Even if you think that none of the factors of location, appearance, size, who will buy it next, crime, or city improvements are a concern for you in your future forever home, there is still the equity factor that you need to consider. Real Estate is an asset that in almost every instance appreciates, that is gains value over time. Equity is still related to the other decision factors. Even if you think you’ll never sell your home and you have no heirs, the increase in value over time will give you equity in your home. Equity is something that can be used in multiple many ways. Banks will give low interest loans for equity, that money can be used to pay off debts, make improvements, be reinvested into investments that pay higher interest, and many more opportunities. Equity alone should be a major influence in deciding what home to purchase.
So don't remove the emotion of buying a new home, because it can be an exciting and joyous time, but do your best to remove the emotion from the decision making process. The more you are confident in your purchase, because you did the research, the more you can celebrate the great decision of buying your next home.
See the other Blog posts that continue this topic: