Buy a home for Christmas this year
Since your inbox is likely filled with Black Friday sale offers in every product category imaginable, here's one more to consider, buying a home for Christmas. Everyone is saying that real estate is overblown, that prices are too high, and that better deals will come along next year. But what do you want for the holidays, and for the new year? Those of us who got married forty years ago have silverware sets that are worth a fraction of what we paid during that bubble, and jewelry now is much more expensive than it has been, but do you see people getting married without rings? A home is a lifestyle choice, and should be thought of that way.
Investment for the Future
Your money can go toward foodie treats, fancy resorts, or fast cars. It can also go toward something that will build savings for the future, shelter a family, and provide memories for a lifetime. Although prices are higher, interest rates are still very low, and that's what sets the monthly fee. It becomes a form of enforced savings, because the monthly mortgage payment comes out of a budget before entertainment, clothes, or other extras.
Owning VS. Renting
Even if the house is not expected to increase in value, and in Connecticut that appreciation seems more likely, the cost of the home has to be weighed against what would have been spent on rent. That means that the true cost to the buyer is net of what other housing costs would have been. If there's a garage, and parking near an apartment was an additional cost, there's another piece of savings. If your home brings you joy, and you entertain or just sit home by the fire, you've saved what you would have spent going out.
When a House Becomes a Home
In the vein of self-care, a heavily used term during pandemic times, there can't be anything much more important to wellbeing than living in somewhere that makes you happy. Coming home should be restful, and a refuge. If you work from home these days, that's another factor. It's easier by far to work from someplace pleasant, and where breaks can be taken in surroundings that are peaceful and spacious. Outdoor space is another factor to consider, especially if running now replaces the gym in the daily routine.
So, back to Black Friday. Before you buy another gadget or electronic upgrade, look around. Are you where you want to be? If not, make your own Black Friday plan. You won't regret it.