Buying a home is not just about bricks and mortar. Home buyers should think about where they are in the cycle of life: single, married, divorced, with kids, without. The shape of your family affects your needs as a home buyer.
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Welcome back to Expert Real Estate Tips dot net. I’m Ilyce Glink and today we’re talking about how your personal relationship status can affect what you buy, where you buy it and how you finance it.
In my books, I talk about the cycle of life and how it can help you predict where you’re going to be in a few years. For example, if you’re single, and want to be in a committed relationship, it’s likely you’ll be in one within five to seven years. If you’re married or in a long-term partnership, and you want to have kids, you’ll probably have them in five to seven years.
Since most people stay in their homes for five to seven years, this timetable works out pretty well. If you want to get married, or if you’re with someone and want to have kids, don’t buy a one-bedroom home. It’ll be too small to grow into.
Ask yourself the following questions about your life over the next five to seven years:
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In five to seven years, will you get married? Will you move in with a life partner? Will you want to have a roommate to share expenses or will you want to be living on your own? Are you planning to have children soon and will you need to be in a great school district for them?
Do you have an aging parent who you will need to care for? Or, do you expect your children to move back in with you after college?
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The time to think about your family and the cycle of life is before you start looking for house – before you even start testing out neighborhoods. By mapping it out, you’ll be able to pinpoint exactly what kind of home you should be looking for.
For more information on buying and selling homes, visit my Web site, Expert Real Estate Tips dot net.
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