Find the ideal home for your current life stage
No matter your life path, there are financing options to help pave the way so you can settle into the place and property that best fits your needs. Consulting a Licensed Lending Officer at (888) 983-3270is a great place to start.
Here are tips on how to search for a home at different life stages. Keep in mind, these are general terms. Your path may take you in a drastically different direction. The key is to identify what works for you and seek out the areas and living conditions where you feel most at home.
Single professionals: entertainment and cultural locations
As we know from many a TV sitcoms, for 20-somethings, friends can become like family as they navigate career and dating in glamorous big cities. They dine at trendy restaurants while seeking their elusive perfect match. Even so, you may still want close proximity to work and a diverse area in which to enjoy a satisfying social life.
If privacy isn’t a top priority, band together to get a larger space and, if you can afford it, don’t be afraid to buy when you’re young and single. You can rent rooms to help with the mortgage payment and set yourself on a path to owning real estate early in life.
Married and starting a family: room and functionality
Once you’ve decided to settle down and have children, priorities change. Space, safety and schools push their way to the top of your needs list. Proximity to grocery stores takes precedence over dining at the hottest new restaurants. Other priorities might include number of bedrooms, storage space, backyard size and quality education.
If you can't find an existing home that has all of these things, consider one that can be renovated. This will likely be the place where you live out your longest life phase, so make sure it’s adaptable and suits your needs.
Empty nesters: less space required
The time inevitably comes when your kids grow up and move on. That’s when many parents seek to downsize their homes to save on maintenance and expenses. Maybe warmer climates are calling your name or you need to move closer to family that has relocated. This could be your chance to find a smaller space.
At this life phase, you may look for a more modest home in a dream destination, such as a mountain cabin, beach bungalow or a lake house. Leaning toward a more minimalistic home could fit perfectly with plans to travel more.
Retirees: convenience and independence
As many retirement communities suggest, people in their golden years enjoy modern conveniences, organized activities and social opportunity. One thing experts agree on is that planning is key when making these decisions. Carefully evaluate your finances, lowered income, personal preferences and medical history – and visit where you want to live before making your decision.
Getting a home that fits into your different life stages requires careful research and having the right financial plan in place. Speak with a Licensed Loan Officer at (888) 983-3270 or click here to get started.