Rent vs Buying – (part 2) Your Living Lifestyle
June 16, 2015
Rent vs buying your next home; which is best for you? Before you can determine the answer to this question there are two things to understand your finances and your living lifestyle. In my last blog we discussed your finances this we I will cover your living lifestyle.
Ok lets talk… Your living lifestyle. Do you truly understand what your living lifestyle is? You may be thinking, “What does my lifestyle have to do with buying a home?” Trust me…it does! Typically buyers who look past this question are first time home buyers… Including myself ;) As first time home buyers we get all caught up with the excitement of paint colors and new furniture. This is totally normal as homeownership is something that many of us have dreamt about as children and in adulthood. When I purchase my first home I too was caught up in the excitement of finally buying my first home. It took the opinions of a seasoned home buyer, my Mom, to help me better understand my living life style.
I remember like it was yesterday. I was ready to write an offer on MY house!!! I was in LOVE…or so I thought. I took my Mom along with me because she hadn’t seen the house yet. After we walked through this cute little house my mom looks at me and says, “Carmie…Where do you plan on putting all of your clothes and shoes??” There was only 1 reasonably sizes closet in the house. Then she said, “And look at the back yard…there is only a patch of grass!” At first I considered putting up a counter argument but what she said just made way too much sense. But she wasn’t done there. Like any other great mom she asked me to wait on writing the purchase offer, to go back to my apartment and look at my stuff…really look at my stuff and all the things I like doing at home. So to make a long store short… Mom was right. This house did not go with my living lifestyle and to this day my husband and I will talk about the house that was a shoe box that we almost bought all because of the landscaping and siding. Thank God for Moms! I purchased a home that had ample closet space, backyard with a deck and green space. And most importantly my Mom’s approval.
Here are a few tips to help you to understand your living lifestyle. Start by looking around your current apartment / living space and make a list of all the things you hate… Yup all the things you hate. Don’t worry to much about the things you love because you typically buy what you love. So you will have no issues with noticing the things that you would love to be in your new home. Your, ” What I hate / need in my next home” list may look a little like this:
Not Enough Closet/Storage Space
Small Living Space, Small Kitchen, Small Bedroom, Small Everything
Off street parking
Everything is Old
No Outdoor space, Or My Children and/or Pets Play
Now are you understanding your living lifestyle? Considering questions like these should help with getting you to better understand the next home that you will enjoy living in!