One of the biggest goals of most people you speak to is to eventually own their own home, or at least rent something that will get them out of mom and dad’s basement. From a well driven young person who pushes their way through college to the good ole country boy/girl who might make a living the old fashioned way, on a farm, each wants nothing more than to establish their own nook in the world. Here are a few things to keep in mind when the time comes.
The Market
In 2017, it’s a well known fact that the price of a place to live, whether you choose a house or apartment, is skyrocketing. The market for living arrangements can be volatile. One of the things you can do to combat this is to move to a rural community. One of the down sides would obviously be a longer commute, but the lower cost of living would more than compensate.
The prices for houses in the country, depending on what you are looking for, are considerably cheaper, because most of the housing is older. But because it is older, more often than not, it is more stable and built to last. Besides, who doesn’t enjoy making a house their own? Remodeling is a great way to spend time with your family and create a connection to your first home.
Job Stability
Searching for your first home can be exciting, to say the least, but as a young adult, job stability is something to be considered. It is a proven fact the by the time the average person is 25, they have already had 5 jobs! Some have had as many as 11. How stable you are in your job is also something banks will look at when considering you for a home loan.
If you choose to rent, the landlord will most likely consider the same information. Some questions to ask yourself might be, “Should I wait to finish college?” (Many switch majors.) “Do I have a guaranteed plan of attack, jobwise, after I graduate?” And, “Do I enjoy my job?” If you don’t, chances are you won’t be in it for an extended period of time.
Future Family Plans
One of the things we dream of as kids especially little girls, is to one day have a family. Some of us want to raise our own football team, some are happy with two or three kids, others are happy living with just their spouse, and some are happy go lucky loners. Now is the time to consider these options. Will your preference change?
Life definitely has a way of changing who we are and what we want from it, but our core tends to stay pretty constant. Meaning, if we have always loved the idea of having children, chances are we will still want them when we go home shopping. If you decide, hey, I want to have a dozen kids and you buy a house with only 3 bedrooms, you may find yourself in over your head.
Moving out on your own is an adventure! Refer back here often for tips on how to make it a please one.