Your Home Buying Decision: Are You Really Seeing the Future?
There is a distinction between selling houses and presenting properties to clients that fit their wants and needs, hopes, and dreams. You look for a home you can make within the walls of a house. Beyond the enormous financial undertaking, no home buying decision comes without a great deal of soul searching. The reasons might be anything from raising a family, to being closer to work, or to simply be in a place like Central Oregon (which is a very good reason).
So if you make a home inside of a house, what kind of house do you need to make a home? In my experience, it requires quite a lot of forward thinking.
Looking Beyond the Now
Many of my clients tend to be short-sighted when they purchase a house. That’s not a criticism by any means. They tend to look at the short-term needs such as school districts, bedrooms and baths, and of course, proximity to the activities they like to engage. Nothing wrong with that. But the needs of “now” can and will change.
Those changes can come gradually and seemingly not disrupt your lifestyle for decades. Or they may come on in dramatic fashion. Is the decision you made able to withstand both calm and stormy future?
Some Interesting Storms
We have been discussing aging in place and with good reason. The population is getting older and as we all know, houses are not getting any cheaper. There is a high degree of likelihood that you will carry your current mortgage into retirement (we’ll discuss the wisdom of this in future posts). According to study done by the Harvard Joint Center for Housing Studies & AARP Foundation, the average retired person is paying over 30% of their income for housing – which on the surface seems reasonable – that they cannot use. More than the cost of the mortgage, are the increased costs of living comfortably, having enough for food, and being close to the right services.
The study also uncovered the hope of staying in the same home well into retirement. Are the housing choices we make now taking that hope into consideration? Most don’t. In fact, many simply say they will sell, downsize, and/or move in with a relative. While those options seem feasible when you are forty, they begin to lose their luster as we age. And what about parents? Are you purchasing a home with their needs in mind?
In addition to considering whether young children might fall down stairs (they might) or how quiet the neighborhood is (vehicle-dependent location) or even how many square feet you need for entertaining, look at the house thirty years from now.
If seventy percent of people age 65 require some sort of long-term care arrangement, does the house accommodate that potential? Generally those people shun steps, struggle with architectural designs (hallways, door handles, etc.), and are unable to maintain the exterior or interior of the home. Infirm relatives can make these issues front and center long before you consider them.
I can help you with the future. No, I don’t have a crystal ball nor can I see your future. What I can address are some of the concerns you may not have considered. Your future is closer than you might think and if this is the only house you will ever buy, aren’t some of these questions worth considering?
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
Mobile: 541-420- 3725 | Mobile: 541-420- 4018 | Fax: 541-593- 5123
Licensed in Oregon