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Most homebuyers have a “dream house” that includes everything they want…whether it’s a new kitchen, open floor plan, main floor master suite, outside kitchen…or all that and more.
So, how can you buy your dream house, whether you’re in your 40’s, 50’s, or 60’s?
The answer might be as simple as just deciding to do it. People generally cannot afford their dream house in their 20’s and 30’s, By the time they are in their 40’s and 50’s, they’ve got the money.
Newer, Smaller, Better
Some buyers move out of a costly or large home into a dream home that better fits their needs in terms of design, finished, and amenities. The new home might offer an updated kitchen, open floor plan, main level master suite, new flooring…all with a bit less square footage.
Saying “NO” to Remodeling
The alternative to buying your dream home is trying to remodel your current house to be what you really want. This doesn’t appeal to many current homeowners. Sometimes, a 20 year old home just starts to “feel old”. Rather than renovating and upgrading it, a lot of people take the easier route and buy something new.
The remodeling industry studies have shown that very few remodeling projects recoup their full value at the time of resale. Most homeowners take a loss on their improvements when they sell.
The Big Decision
Despite the allure of their dream home, some buyers hesitate because they’re not ready to make the transition or only one spouse is ready. Once an unwilling partner can emotionally detach from the current home, a dream home can be in their future.
