Top Reasons why Families want more Space
Ideas on how to Achieve having additional Space
There are many reasons for needing a larger home, however, with the prices of homes these days often clients need a strategy in terms of affordability.
Families are beginning to move in together and purchasing a single-family home with a suite. What we are calling “pooling” their money.
Gifted down-payments are becoming increasingly popular as parents and grandparents want kids to be able to purchase real estate while they are still alive.
A new home is always enticing, however, an older home can be just as nice and if you are handy there is opportunity to make it your own.
Families are getting creative with how they are purchasing a home and It doesn’t have to be a detached home. There are plenty of nice townhomes with a patio and yard that is a great step up from a condo.
Please do not feel pressure with keeping up to Family and Friends
My advice is please do not feel the pressure of family and friends who may have purchased your ideal home. From the outside looking in you may think wow that is exactly what I want and wish I could have that. You have no idea the debt load that they may be carrying. House poor is very real and does not allow you any room in your monthly budget to do anything outside of paying your mortgage and the necessities of life.
You may need to start with a large condo or a townhome but know that is okay just getting into the market is a huge feat and something to be proud of and is a steppingstone
I have many clients who want to purchase a home and a few times a year we meet and go over the numbers and see if it is becoming more feasible for them to purchase.
It can take time and sacrifice, however, I will help guide you every step of the way.