Sometimes homeowners are too focused on the resale value of their new property. When you buy a new sweater, are you obsessing over how much money you can resell it for? No-you are more concerned with the use value: how you will wear it, the kind of value it will add to your life, the day to day enjoyment you will get out of it.
Comparing the purchase of a house to the purchase of a new sweater is a little facetious-a house certainly is a major investment and should be treated as such. But if you plan on living in a home for several years, don't forget to consider your living experience as a vital part of the price tag. Here are a few things to consider that are a vital part of your day-to-day experience living in a home.
1. How long does it take to drive or walk to the places you plan to visit often?
Think about how you spend your time. For example, if you don't plan on having children yourself, it doesn't make sense to opt for the "better investment" near an excellent school if it means you're going to have to drive 40 minutes to the grocery store twice a week. If a certain property suits your lifestyle and cuts down on travel time, perhaps the money and energy you save in the long term is worth any offsets in the short term.
2. How will you like your neighbors?
Noisy or rude neighbors don't affect the resale value of a home, but they certainly affect your quality of life. Ask the current owners about their experience living in the neighborhood. If possible, stroll around the neighborhood in the early morning and late afternoon, when folks are walking their dogs or getting some exercise. Even if you don't actually chat with anyone, the frequency and duration of smiles and eye contact should help you figure out the vibe.
3. How easy will it be to work from home?
If you're a freelancer or work remotely on a regular basis, this should be at the top of your list. You'll want to know what kind of internet access is available and if there are any anticipated problems, such as frequent power cuts Also, make sure the house is constructed to give you easy access to run as many cables and wires as you need to support any necessary technology. Even if you don't expect to work from home, be aware that paradigms are shifting-you may be working from home in the future, so it makes sense to purchase a home that's well primed for the addition of a mobile home office.
4. Are there things to do close by that don't involve driving?
This is especially important if you have kids Make sure there is at least one park nearby, and that the sidewalks are wide. Check out the walking routes to nearby kid-friendly attractions-don't just look at it on a map. If the playground is only minutes away but you have to cross several busy intersections to get there, it might not be the safest place to send your seven year old unattended.
5. Do you feel good in the house?
It doesn't matter if it's your best friend's dream mansion or your mom's worst nightmare: you're the one who has to live in the house, so you're the one who makes the final call. Even if the house is gorgeous and has terrific resale value, if it's just not you, you'll have a hard time settling in. Pay attention to little signs or warnings from your subconscious is there a particular room that just gives you the creeps? When you walked into the entrance hall, do you think, "Oh, that's...clever" or do you think, "...and Johnny's mittens can hang there...” If you feel good in your home, your days will be full of creativity, laughter and warmth, and you will build rich memories that are worth more than a heartfelt of bitter memories accompanied by a financial profit.
If you're in the market for a new home in Hawaii, check your options against these five questions Buyer's remorse is easily forgotten when it comes to a sweater, but regretting a property purchase can leave your mouth full of ashes for years to come. Consider the resale value, but in the end, sign on the dotted line for a home you'll love living in.