If you are shopping for a home, one of the many decisions you will need to make is how large a home to buy. The average square footage of houses has increased over the decades; the median in the US is currently just over 2,000 square feet.

Do you really need 2,000 square feet? Could you get away with less? Should you consider buying more? Let’s discuss how you can calculate the ideal house size.

How Much Square Footage Do You Need Per Person?

The primary consideration when you are trying to calculate the right size home to buy is how many people will be living in it. Be sure to think about future plans (i.e. children you might have years from now), and not just the present.

The usual estimate for how much square footage each person needs to live comfortably is 400-600 square feet (there are exceptions; see the next section).

So, let’s say you need a house large enough for a family of four. At the lower end, you could get away with 1,600 square feet. At the upper end, 2,400 square feet should be plenty. If you wanted to go in between with 500 square feet per person, that would put you at 2,000 square feet, right around the median house size.

Budget and Personal Preferences are Additional Considerations

How should you pick what you want in that range? Well, budget is one key factor. If you have a constrained budget, a smaller home will be more affordable (all other things being equal).

In some cases, you might also decide to buy a smaller home even if you can afford a larger one. Perhaps you might do this because the other features are more luxurious, or because you simply prefer a smaller house.

In fact, some people are now living in tiny houses that measure around 300-400 square feet in total. It is easier to do this as an individual, but we are seeing small families living in tiny homes as well.

That might be a good option for some, especially on a tight budget (plus, it is a valid lifestyle choice). But there are some serious drawbacks in terms of privacy, which may not be ideal in many cases.

Plus, if you are shopping for a home in Indiana, you are lucky enough to be looking at a pretty affordable housing market compared to many other parts of the country; you might be surprised by just how large a home you can afford.

Buy a Home with a Flexible Mortgage

Now you know how you can figure out the right size home based on the number of people in your household, budget, and personal preferences. Do not forget to also think about the sizes of the individual rooms in your home.

Grandview Lending can connect you quickly and easily with a flexible, affordable home loan. That way, you can focus on finding your dream home. To begin, please give us a call at (317) 255-0062 to schedule your consultation.