A Forever Home vs. Something For Now

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Cervone Deegan + Associates knows that most people today will buy a home that fits their current needs and their current lifestyle. While you might think you will find the perfect home for the long term, things don’t always work out that way. Sometimes your longer-term needs may not be something your present circumstances can accommodate so well. Here is a closer look at the subject. 

The Difference 

If you are buying a home that fits your current needs that you plan on for just now, you are probably thinking about what your current lifestyle is and how much you can comfortably afford today. You also will need to think about how much you may need to save each month going forward toward the home you will someday trade up to. If you are looking for your forever home you will need to consider other things like anticipation of future needs. For example, if you expect that your family will grow, you may need to focus on space first and updates second as they can be done in time.

When to Buy a Forever Home

A few things need to be considered when looking to buy a forever home. While you need to be sure it is affordable with manageable payments, you also need to assess future needs. Is this in a location that will be appropriate for you for a long time? Will it give you enough space? Or will it be too much space for you eventually to take care of? Give thought to your future life to help audit your longer-term needs.

When to Buy a Home For Now

Just like a forever home, a home for your current needs should also be assessed. For example, maybe you know you aren’t ready to settle down now. Maye you know you may want to make a job change that may come with a relocation. Or maybe you want to own your own place but don’t have the money today to afford the home you ultimately want to live in someday. So starting in a smaller, more affordable one is better for you now.

How to Decide

The good news is there are not any wrong answers. In the end, it comes down to what you are comfortable with and most of that has to do with your current budget. Seeing what you can afford and what is out there for inventory will help you decide on what type of place you can buy these days. Ultimately both are great options for ways to get into the homeownership game. We are happy to help assist you as you try to decide on which way to go!

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