Welcome Back to Nuanced Beauty!
WHEN do I buy a home? We discuss our several years of wanting to buy but feeling like we were JUST behind the market in being able to afford a home in Seattle. We also felt like everything was too expensive, coming from the midwest, and I was seriously waiting for the prices to drop because of the market crash back in 2008. So I took some comfort in wrapping my mind around the fact that we rented some wonderful apartments, right where we wanted to be, they served our needs very well, and we didn't have to pay for maintenance. We watched the costs continue to rise, and we finally made the plunge right before we welcomed our firstborn. It was either buy a home or rent somewhere else because our townhome layout and the luxury finishes were not going to cut having a baby in it. We also wrestled through the financial advice pressures on optimal down payments and type of loan to get, and we ultimately share some decisions we made that could be considered not the smartest, but from our perspective and purposes, it made sense, and we carried on.
Next we dive into WHERE to buy a home. We explore how much schools can play into the decision. We also chat about not having the nicest home on the block, but how that didn't really help us within the Seattle neighborhoods, because there isn't a clear sense of zoning. It is very neighborhood-centric, but there could be a crumby abandoned house next to a million dollar new-build.
In summary, when it comes to when and where to buy a home, there's plenty of advice from the experts that is typically focused on how to optimize home-buying for financial returns. Listen in to that advice, weigh out your thoughts and needs, and then make a decision.
Happy shopping if you just so happen to be in the home-buying market at this very moment.
Book Recommendation:
The Two Income Trap - Why middle class parents are (still) going broke - by Elizabeth Warren
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