Go Big & Go Home: Is Getting a Bigger Mortgage and Home Right For You?

Go Big & Go Home: Is Getting a Bigger Mortgage and Home Right For You?


Justin and Susan are a young couple who purchased their first home in Kelowna BC a number of years ago. At the time, it was perfect. They had enough space for the two of them to live and enjoy life comfortably. The payments may have seemed large at the time, but they’ve become more than manageable as they’ve both progressed in their careers.

However, they found as a number of years passed by, and they started having children, they were running out of room to accommodate their growing family. Two kids and their dog meant they had less room for themselves, and their kids were sharing a bedroom. Things were starting to feel cramped, so they started exploring the option of getting a bigger mortgage and home.

Maybe you’re in a similar situation. It only takes a few kids (or an in-law living down the hall) to make what once felt like a cozy home into a cramped space where you’re constantly trying to cram your stuff and all your kids’ stuff into every available nook and cranny.

Upsizing and getting a bigger mortgage can help you accommodate your current and future goals in life by giving you the space you need now, and the space you’ll need in the future. If you, like Justin and Susan, are considering upsizing your current home, we have a few considerations you may want to keep in mind.

Think Critically About Your Goals

If you’re considering upsizing, we recommend you take time to think about why you’re upsizing.

Is it to make room for a growing family? Maybe your parents are moving in with you and you need an in-law in suite. Keep these reasons in mind while you shop for your next home and consider different home layouts. An open concept can be nice if you need to keep an eye on little ones, however, this doesn’t block a lot of noise as children get older. Think about how long you’ll want to be at your next home and plan for your future space and layout needs as well as your present ones.

A bigger home can also mean a larger yard. While this is a great space for children to run and play, this also means more lawn to mow, and possibly more garden space to maintain. To find a home you’ll be most happy with, be honest with yourself if you have the time and desire to keep up with more yard maintenance.

family considering upsizing their home with john antle mortgagesConsider the Neighbourhood

If you’re looking for more space, it may mean moving to a different neighbourhood. If you’re trying to stay within a budget, you may want to look at moving into an area further out of the city centre to find a larger space.

Kelowna offers many family-friendly neighbourhoods such as Kettle Valley, Glenmore, and the Mission area. In addition to looking for a safe, family-friendly neighbourhood, consider the location of the neighbourhood. Is it close enough to work, schools and other amenities you frequent? Does it have features such as a cul de sac for a safer, less busy street for your children to play on?

Crunch the Numbers With a Kelowna Mortgage Broker

Upsizing your home proposes a lot of benefits. It could mean your children each have their own bedroom and don’t have to share, you have room to host large parties, and maybe even an extra room or two for hobbies you love. However, you should make sure your family is ready financially for a larger home and mortgage. See our blog on Budgeting Tips for Buying a Home for some money saving tips if you’re thinking of upsizing your home.

One way you may be able to save money on a larger mortgage is finding your best mortgage rate. This could mean changing your mortgage provider. There are many mortgage lenders available, and a Kelowna Mortgage Broker, such as John Antle Mortgages, can help you find your best mortgage interest rate.

Switching mortgage lenders can be an odious task if you’re evaluating all your potential lenders yourself. However, if you have the assistance of a mortgage broker in Kelowna, they’ll do all the work for you. John Antle Mortgages also has access to many lenders you may not be able to contact on your own. Contacting an independent mortgage broker means you may have access to even more rates than you would discover on your own.

If you’re thinking of upsizing, contact us at John Antle Mortgages. We’d be more than happy to help you find your best mortgage rate and answer any questions you may have about switching mortgages or changing mortgage providers.

If you’re considering upsizing, contact John Antle Mortgages today.

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