How to Decide Apartment Size when buying a Home?

When looking to buy a new apartment, decide apartment size on the basis of your present and future requirements.

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Nowadays we are very much accustomed to living in an apartment and if that apartment happens to be in a great location having a competitive price as well as modern features, then life becomes abundantly comfortable and convenient. However, finding the right property can be cumbersome, especially if you are not sure what kind of property you are looking to buy.

One important parameter to consider when you are looking to buy an apartment is the apartment size. As an apartment buyer, everyone has own preferences and requirements due to which there is variation in apartment size. Real estate companies in Bangladesh offer standard unit sizes including studio apartments as well as apartment units of 2 or 3 bedrooms, the number of bedrooms can even be greater if it is a luxury apartment.

To determine the right size for your apartment, you will have to consider several factors, such as number of family members and living members, overnight guest situations, amount of furniture, desired closet space, type of family members (grown up or children or unmarried ones) and your financial solvency to buy an apartment.

Both large and small sized apartments have their pros and cons. For instance, if you are looking to buy an apartment of bigger size, it will have the following drawbacks:

  • You will need more time for maintaining and cleaning the
  • You will require more furniture for decorating your apartment.
  • Your utility bills such as electricity, water etc will be higher due to greater number of rooms.
  • You will also have to pay higher income tax and insurance.

On the contrary, buying a small apartment despite being cost effective may possess the following challenges.

  • In the future, you will require more space for your growing family size.
  • You will have less storage space with a small apartment.
  • You will have less privacy and personal space.
  • You will have to forego space for entertainment room, spare room etc.

Finding an apartment size that is just right for you

As already mentioned, buying an apartment of bigger size may be a waste of money and opportunity cost, whereas buying a small apartment may be a constant headache. So the question arises, what is the right apartment size to buy? The following considerations can guide you in finding the right property:

Lifestyle

If you are an outdoorsy person who rarely stays at home or has to work 6 days a week, chances are you will have a vacant apartment with lots of unused spaces in which case a small apartment may be suited for you. Or if you love hosting dinner parties and entertaining guests in your home regularly, then obviously an apartment with bigger living and dining space may be more up your arena.

Family size

One of the vital factors when choosing an apartment size is your family size, which is the number of family members you will be sharing your apartment with. For instance, are you looking for a single family home or buying an apartment for joint family? Do you have kids and how many or if not, how many do you plan to have?

Future plans

Buying an apartment is a lifetime commitment. Before buying you need to envision if you see yourself in the same community after several years. Do you have career plans to shift elsewhere or other plans to travel abroad? What is the purpose of owning the property? For instance, if you do not have long term plans to stay in a neighborhood and have a small family, then a small apartment is more suitable for you.

Also you need to consider your saving plans. For instance, if you want to save money for your children’s education or retirement plans then you might want to consider buying a reasonably sized apartment.

Determine your apartment size

Once you have an idea of your wants and needs, it becomes relatively easier to find the apartment with the right size. From your current home or apartment space, you can even estimate the apartment size you wish to buy when looking for apartments for sale. Follow these five steps to find the right size:

  1. Measure and record each of the rooms in your current apartment, keeping in mind the purpose of each room. It will include your bedrooms, bathrooms, kitchen, living room, dining room, storage room etc.
  2. Pay attention to the current space and enlist whether you need a bigger space or not. For instance, perhaps you could use a bigger master bedroom and a smaller dining space or more space in the kitchen for greater functionality and so on.
  3. Write down how your needs for each space may change in the future. For example, if you plan to have kids you will need to add another bedroom or if you think you need to work from your home, you might add a home office/study room when looking to buy a new apartment.
  4. Given the current utilization of spaces and your future needs, adjust the room sizes until the spaces feel right. Take note of the spaces which have been rarely used in the last 1 year. Also consider the rooms in which you and your family spend most of the time, for instance, if your family members spend most of their time in the bedroom, then you might get an apartment with bigger bedroom or if they spend a lot of time in the living room, then consider buying an apartment with bigger living space.
  5. Add up or deduct the adjusted numbers to find the approximate apartment size of your new home.

After careful consideration of the above points, hopefully, it will be easier for you to buy a home with the right apartment size. To locate apartment of your desired size you can browse through bti properties for sale.