While buying a home with a mortgage plan with low interest rates in the Long Island real estate market could be a plus to your financial condition, it is not a bad idea to buy a home that can improve your career and financial health. Here are some factors that you should consider before purchasing your piece of the American Dream.
A Home near work vs. a house in the suburbs
Owning a home in the suburbs has definitely become a familiar icon in American life, but you should seriously consider factors such as proximity to your workplace. While it may be true that a property in the suburbs might be cheaper, it might take you a longer time to commute. Consider time as an important component of your life. It might be tiring to live in a home too far away from your work.
Quality vs. Size
Buying a big home with a floor area of 3,000 sq. ft. in the Long Island real estate market looks nice, but a house which measures two-thirds of that might be better. A smaller built but better made home will likely last longer and will be more satisfying to its owner.
Also, buy a home that is well planned. A house with hallways that provide connection between rooms is a good option, but don’t forget to choose one that still provides privacy. If you got kids, a home with this feature is important.
Also, do not forget to check the quality of the materials in the property. Make sure that the property is well equipped against cyclones and storms.
Fancy houses vs. energy efficient homes
Big houses typically have double height entry ways, a symbol of wealth. But financially speaking, such homes may not be energy efficient. Homes with this feature would demand more resources and energy to heat and cool, something that isn’t financially prudent. Buy a home that is simpler and equipped with energy efficient features. Doing so could decrease your utility bills significantly.
Utility vs. Luxury
A fancy home fitted with luxurious appliances such as a Jacuzzi and a six burner stove looks nice, but it may not necessarily fit well into your every day routine. Such luxurious appliances do look nice. But if you can’t use them in your everyday routine, there is no reason to have them. Opt instead for a home with lots of storage. Buy a home with a pantry and a walk in closet. That will help you in your daily chores and tasks without thinking of where to place the basic things you use.
Being pragmatic and practical with the home you buy could make your life less stressful. Rather than choose a home in the Long Island real estate market that is fancy and luxurious, opt for a home that will help you in your career and everyday living.