You’ve been working hard, saving up and looking for a home that is just right. But if you find yourself in your 40s before finally owning one, homes for sale in Fairfax, can be an exciting time as there are many things to consider when making such a big investment!
In order not get overwhelmed or discouraged with all those decisions—we’ve put together 5 major points every buyer should know about buying their first house at any age below 50:
What’s driving you to buy now?
The most important considerations regardless of home buyer age are personal, says Hale. “Ask yourself if you can commit to being in a new home for the three to seven years that it will take to make sure its financially advantageous.” Once those two conditions have been met (of not only owning but also buying) figure out what kind of place and neighborhood best suits your lifestyle goals – then go find it!
Consider your family and career
“In your 40s, you’ve settled into the life and routine of a lifetime. But there are still some adjustments to make before planning for retirement becomes reality.”
“Trevor Halpern says that in these powerful years where we’re still young enough to strive towards our dreams but old enough keep them grounded,” said Mr. North from Phoenix Arizona’s most sought-after real estate company: “40 something homeowners should be mindful about children or jobs which can replace much time spent looking at homes.”
The NAR says that the most common reason for buying a new home among Gen Xers is because of marriage, divorce or having children. So if you want to find out more about your options before going through all those steps just wait until we tell ya! The good news: with offices opening up where people can work from home one day per week it may be possible that by choosing somewhere near schools and jobs as well as being able live comfortably without long commutes every single thing might line up right?
Upsizing your living space
As you grow and new opportunities arise, your 40s may be a good time for an investment in real estate. With the right market conditions it’s possible to buy that larger home without having sold off any equity from retirement savings or paying off student loans yet!
While markets are volatile at best – make sure not only does this make financial sense but also fits well within lifestyle changes like starting careers outside of work during daytime hours due family priorities shifting over these last few years before kids go away forever…or discover what they love doing after all!.
Homebuyers aged 40 to 54 have been buying larger homes and the most expensive ones recently, with prices hovering at a median of $305 thousand. So when looking for your forever home considers what you want: extra space? Multiple living areas within one house (such as an attic)? More bedrooms that can accommodate all members in your family; practicality over hopeful wants- car advises focusing on this factor too! “It’s important not only look into how big or luxurious they need but also if there will be enough room left over after installing furniture,” he says .
Home buyers between ages thirty five through fifty four purchased some quite large properties averaging around 2k sq. ft. each which comes second
Future financial obligations
Every decade, it’s a good idea to reassess how much house you need and the cost of living. While your 20s may have been full of opportunity with job offers coming in faster than they could be accepted—and all those expenses were just taking off! But now as we hit 40…well let me tell yeah: It can get really complicated fast so make sure that when purchasing property for yourself or loved ones (especially if their income isn’t stable yet), there won’t always only one option open-mindedly available at any given time which means planning ahead financially too because life changes occur unexpectedly without fault.
“Buy an affordable home in your 40s? You bet! Have money set aside for retirement or are you really close to it now that the kids have flown the coop?”
A great place to start is with a $2,000-$3K down payment on today’s real estate market. These homes will seem like total steal by then too — just wait and see…