Lifestyle Considerations
Home ownership comes with some changes, but it’s important to consider your lifestyle when deciding what and where to buy. A few compromises are reasonable, but you won’t be happy if you need to completely overhaul your lifestyle just to own real estate.
Here are a few lifestyle questions to ask yourself:
Location
Are there any amenities that I use frequently and would like to be near?
Do I plan to move jobs? Is work-life stable, or is there a possibility that I’ll be working elsewhere within the next few years?
Space
How much space and how many bedrooms do I need for my family? If there’s even a slim possibility my family size will grow, do I have enough space for that?
How many bathrooms does my family need to get ready in the morning without chaos?
Do I have enough room to entertain guests? Is a spare room or large living space important?
Maintenance
Do I enjoy maintenance work? How about painting, carpentry or sewing? How much maintenance am I willing to do on the house?
How much lawn maintenance do I enjoy doing? Is having a large yard worth the extra work? Do I want a garden?
Money
How much can I afford? How much do I want to afford?
How often do I eat out at restaurants or fast food joints? Would I rather have a nicer home or the freedom to hit the town on Friday nights?