Singles

People often make better decisions with a second independent opinion.

Buying a home for the first time or maybe the last time (and we mean that in a positive long and happy life kind of way) is full of fun and excitement and it’s also full of issues. Issues that if you face them and manage them well, will result in the fun continuing after you have moved in. Most of the singles we buy for are women and they fall into 3 distinct categories – pre relationships (maybe by choice will remain that way), split relationships (sometimes not really that single with a little team often requiring accommodation) and post relationships (women outlive men).

Two big macro issues we discuss are what do you want now? (fairly obvious – although position as apposed to type of property is often discussed at length) but equally and sometimes more importantly what do you want in the future? We all move in life and our advice is a smart purchase now will continue your emotional and financial freedom in the future. Is the place you are buying now big enough for a child, or is there room for a partner, or will it rent out well if you want to move? Will it keep pace (growth wise) with other homes so as you can afford different accommodation in the future (65’s live to 85 – that is 20 years – what did the home market look like 20 years ago).  These are all valid, sensible questions that will allow your wealth and security building to continue as relationships develop and possibly falter – meaning you didn’t sell, you rented it or you renovated it and in 10 years from now irrespective of your status you have a fantastic and protected asset – rather than you bought, sold, rented, bought, still big mortgage, little equity kind of asset.

But home purchasing is not all about macro issues – what about micro – well maybe security is a macro issue. Lets take one security issue – car parking. Young and trendy don’t need a car park? We suggest you do – when it is late at night and the street is full; do you have a child under 3 years – what about their safety plus managing 3 shopping bags ? Would it be a good financial decision to resell a home with all the stamp duty, fees etc just because you got sick of or worried about the parking. And finally on this matter would the resale of a home in a market that is not as strong mean that you will have enough financial fire power to stay in your settled and favoured area and now buy a home with a car park.

Steps (the walking up and down kind) are a micro issue or are they? – when we have a partner (the ones that aren’t useless) a sprained ankle, broken leg is annoying but survivable. By yourself, should an accident be something that means you have to move out temporarily or permanently? As we get older we all get a bit set in our ways and home change is something we normally want to minimize when we are settled in our area, lifestyle and homes.