8 Signs You're Ready to Move into Your Forever Home

8 Signs You’re Ready to Move into Your Forever Home

In our younger years we experience a myriad of different housing situations, from living in our parents’ home, to shared student housing, to leaky basement apartments, to crammed condos. But with careful financial planning and a keen eye on the real estate market, there will come a time when you’re ready to finally move into that forever home. Here’s how you’ll know.

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Pretty Little Lairs

With starter homes, there are often trade-offs, such as sub-par living spaces for a lower price tag. If you’re tired of taking care of a house that does nothing for your aesthetic sensibilities, it might be time to step it up and find a space that truly reflects you.

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Size Matters

To qualify as a “forever home,” there must be enough space to accommodate all that life throws at you – at least for the next 20 years. More kids down the road, parents moving in, or a backyard that’s big enough for a future pool, the house and lot need to hold all of it. If you’re ready to take on more square footage (and its accompanying upkeep), jump on in.

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Go with the Cash Flow

To purchase a larger home with a bigger price tag, your income must be steady and reliable. Taking on a heftier mortgage means there’s less wiggle room in your budget for unforeseen expenses and money emergencies. If you can handle the financial pressure, start looking at listings.

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Will You Be My Neighbourhood?

If you’ve found a neighbourhood that suits all your wants and needs, putting down long-term roots should feel easy. Often, it’s indecision that keeps us from making big moves, but if this is your place, stake your claim now. This way, you’ll never have to say “goodbye” to your favourite yoga studio, coffee shop or pizza place.

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Elbow Grease

Purchasing a forever home means that it has to shift and change as your needs do. If you aren’t afraid to get your hands dirty, and even get a little excited about the prospect of multiple renovations, investing in a single property for life could be for you.

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Get Grounded

The whole point of a forever home is that you stay there for a good long while. If you’re planning on staying put and keeping your current job, you may be ready for a home as stable as you are.

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Long Game

Pulling together a down payment is the first main hurdle potential homebuyers have to face. If you’ve been diligently saving up and have amassed a sizable sum, you may be ready to put it toward a pricier forever home.

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Timing the Jump

Skipping the starter-home step and going straight in for that prized property takes guts. But it can also take outside pressure – if your desired neighbourhood’s prices are starting to climb, you might need to jump now. Look at projected population growth and get in while you still can.