There is a new trend among Dawson home buyers who are avoiding the smaller starter homes and jumping right to the home that they plan on staying in for years. It is easy to fall in love with a forever home. They are spacious, have more rooms to plan for, and are sometimes more updated than the smaller homes in the neighborhood. However, skipping a starter home could be good for some Dawson home buyers but what is the downfall for those that are not ready?
The main reason that people avoid a starter home is that they do not have the finances to fund their dream home. There are many Dawson buyers who are still living with roommates due to lack of funds. They may want to get out of this situation and into a starter home simply to be out on their own. Although living with roommates does sometimes help a first-time home buyer save more money and have a larger down payment when they set out to buy.
Those that do not rush to buy a Dawson house are more likely to have a larger down payment. This is often something they have been planning on for years. They have kept a careful budget to ensure they can afford to make a purchase.
Still, those dream homes can be a little out of price range for those still establishing careers. While down the road that mortgage is going to be a cakewalk, the years leading up to raises and promotions may be tough ones. Many refer to buying above their means as being house broke or house poor.
Life is not set in stone. Some people dream of having a large family and buy a five-bedroom Dawson house that they are ready to fill. As time passes they may not find a spouse or their spouse may not share the same dreams. Those rooms can easily go unused and the house itself is not necessary. Unfortunately, these larger homes do come with a higher price point on average.
Similarly, a person may think they are going to live alone for many years. They may buy a small one bedroom house to be content in until they are settled into their career. Some even dream of traveling and never settling down only to come home for a quick shower. These dreamers may find themselves with a partner they never knew they wanted or children that they did not originally plan for.
Planning for the unexpected is not an easy task. A Dawson home buyer that knows their life is not set in stone should reconsider buying a forever home. Even though their life may fit a property currently, that does not mean that in five years they will be in the same position.
Many people base their Dawson dream homes on the homes they grew up in. While this can sometimes work well, it can also be a bad fit for some first-time homeowners. Many people do not know what they like in a home until they have lived in multiple houses. Renting is a good way to learn what works well and what does not.
Some people prefer renting to homeownership. There is less stress and responsibility that comes with renting a house. The landlord is responsible for a majority of disastrous events which can save the renter money. However, some renters feel like they are throwing money away without getting anything in return. It comes down to what level of responsibility they want in their home.
Once a person moves into a certain area they get used to how the neighborhood functions, they find favorite stores and have favorite walking routes. They are used to the neighborhood, like the neighbors, and eventually, learn that they do not want to leave.
While there are many reasons a person should buy a starter home, there are just as many they should invest in their forever home. Each Dawson buyer has a personal decision to make when it comes to their next property. The best choice that they can make is to buy a house in a neighborhood that they could live in forever to give them the ability to buy a different house down the road if they choose.