The Phases of Home Ownership

Homeownership is an immensely exciting process and lifetime achievement. Whether you live in one or two houses during your life or bounce around to five or six, you are likely to experience the following stages of homeownership. We want to help our first-time buyers know what to experience in each phase.

Buying Your First Home

You have packed up your old place, the moving boxes are ready and the sold sign is in front of the house. It is time to start unpacking in your new home and really get to know the place. If you are moving into a new home, chances are you are upgrading from renting an apartment or condo. It may feel like you need to fill all the extra space right away, but it is helpful to really live in the space and get to know it before you rush out to buy new things. The same rule applies for making major renovations, obviously there will be things that need done pretty quickly after you move in. Wait until you have lived in the space for a little bit before knocking down walls or taking on major renovations.

A House Becomes a Home

The unpacking phase may take a couple months or years for some rooms but once you get all that done, start decorating and getting to know the neighborhood, your house starts to feel like a home. At this point, you know where everything goes, have your local hangouts and your favorite spots and you have created memories thus far. You have grown to know and love the unique features of your home.

Project Time

This is often when people take advantage of the equity you have gained as a homeowner. If you purchased an older home, this might be time to take on replacing major systems such as your furnace, roof, air conditioning unit, or anything that will increase the value of the home in case you need to sell. If you have hated your kitchens for years and it is adding difficulty to your everyday life, this is a time to redo it. You have been there long enough by now to realize what you like about it and what you do not. So do something about it!

On to the Next

Many situations in life can cause you to move. Whether it may be getting a new job, growing your family, downsizing once your kids move out, or moving further from the city to get more bang for your buck and vice versa. Moving out of your homes you have been in for years or decades it definitely an emotional rollercoaster, you are excited about the new chapter but leaving behind an important one. If you are looking to make the next step in life, give us a call about starting the loan process whenever you feel ready 888-818-1850.