Settling down is something that we often begin to dream of when we reach about twenty-five or so. For some, it’s much, much earlier. For some, it’s much, much later. There is no single, verifiable timeline of when a person needs to ‘have it together,’ and thinking that way can often lead us into decisions that are anything but helpful. However, sometimes being too hesitant can lead us to miss excellent opportunities of settling down when the time is right.
Of course, you should NEVER feel pressured into doing so. Your best bet is to stay vigilant and confident in your personal needs and requirements, as this might help inform your decision making. No matter who you are, it can pay to take stock of your situation, and try to put in place criteria to help you make the best decision you can, informed by something much more than how you feel that month.
Consider these tips:
It might be that home loan rates are quite competitive and desirable at the time of your viewing. This might spur a decision to purchase something, as you might find yourself in a financial situation that warrants a great loan, allowing you much further bang for your buck. Of course, while this might not be a deciding factor for people who are looking for more than one reason to settle down, for those on the edge this can be the final push they might need to consider this an important use of their time.
Home loan rates do fluctuate over time depending on the strength of the housing market, but will also be dictated by your financial situation and current standing. If you seem in good stead, it might be that reviewing all of your options from multiple sources could be the best idea possible, allowing you not only to settle down well, but to squeeze the most out of your decision to settle. Who knows just how much more value you can negotiate with the willingness to try. It might take a little time, and you might initially feel a little nervous, but when you realize just how many people have taken these steps successfully, you might begin to feel a little more enthusiastic.
It might be that due to the shifting housing market, the developments in your area, or perhaps the current lending environment, that your home value is much higher than it has been in previous years. It might be that your current home is saleable at a much better cost, or that you finally have the means to purchase a home with a mortgage while also retaining the use of your previous property.
It might also be that despite the quality of a certain area staying the same, that house prices have dropped in an area due to recent developments. There are many reasons as to why the market might benefit sellers or buyers, and as a majority buyer right now it’s best to understand when those fluctuations happen. Just like attempting to acquire the best loan rates for a property, understanding the patterns of the market can often help you establish a timeline of your investing success much more clearly than you might have done, and who knows what the benefited dollar amount could be as far as this is concerned. Hundreds? Thousands? It remains to be seen, and to be seen by you.
When settling down, it’s always best you don’t do so with that act being the first and foremost thing you have in mind. It needs to be the first step to building a life. In other words, settling down should be regarded as the kickstarting of process, not a singular event. This is more important to consider than you know. Sure, the home is perhaps very affordable now, but what if you lose your job and have to seek alternate work? Would gaining new employment be easy? Could it be that your business isn’t quite as strong as it used to be, and that tying such a heavy asset to this success could be quite foolish, at least right now? Are there rumours that your main place of employment could be transitioning offices in the future, perhaps leaving little work for your current industry in the area you hope to settle down?
A mortgage is reliant on many stable circumstances in order for your application to be approved, but also for your long-term affordability and competency to help it stay funded over time. Future plans change and shift from year to year, that’s normal. But unnecessary turbulence and an incapability to truly plan for the future can be very damaging to the long-term acquisition of a property. While you might not live in this property for the next twenty years, it’s always best to plan AS IF you will be, because this can help you place long-term plans in place that help you make the most of your current home and situation, and ensure the decision you make to settle down is informed in the best manner possible from year to year.
It’s very possible that the benefits of settling down could be more than worth it. Might it be that moving closer to a work environment could be worthwhile, or that settling down might be a great way of taking over a business, such as a family store or another form of the enterprise? Sometimes cost-saving can be more than worth this positive decision, but that’s hardly all this might improve.
The benefits of settling down could be immense. It might be that finding your own home allows you to escape the renter’s monthly annoyance of never feeling like you’re fully ‘settled’ into a place.. This can help your relationship become even deeper, and obviously give you the grounding to start raising a family well. It might be that you can finally begin to develop your professional self effectively. Some businesses find it difficult to hire an executive or high-level manager that has a less-than-stable home life, so this could simply give you a little more credence as far as this is concerned.
Another important consideration is that this might be the platform from which you can move into a nicer area, and even become part of a community. It might be that your apartment complex has you living in a much denser area, but that there’s less of an active community sense there. In other words, while settling down might seem like a trap or limiter to younger people trying to find their place in the world, for some people it can feel like a more structured, freeing sense of potential.
If you and your partner both feel this way, then settling down might be the best thing for you.
The stability of your home life is often something to consider. How supportive is your relationship? How secure and reliable is your income? If you can’t consider your home life to be very predictable and reliable now, then purchasing into a home isn’t going to magically fix those issues, or cause the problems to resolve. While no home setup is perfect, stability is an absolute necessity for you to consider if hoping to settle down someday. Without this in mind, it might be that you’re rushing into settling without the proper care and consideration you should be applying to the decision making process.
With these simple tidbits of advice, settling down is sure to be a potential and worthwhile decision to make, at least informed by your rigorous self-examination. We wish you the best for the future no matter the choice you make.
Gracina Estrella – Cabanog is a Digital Marketing and Growth Strategist for Businesses. She is a mother of two and a wife to a tech geek. When she is offline she cooks, watch TV and hangs out with friends and family on the beach. Join her free Facebook Community of Social Media Marketing Learners, too! She is the founder of the startup SparkHiveMedia.com