Your home and where you vacation aren’t just about a place, but it’s really about your personal quality of life. There are times to evaluate, and re-evaluate, where you live and how you want to live for your future.
The spread of Covid-19 with stay-at-home orders throughout the country has made families re-evaluate careers and residences, especially small business owners like salons and gym owners. A gym owner in Los Angeles County who lived near the San Gabriel Mountains uprooted his family and moved to Montana because he had an offer to operate in a state that was more open and where housing prices were less.
Re-evaluating where to live and doing something like buying land is a fact of life and a process that occurs as we move from the early stages of our career and family life into mid-career or later.
Here’s an easy-to-follow guide on helping you decide to stay put or pull up stakes and seek out a different residence.
Why are you thinking about moving?
Your personal reason for possibly moving is a good starting point for laying out any lifestyle strategy.
What is your Why—your ultimate reason? Is it personal restlessness, like having been in one place for a long time, or is a move completely necessary due to a job change?
Personal restlessness doesn’t mean you need to pack up and head off to a different town. Try these ideas:
· Explore areas in your region or state where you’ve never been before
· Start a new hobby or dust off an old one
· Take an online course to earn a certificate in a new field or for your personal interests. Check www.edx.org for free courses on topics ranging from blockchain technology to art and more
· Get active, and then come back and see if moving is still nagging at you
If so, then check out alternatives to where you live now and download a free guide on buying land, noted at the end of this post.
Consider your personality
Are you the adventurous sort, or do you like your life stable and predictable? Your personality can say a lot about where you should live.
If you have a pioneering or trail-blazing spirit, then consider the open spaces or smaller country towns.
Not all moves are made from large cities to smaller areas. You may want to jump into an urban setting where public transportation is readily accessible and grocery stores are within blocks from your home or condo.
Homestead in a city like Detroit and be part of revitalization efforts, especially if you’re driven by a sense of mission or purpose.
What’s important to you?
A husband and wife who lived in the D.C. metro area for more than 20 years sold their home and bought house with several acres in the western slopes of the Sierra Nevada. The wife was originally from Southern California while the husband was from New York.
Their children found jobs in California and the couple wanted a smaller town life. They were a four-hour drive from their kids in a home near the mountains and a local church that was active.
What’s your list of what’s important to you? How has this list changed or stayed the same?
· Family and friends
· Affordable home ownership
· Career prospects
· Quality medical care
· Cultural events
· Social groups like churches
Weigh your debt versus equity position
The more equity you currently own, and the less debt you have, then the more freedom you ultimately have.
If you do have high short-term debt in credit cards then get aggressive in knocking down the credit card debt. If you bought a property recently and have a high loan to value ratio, then selling may allow you to move to a location where the cost of living is less and buy a home like a modular home. The benefit is you may end up with low or practically no payments.
Know that you have choices
What’s most important is to know that you have choices in where you choose to live.
Get a better understanding of those choices by downloading a free guide from Cantu Land Plus: Your Guide to Buying Land: The Heart and Soul of America
Land is the foundation to residential and commercial real estate. Owning land gives us a sense of freedom and well-being. You may choose to live in an urban setting but want a quiet place to retreat to for a few weeks every year.
This guide lays out the reasons for buying land and the basics for selling your property when it’s time.
It also contains useful resources so you can gather data on counties of interest.
You can also call Sandra Cantu for a brief consultation: 813.690.4979.
Sandra is a real estate professional and investor who takes a personal interest in the well-being of every client. She understands the significance of home ownership and how moving from one place to another is a decision that’s important for your well-being.
Consider her a trusted advisor as you evaluate your current life stage and your reasons for potentially using land to relocate, enjoy a new vacation spot, or as a future asset.