We’ve all heard the fantastic stories during the pandemic of how someone in the city gave up their small apartment and struck out for the suburbs, right? Well, it seems that a few may be rethinking that decision.
The stories I’ve been reading seem to have one major thing in common - almost no knowledge of the location of where they were buying. You might think that sounds crazy, but it can happen more often than you might think. Once these buyers get to the new place, some have found the renovation of a property daunting or unexpected, appreciate they don’t want to handle somewhat mundane issues, or realize they don’t even like the distant suburbs.
One way to avoid this problem is to really get to know where you think you want to live. Even though it may not fit with the timeline you want, it’s best if you can do a few simple things before you take the plunge on a major purchase like a home. Some ideas include: Visit 2-3+ times (on different days of the week) to get a sense of the place, visit the local shops and restaurants, talk with friends who have knowledge about the area, read online about the community, and talk to a real estate agent.
If you think you’re ready to leave the city for a whole new way of life, then ask yourself a few questions: Do I mind an hour+ work commute each way when things go back to normal? Will it bother me if I can’t walk to the local shops and parks? Will I feel isolated in my new setting? Do I have time and basic maintenance skills required for the upkeep house or am I willing to acquire them?
I’m sure there are plenty items to ask yourself about, but you get the idea. So do your homework, hone in on what you think you like, and decide on the basics before going further in the process.
It may seem like a lot of work, but buying a home in a location that you’ll be happy with for years to come really is worth it.