02/02/2024
Grab a coffee and lets chat about why your first home is NOT your dream home 👇🏻
Not to burst your bubble but…Your first home doesn’t have to be nor should it necessarily be your “dream home.”
It is important to look at your first home as a stepping stone to your dream home or forever home. If you think about anything major in life, you never get there in one shot or one day, think: loosing weight or getting stronger/gaining muscle, earning a degree or masters degree, saving money, landing your dream job or learning to drive a standard car.. All of these things take time, and you likely started small and worked your way up, one day at a time. Buying your first home should be similar.
I’m not saying you shouldn’t love or like your first home, and it is important that it still works for you and your family at the stage your in but, it is ok to settle on certain things if it means getting you into the market. For example, you may settle on not having a garage if it means you can buy in your desired neighbourhood — a garage can always be added down the road AND will add value to the home. You may “settle” on a home that needs some TLC instead of that shiny new show home you saw! Yes, even if it means it has mustard yellow closets and lime green walls (been there!!)
Especially in a hot market, it is important to take into consideration that the longer it takes you to pull the trigger because it’s not the “perfect home” or your “dream home” the longer you are delaying the process of owning and thus loose out on earning that equity that you could be gaining. Another thing to note is — let’s be honest, for most of us our “dream home” or perfect home is well outside of our budget, no matter how big our budget is!
So, I am not saying to go out and buy any house or a complete dump but I think it is important to be flexible on your expectations when it comes to buying your first home and see it as simply a stepping stone (it may take a few steps!) to eventually getting you into your dream home…
Whatever step you are at — reach out if you are thinking of making 2024 the year for home ownership & let’s make a plan that works for you!
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Chanel Little
Century 21 Bamber Realty Ltd
📧[email protected]
