Even though this year started quite on a slow pace, when the spring arrived I noticed a very interesting thing going on. Since everybody was talking about a new recession coming because of CoronaVirus, but I was very surprised to see and hear, about a crazy rush to buy and move, in something “bigger” and “better”.
This phenomenon I think occurred because since CoronaVirus, so many people transformed their homes into an office space too, so imagine 2 working parents from home, which might need 2 separate rooms to do that. Besides that, depending on hay kids they have, they also need to have designated desk space, since most of the kids did school remotely from home.
So that’s how the space need arrived, and so the hunt for buying new property. Because of that, properties sold like hotcakes this Spring, and the rush is still on.
Now, even though working from home now seems like a luxury to many people, it has its perks I must say but also cons. Even though you get comfortable in your pajamas with a coffee next to your computer and skip the traffic, you might not being compensated for using your desk, computer, home. Also, detaching work from home and relaxing can also be an issue, especially when you want to slip in some extra work, which sometimes can be never-ending.
Your routine will definitely change in a more relaxed one, and you might even notice being more productive but less social.
Also, buying a house versus a townhouse or an apartment can have a big impact too.
Check out what you afford first, because that can have a huge impact on your life.
If you want to buy a house, keep in mind of all the work you have to put in it to maintain it (home improvements/repairs, cut grass, snow removal, garden/lawn maintenance, etc) and also how much tax you want to pay.
If you want to buy a townhouse, you don’t have to maintain surrounding areas since usually an association will do that for you, but then you don’t really have a back yard. Also sharing a wall with a noisy family won’t be pretty.
When buying an apartment, you could have very noisy neighbors that might disrupt your work/life, but you could also have some other perks included, such as a pool and a tennis court.
Prices do vary by locations, schools and cultural areas, so think ahead, how long a drive you want to have to buy groceries or go to the movies or a theatre.
Cheaper doesn’t always mean better, but in the end, money buy extra time and comfort.
1 in 7 families pay half or more of their income on housing and the inflation is at a fast pace. Owning vs. renting is a dream to many people, so you can take a stand with Habitat for Humanity an advocate for policies to improve housing affordability.