Is It Time To Buy A New Home?

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While we believe that no “right time” to buy a new home exists, it’s important that you feel comfortable when making this huge decision. Here’s a list of ways to decide if you’re ready to buy a new home now:

Buy A New Home Now If...

  1. You’re starting or expanding your family. Whether you’re adding a couple kids or pet, you need more space. You also may need to be closer to family or certain amenities, like a community pool, an A-plus school district, and brand-new grocery stores, as you go into life’s next phase.

  2. You’re downsizing. If your kids started their own lives, don’t waste money on space that you don’t need anymore. Move into a smaller home to save on your mortgage, energy bill, repairs, and more.

  3. You need a lifestyle change. Your home is a reflection of your life. If you’re interested in bright lights in the big city, keep renting for the atmosphere. If you have more responsibilities, find security for your family in a peaceful HOA community. Whatever your lifestyle, find a home that suits your needs.

  4. You feel stuck. It might be work, finances, or relationships. This feeling of stagnation isn’t good. If you genuinely wonder why you live where you live, look into a new construction home for a fresh start. You can put your time and attention toward home decorating, throwing a housewarming party, joining the HOA, and more to combat idleness.

  5. You live in a bad neighborhood. If your current living situation is less-than-ideal, pack up and go. Most new construction homes are in desirable, safe, and secure HOA neighborhoods, so start looking for new construction before it gets harder to sell your old home.

Buy A New Home Later If...

  1. You’re in a serious relationship. If you’re in a steady romantic relationship, it might be time to talk about living together. This is a huge step, so instead of fighting over which apartment you’ll keep, talk about moving into a brand-new home together.

    Purchasing a new place can be spatially, financially, and emotionally rewarding for romantic relationships.

  2. Your dream is bigger than your space. Do you want an at-home fitness space? Do you need a bigger gourmet kitchen to start a cooking blog? Do you want to host grand holiday parties?

    Dreams change as goals are achieved. Wait for a while to see if your dream sticks around before making this huge decision.

  3. It costs you less money. If you’re putting hundreds of dollars toward home maintenance or rent, do a financial audit. See if you can use energy efficient maintenance methods or tricks to bring down your energy bill, or talk to your landlord about a rent decrease.

  4. Your commute is terrible, or you got a new job. Commuting to and from work each day takes hours out of your week. Imagine what you could be doing with those extra hours -- taking up a weekly yoga class, walking the dog in the morning, meal prepping for the week.

    If your commute isn’t all it’s cracked up to be, move to a new home that’s closer to the office. However, you can also check out these no-fail ways to make your commute easier.

  5. You don’t have enough storage space. So many Pins exist for re-organizing kitchen drawers and bathroom sinks before realizing you just don’t have enough space. If a cabinet remodel makes your life easier, then go for it. However, don’t glance over the fact that this might be a subtle sign to eventually move into a bigger home.

Aside from when you’re personally ready, you should consider the time of year to begin house hunting based on inventory, resale home, and more.