Things to Consider Before You Select Your Forever Home
By: John Garcia | Date Posted: September 10, 2021
Do you want to select your forever home? This article will help you with choosing. The term forever home is relatively new, and it refers to the home that you do not plan to leave, at least not voluntarily. Many people purchase their first home and make no secret of the fact that it is their starter home, declaring a clear intention not to be there forever. When that is the case, you can make certain concessions.
Perhaps your starter home does not have the lot size that you want or has one less bathroom than you ultimately see your family needing. While these are all common things to compromise on the first time around, you are going to want to really think about the forecast of your life when you are deciding on your forever home.
Aging in Place
When you are thinking about the home that is going to take you to the end of your life, you cannot ignore the facts of reality. While you will not be able to anticipate and plan for what growing older will exactly mean and look like for you there are things that you can pretty much count on.
Some examples are the ability to maintain a large yard, proximity to loved ones, and moving freely around your home. While you may be in top shape now, it is not uncommon for things as simple as climbing stairs to become unbearable for people as they grow older.
If you have or are looking to purchase a multi-level home, you still have options to consider. A home lift can alleviate the issue of climbing stairs and is also not something that needs to be installed the second it is decided upon. If the perfect house for you and your family is functioning well today, keep the solution of adding a lift in your back pocket and know your options for when/if the time comes to create some ease in your daily life.
The home lifts comparison experts in England can discuss with you the various models, installation processes, and price points that you will be able to select from so you are not surprised with the facts at the last minute.
Staying in Your Current Home vs Moving
Maybe that first home or even the second one that you purchased feels like the forever fit, and you cannot imagine calling another dwelling home. In that case, you should think about the renovations that are going to be necessary to continue to have this housework for you. Regardless of if you plan to do the work yourself or outsource it, you need to know how to renovate your home efficiently and on a timeline that makes sense. The budget will also play a large role in these plans.
How do you plan to fund this renovation? And at what scale do you plan to do it? If you are doing major things like adding square footage, digging out a new basement, or changing interior structure, you may have to live somewhere else during the renovation, another cost consideration.
Conversely, if your plans are more aesthetic in nature you can probably create a list of priorities and tackle these projects a little at a time. The longer you are in your home and paying down your mortgage the more equity you are going to earn, which can be tapped to renovate your home. Think about different possibilities for payment and assess what makes the most sense for your long-term financial plan for yourself and your family.
Where your home is located is just as important as what is inside the four walls. When you are forecasting your life, think about where it makes the most sense for you to live as you grow older. Do you want to be close to loved ones?
Do you need to be close to the city center in case you can no longer drive yourself around? Do you need to move into a community for people in your age range and demographic? The answers to these questions will all dictate a very specific living situation. As you look towards the later part of your life, think about your mental health as well.
Isolation and loneliness are incredibly common among seniors and where you live can directly impact this.
If you have children, you will not ever be able to guarantee that they will stay where they are at when you are selecting where you will spend your forever, but what you can hope is that the declaration of this being your forever home will be a factor in their decision making as their lives move forward as well.
Look beyond just the holidays and think about how your daily life will look. If community matters to you, it will not matter if you have the kitchen of your dreams if you feel alone inside your home.
Forever is a long time, and also the word itself has a finality to it that can take the wind out of your sails. Think about your readiness when you are thinking about a forever home. There is no blueprint for when you need to leave one home and move on to the next, or if you ever have to at all.
Making a major life choice in advance of having the confidence and peace of mind that is essential for success can backfire on you. If you are not in a rush, do not be in a rush. It is perfectly acceptable for these conversations to take place over the course of a few years, or even a decade.
Planning is going to be your best friend in determining when you are ready to call anyone home your forever. Have lists, say things out loud, make conscious choices that support your plan, all of these things working in tandem are going to help you prepare, and lend themselves to a choice you are completely satisfied with when the time comes.
Specifically, in terms of finances and family planning, it is unlikely that you will be able to make such a huge choice on a whim anyway, so let yourself daydream for a while and never lose sight of your vision.
Thank you for reading!