 2 bath. (no basement, 1 car garage that is used as storage laundry and tool shed)
It was perfect when we moved in five years ago- now we have two kids and finding storage difficult. We throw out things we don’t need and I give away clothes and toys monthly just to keep up with the clutter. I still think it is great for retiring/empty nesting and we put so much into fixing it up. Houses on our street are going for $500+ we bought it $370. However the next size up doesn’t seem to be obtainable right now bc they are in the $800 price point. Really hoping that something opens up in the $600s that basically gives us a basement and another garage and bigger yard. We don’t require much more than that. Is it worth it to upgrade? (In another five years or so when kids are no longer in daycare and our salaries are higher) or should we stay? Hoping to hear from those who have gone through the same thoughts- have older kids now. Did you stay or upgrade? Thank you.
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Old 08-07-2019, 11:09 AM
 
106 posts, read 134,448 times
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If you're happy with your neighbors, school system, etc. and don't plan on having another child I would stay.

We had the same dilemma years ago. We bought a 1500 sq ft house (built in 1926) , 3 br, 2 baths. We have a basement but no garage and a small yard.

We looked, (this was in the early 1990's..about 7 -8 years after we bought the house) and we would have had to spend an additional $150,000 +/- to replicate what we had but with a larger yard and garage.

We stayed for the reasons listed above. We've been in the house 35 years. It's been paid off for about 15 years. We've gone through 2 kitchen remodels, upgraded both bathrooms and have added new ceilings and crown moldings in all the rooms and the normal upkeep you have to do where ever you live.

Both kids are grown, maried and out of the house.

And it's now our retirement home.
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Old 08-07-2019, 11:18 AM
 
3,305 posts, read 3,371,433 times
Reputation: 2575
We're crowded at 1200sf without a second bath and have talked about upsizing but not only would the finances be tight so would the additional spaces we'd invariably have to clean.

How much more space do you want in the end, 500sf? Does some kind of storage shed make more sense to put the lawnmower away in the fall or keep the holiday decorations there since you don't have a basement?
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Old 08-08-2019, 02:57 PM
 
1,521 posts, read 3,378,604 times
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if you live in a $500K house, it would cost you $35K+ to sell the house. So keep that in mind when you are considering reno vs moving. Also consider that EVERY reno, costs more and takes longer than expect expected. Mine was delayed 1 year for permits, took 7 months for a 4 month reno and cost $190K instead for $150K (about $20K for things we added and $20K for "unexpected" things")
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Old 08-08-2019, 03:07 PM
 
Location: NJ
31,773 posts, read 37,632,537 times
Reputation: 24537
Quote:
Originally Posted by Justwondering228 View Post
Trying to figure out whether or not we should stay in our 1500 sq ft house of 3 bed 2 bath. (no basement, 1 car garage that is used as storage laundry and tool shed)
It was perfect when we moved in five years ago- now we have two kids and finding storage difficult. We throw out things we don’t need and I give away clothes and toys monthly just to keep up with the clutter. I still think it is great for retiring/empty nesting and we put so much into fixing it up. Houses on our street are going for $500+ we bought it $370. However the next size up doesn’t seem to be obtainable right now bc they are in the $800 price point. Really hoping that something opens up in the $600s that basically gives us a basement and another garage and bigger yard. We don’t require much more than that. Is it worth it to upgrade? (In another five years or so when kids are no longer in daycare and our salaries are higher) or should we stay? Hoping to hear from those who have gone through the same thoughts- have older kids now. Did you stay or upgrade? Thank you.
im not sure the question is "is it worth it" or if it should be "can i afford it." of course, 1,500 is small for a family of 4 and bigger would be better. but if you cant afford it then you arent going to be very happy with the additional financial pressure that will come.
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Old 08-08-2019, 05:34 PM
 
Location: NJ
4,930 posts, read 11,299,503 times
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The thing that is hurting you most is the lack of basement. My house is about 1500 sqft and I have been living here comfortably with my 2 kids for over 10 years. The finished basement is a huge help because that is where we keep all the kids' toys as well as the laundry, and there is even an extra bathroom down there. My kids know they are not allowed to keep toys on the main floor of the house. If they are done playing the toys go back into the basement or into their bedrooms. As long as you are organized, a small space isn't that bad. With that said, I wouldn't go out and buy another house for 200K more just to get a basement. Maybe you can call one of those professional organizers to help you figure out how to get the best use out of the space that you have.
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Old 08-08-2019, 06:07 PM
 
2,500 posts, read 998,740 times
Reputation: 5974
Quote:
Originally Posted by ansky View Post
The thing that is hurting you most is the lack of basement. My house is about 1500 sqft and I have been living here comfortably with my 2 kids for over 10 years. The finished basement is a huge help because that is where we keep all the kids' toys as well as the laundry, and there is even an extra bathroom down there. My kids know they are not allowed to keep toys on the main floor of the house. If they are done playing the toys go back into the basement or into their bedrooms. As long as you are organized, a small space isn't that bad. With that said, I wouldn't go out and buy another house for 200K more just to get a basement. Maybe you can call one of those professional organizers to help you figure out how to get the best use out of the space that you have.
I agree that the finished basement is helpful for young children with toys but at a certain age kids tend to stay in their bedroom with electronics.

I wonder if some type of attached shed can be built on the rear of the house. I had a small home with a shed that ran behind the kitchen and this is where washer and dryer were located as well as storage for things like athletic equipment, etc.

That could at least free up the garage.
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