HOW DO YOU INTEND TO LIVE?
How do you want to live?
You are no longer happy with the current state of your home. So you are mulling the idea of moving out or remodeling your house. The following factors can help you put things in perspective.
Space. If the space is too small for all your growing needs and wants, or you simply love scales, consider moving out or renovating your house. Otherwise, downsize your home to save on maintenance costs.
Lot size. Let me depict two scenarios here. Living in a small house? You may want to be surrounded with people to easily detect an interloper in your house, not to mention a lower property tax. Living in a huge home? For sure, you will be away from the prying eyes of your neighbors. But you will be facing a higher property tax and dealing with more maintenance costs.
Sense of community. If you feel you are a stranger in your community, move out. If you want to drop by your neighbors to chat or host a party for everyone, stay and (maybe) renovate your home.
Maintenance. Maybe you desire a spacious and trendy home or to keep the charm of your ancient house, so you wouldn’t mind exhausting your bank account on its upkeep. On the other hand, you may want to keep it small so you won’t spend much money and time on maintenance.
Security. Who wants to live in a place that is too dangerous? No one, of course.
Independence or HOA. A homeowner association can be a great help in taking care of the landscaping and maintenance of your abode. HOAs also impose community rules everyone should follow, including trash disposal, renting out of property (if allowed), or usage of amenities.
Amenities. Ask yourself the following questions: Do you want to have your own pool or use the pool within the vicinity? Would you enjoy living in a community with gym, conference hall, or a golf course, or hate paying for those because you think you will never use it?
Parking. In a neighborhood, those who own small houses use their garage to store other items and park their cars on the street. Larger houses have bigger garage, protecting their vehicles and prolonging its life, as well as let visitors park in the driveway. Homeowners association has rules regarding street parking.
Convenience. Do you want to live near school, office, amenities, malls, or parks? Or, would you rather endure long commute or drive daily?
Location. Do you prefer to walk or drive to the nearest grocery store or enjoy the serenity of living farther from a commercial area? If you have younger children, school district is a key consideration. If you are considering moving, you want to transfer your kids to the best school you can afford.
Privacy. Privacy is another major consideration. You may be yearning for a single-family home sitting on a large lot, giving you plenty of space. Or, you no longer want to share walls, hallways, and common areas with neighbors in a condominium.
Noise. Do you prefer suburbia over city sounds? Are you tired of living close to the university, where frat parties last until the wee hours and students roam the streets late at night? Do traffic noises disrupt when you’re working in your home office?
Light. Are city lights keeping the place beaming at all times? Is your home dark because it is not getting sufficient natural light during the day?
Layout. Do you wish to have an open living room as you could watch TV or movie with your significant other or children while they are doing something else?
Modernization. Do you intend to follow the trend or the house is too outdated? Would a few renovations modernize the house and make it worth staying? Or an older home will do?
Can You Afford the Renovation Cost?
How Much Does a Home Remodeling Cost?
Ethical Investing: Looking Into Ethical Investments
Buying a Home: Everybody’s Goal
Digesting Financial Statements: System
An Introduction to Ethical Investing
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