Can You Afford to Have Another Child? 8 Financial Questions to Consider

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happy family moving into new home

Living Space


This question isn't whether you want to move — it's whether you'd need to move. If so, can you afford the extra costs of moving?

You'll likely have a bigger mortgage to pay more for a larger home. Refinancing your mortgage is a way to lower your payments, but just be aware of the costs involved before making this decision.

If you rent, consider how much you'll need at lease signing. Most landlords or management companies require first and last month's rent, as well as a security deposit and sometimes a realtor's fee.

Aside from moving costs, furnishing a larger home can be expensive, too. Instead of buying all new furniture, look for easy ways to redecorate on a dime, like these 10 cheap home makeover tips.

Next: Vehicle Space

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