Have you ever made an impulse purchase and regretted it shortly after? If it’s just a DVD or a pair of jeans, returning it isn’t a problem. But with something more important like real estate, it can be difficult to get a refund, even with the receipt. That’s why it’s crucial to find out what’s really important to you and your family before you start your search for your new home.
Of course, with an item that impacts your life as significantly as real estate, there are a number of factors to consider. What is vital to one person may be an afterthought to another. But generally speaking, one of the first steps on the road to real estate success is selecting the style that best suits your needs. If you get that part right, your new home can be a source of joy and satisfaction instead of a trigger for buyer’s remorse.
remain detached
The starting point for most people tends to be a detached single-family home that stands alone with no connection to other properties. While a separated spouse is generally a bad thing, separate living quarters offers the most privacy and peace of mind of the different options. Then you’ll need to weigh the myriad of options for this type of home, which includes everything from a bungalow to two levels and multiple stories. But once you settle into your space, the rest will start to fall into place.
Select a semi-trailer
For a cheaper real estate option, you might consider a semi-detached unit. It might sound like a house with commitment issues, but it’s really just one that shares a common wall with a neighbor. It typically costs less than its separate counterpart, and is therefore one to consider if price is an issue. However, be aware that it will decrease your privacy and increase the noise factor, so be sure to check on the people next door before making a move. If they ignore your call because they’re busy with drum practice, move on.
Deciding on a duplex
This is similar to a semi-detached house in that it is two units with a common wall. The main difference with this style of real estate is that the two are above and below rather than next to each other. In addition to the cost savings compared to a single-family home, a selling point for the duplex is the ability to rent out the unit below to help pay your mortgage. However, consider this option carefully, as homeownership is not for everyone.
Another bonus is that the lower space can be used as a guest suite for your mother-in-law. What is the downside? The lower space can be used as a guest suite for your mother-in-law.
Going out on the town (home)
This is sometimes called terrace or row housing because it consists of many houses of a similar style joined together in a row. It’s an affordable, low-maintenance alternative with no extensive grass to mow or driveway to shovel. On the other hand, unless your unit is on one end, you’ll likely be sharing a wall with someone on either side of you. As long as it’s not overly sensitive to noise, that might not be a problem. But if so, being in the middle of a townhouse sandwich may not be an appetizing option.
Finding the best option in real estate is no small feat. At the same time, it’s exciting to explore different styles and imagine your family adapting to them. And with the help of a sympathetic real estate agent, you’re sure to make the right choice in the end.
But if it makes you feel better, save the receipt.