Just because the house that you're thinking of putting an offer in on ticks all the boxes, it doesn't mean that the house is perfect for you.With the saying "location, location, location" in mind,
Will You Love Your Home Forecer?
Do you remember when you bought your house? You were handed the keys at the closing table and moved-in full of hope and anticipation for the future. There were features of the house making you fall in love at first sight. Was it the neighborhood itself, or the open-concept, or the up-to-date kitchen that made you swoon? There were updates needed that you overlooked: the peeling wallpaper in the bathroom or the neon pink bedroom screaming for a coat of neutral-colored paint. Like with anything long-term, our love-hate relationship with our home’s waxes and wanes as the years roll by, and sometimes we question whether the home that we so loved years ago will continue to meet our needs for today and for the future. Below, three reasons to stick-it-out with the home you're in.
1. "Location, location, location." It's not a cliché term, its real estate's number one rule. The truth is that you can buy the "right" house, but in the "wrong" location. And, you can always remodel a house or alter the layout of the home, but you can't move the structure itself. For example, thinking of buying an average 3-bedroom 1-bathroom ranch style home? Great! Now picture the location: either next door to the rail road tracks, or on Malibu Beach. You can always change the structure of the house, but you can't change the view, the school districts, proximity to recreation and nature, entertainment and shopping, or the economic stability of the neighborhood. If you like the location of where your house is, you may want to think again before packing your bags.
2. Starter homes invariably come back as “downsizers”. When you bought your "starter home" it may have been before a significant other, kids, pets, or the need for a home office. If your quarters are getting a little cramped and you're thinking of up sizing, consider the length of time that you will need the added space and what would be the long-term plan after said space is no longer needed. When the kids do move out, for example, will you be looking for the house that you're living in now? Would it make more sense to add-on or finish the attic or basement for added rather than move if you love your neighborhood for the short term?
3. Upside-down on your mortgage. Being upside-down on your mortgage means that you owe more on your mortgage than your house is worth. If you can afford the mortgage payments and don't have to move, staying put while your house builds equity may be in your best interest.
Sometimes we grow tired of the same four walls of our homes. We dream of something "bigger", "better" or somewhere "warmer". It may be tempting to scan the house-hunter sites on the internet for our dream houses with the latest amenities and features. Sometimes, though, the best thing for us to do is to stick it out with the home that we're in for the happily-ever-after that we're looking for.
Melissa Rolland is a Real Estate Salesperson and Realtor®, Accredited Home Stager, and author of the book Straight from the Kitchen Table: Every Day Real Estate. She lives in Tolland, CT along with her husband Todd, an Associate Broker and Realtor®. Together they manage the Rolland Realty Group powered by eXp Realty of CT, LLC. You can connect with them at www.RollandRealtyGroup.com or (866) 408-8059.
Melissa Rolland is a real estate salesperson, accredited home stager and has been a real estate investor for over a decade, helping hundreds of homeowners buy houses, sell houses, and invest in real e....
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