Welcome to Part 2 of The State of Real Estate. If you missed Part I, you can find it here.
Last time, we focused on the logistics of home buying, but this time, we'd like to focus on how to align your home purchase with your core values.
There are no "right" and "wrong" answers because we all have different values and want different things out of our home buying and home owning experience.
Values to Consider When Buying a Home
Think about your why.
Why are you buying now?
Can you wait and buy later?
Are you willing to pay more to be in a home now?
Be deliberate about how much home you need now and in the coming years.
Are you planning to have children?
Will you retire soon?
Are you going to age at home?
Do you want to purchase a new, move-in ready home for potentially more money, or are you willing to save money now and do renovations later?
Will you return to work in the office, or do you need to plan for a work-at-home space?
Just 18 months ago, this question wasn't really a consideration for most homebuyers, but for many, it's now something to think on.
Think long and hard about what you do and don't want in your home.
I have clients who bought a home with a big yard because they thought they'd love gardening and yard work. It turns out they hate it. So, now they're looking for a townhome.
What community features are important to you?
Do you value walkability?
Do you want to live far away from your neighbors? While living in the country might sound idyllic, consider that you'll drive 20-30 minutes just to get groceries.
Do you want your children or future children to be in a certain school district?
When thinking about where to live, consider what you want your day-to-day to look like.
With the rise of remote work, you can live anywhere.
Many people are leaving California. But when I think about my values of health and food, I'm not sure that would work for us. My wife and I are vegetarians, and California offers some great vegetarians options and amazing produce.
Do you want to live near family or blaze your own trail?
When you purchase a home, it's good to be clear about your values and goals for the present and the future.
You want to be sure your home is a reflection of those values and that you're always spending your money in a way that's aligned.
The Sweet Side of Finance
Tune in to the blog at the end of the month for my latest recipe (which my newsletter readers already know about).
This month, we're talking about buying a home, and nothing conjures up thoughts of sitting at home by the fireplace like this upcoming recipe!