Should This Be Your Starter or Forever Home?

According to the U.S. Census Bureau, the average American moves 11.7 times throughout their lives. Between the ages of 18 and 45, a person usually moves 9.1 times. However, statistics shouldn't drive your decision as to whether this house in Brooklyn, New York, should be your starter or forever home. What matters is if this home can grow with you and what your plans are, among other factors. 

Think About Your Career

Do you see yourself moving in the future to obtain a better opportunity, or is there room to grow at your workplace? Additionally, consider what the job market is like in your field and in the Brooklyn area. Use the Bureau of Labor Statistics to research. If you feel like your place of employment is only temporary, consider making this a starter home.

Consider the Possibilities of a Starter Home

If your goal is to buy a move-in ready home with all the features you desire, you have little room for improvement. On the other hand, a starter home can be a business endeavor. You spend less money initially, so you can possibly put more money toward improvements. You can then sell it or rent it out in the future. 

Think About Your Family Plans 

While you may save money with a starter home, the cost to build an addition and the stress of having to move within a short frame to accommodate your growing family may not be worthwhile. In this case, consider buying a larger home that has enough space for you to expand your family. 

Consider Your Investment Plans 

Do you have the time and resources available to improve this home? The initial repairs may only be the start of you investing money into this home. Plus, when you choose a smaller home, you have a limited pool of buyers in the future. 

Think About the Benefit of Planting Roots 

Depending on your age and financial situation, you may view a forever home as an opportunity to plant roots and never have to contend with all the tasks and expenses involved in moving again. A larger forever home has the potential to grow and change as your situation evolves. If you have more kids, you'll have the bedrooms to accommodate them. Once your kids are grown and move out, you'll have space for a home gym, crafting room, or den. 

Consider Price 

As you decide, factor in the price of maintaining and running the home. Your energy expenses tend to be greater with a larger home. You also have more to maintain inside and outside the home.

Word of Advice 

Plan carefully to make the moving process go as smoothly as possible. Decluttering is helpful, and try to organize and label everything as you go along. This makes moving day and the unpacking process easier. Fortunately, you can use an online label maker to create labels that look good and are easy to read.

Take Time To Compare Your Options 

When deciding between a starter home or a forever home, carefully compare your options, and choose a home that makes the most sense for you and your family. 

To find the right home for you and your family in Brooklyn, New York, visit Tyler Vincent Real Estate.

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