If 2020 was the year of staying at home, 2021 is the year of moving to a new home or making your existing home look new. Yes, after countless binge-watching sessions and fights with loved ones about space, it is time to have a change of scenery. After nearly a year of working from home, learning from home, and even working out at home, 2021 is a year that people are on the move. Before you make a very big decision, let us help with our top six items to consider before moving to a new home.
Location, Location, Location
Although this has been the real estate rule of thumb for centuries, the location has taken a twist over the last year. With commutes almost eliminated by the remote work option, now you can look at a location through a new lens. Do you want to be close to outdoor areas like parks and biking trails? Do you want to be in an area that is more remote? Do you want to be close to a body of water? Perhaps you want a stress-free family life? With work and even school taken out of the equation of location, you can live almost anywhere. The world’s your oyster. That is if you are fortunate enough to afford it.
Price and Budgeting are Crucial.
As we alluded to in our previous item, money is a crucial factor. You need to know which areas you can afford. Also, you must find out what size of home you can afford. Finding the right real estate agent will assist with this. However, you also will need to access your finances through house loan options. Although it is tempting to buy outside of your budget, debt is a slippery slope. As we have seen in the last year, the world can quickly change. Job security and longevity of a career aren’t what they used to be. Think through your price well. Always allow for a couple of hiccups and financial surprises along the way.
Future Growth as well as Downsizing
You will need to think about your future when making a new home purchase. Are you a growing family? Are you planning on having more children or pets? Do you have aging parents that may live with you at some point? Even though your current living needs are at the forefront of your thoughts, you must take some time to calculate your future needs. You may even think about it as you and your family age. Will you need a home that has one floor, no stairs, or an elevator? Do you need separate entrances for grown adults and their families to live in the same home? You can make your new home decisions for now, but it is wise to factor in the near future as well.
Safety is Very Valuable.
When you think of the feeling of home, it most certainly means a place you feel comfortable and safe. Safety is a very valuable feature in a new home. Not only does it raise the market price, but also the appeal of the home and neighborhood. Although you can score big deals on larger, more modern homes in moderately safe areas, factor in all the pros and the cons. If you decide to take the deal, you can boost your home security with these exterior tips. Small changes can make big differences to the security and safety of your home. What was once only something for the wealthy, now security cameras and systems are affordable and easy to use.
Proximity to Your Loved Ones
After a year of Facetime and Zoom family gatherings, the proximity to your loved ones is now a bigger priority than before. Most home buyers are looking to be close to loved ones. That includes family members, but also close friends. With the lesser ability to travel over the last year, it became evident that being within a short drive from loved ones makes even a pandemic more doable. When looking for a new home, find a place that feels like home to you, in which you are comfortable, and close to your connections. Let’s say goodbye to missing weddings, graduations, and birthday parties. They are important milestones.
Are You in for DIY Adventure?
Many times home buyers are looking for something modern with all the bells and whistles, but those amenities come with a pretty price tag. If money is no object, perhaps you can get a mortgage for a brand new home. However, that is not the majority of home buyers, whether first-time buyers or seasoned buyers. So, one thing you may want to consider is how handy are you and your family. Do you enjoy putting together IKEA furniture, installing faucets, or painting? If you like it and are good at it or know someone who is, you could substantially save money on a new home with a larger area, if you are up to the challenge or better said the adventure of a fixer-upper house. There are more than just financial reasons for doing this. There are many benefits to DIY adventures and home projects. You are the interior designer. You make the color choices. You are the boss.
Buying a new home is one of the biggest decisions adults make. Other than marriage, career choices, and health, where you live impacts almost every facet of your life. Over the last challenging year, we have all had the opportunity to evaluate what is important to have in or near our homes. Perhaps we found out that our homes needed upgrading or more space. Most couples and families outgrow homes. Whether it is because of remote work, kids, or pets, your needs may have changed over the years. Make sure to do your research. Use the internet to your advantage, but don’t forget to ask your connections for word of mouth recommendations. Ideally, with more information, you can make the best decision for you and your family. If you follow the above six tips, you should be well on your way to your new home. Good luck!