Be Intentional In Your Home Buying Decsion

Too many people go through life with no plan. This results in not achieving their life's goals. Be intentional with your decisions, know where you are going and how you will get there. This is particularly true with home decisions. Buying a home is probably the fourth most important decision of your life after chosing a spouse, a career, and education choices. Many people react to home purchasing decisions with no thought as to their long-term goals. Is the environment important to you? Then chose a home closer to work. Is wellness and fitness important for you? Then select a home near parks, recreational facilities or trails. Will your career cause you to move every few years? Then consider renting because the purchase and sales cost of frequent moves will not be offset by real estate's value appreciation. Also real estate is not a liquid asset and in times of market fluctuation you may not be able to sell your home quickly. Don't spend more than 30% of your gross income on all the expenses associated with a home. Do you want to be active in your place of worship? If so chose a home location that is close and easily accessible. If you have children check out the performance of local schools but also look behind the statistics. Some stats are adversely affected because the school districts are not afraid to take on the challenges of a larger disadvantaged school population. Want to generate maximum wealth in your home? Achieve maximum wealth by not taking a 30 year mortgage, but a 25, 20 or even a 15 year mortagage. You will be surprised what a difference a shorter term loan can make. If you are going to live in your home for less than five years do not buy the first home in a new subdivision. When you are ready to sell you could easily be competing with your same house for sale by the developer. The average term of home ownership in the United States is only seven years. In conclusion be intentional in your home buying decisions to get a jump start on the rest of your life.