Recent research has revealed people are only averaging approximately 8 years living in a house before they move on to the next property purchase. Meaning, while our parents were happy to stay put in the one home until they could no longer care for it properly, the same cannot be said for us, and for our children. These “forever homes” are fast become a thing of the past. At what cost though will this trend affect ourselves and our community? It might be worthwhile asking yourself these questions first.
Are you throwing money away?
Buying a house is an expensive exercise. Not only are you signing up for a huge debt, but purchasing a house also brings with it a slew of added costs. When you add up the amounts you spend on your legal, real estate and brokerage fees, you’ve burned through some serious cash. And let’s not forget the extra donation you are making to the government, via Stamp Duty. These costs could have added up to an extended exotic holiday at a destination of your choice, had you chosen to remain in your home.
What is the cost to your community?
When you farewell your home you are also waving goodbye to a community you’ve become a part of. If you’ve been volunteering in some capacity in your local neighbourhood, there is going to be a gaping hole which will need to be filled. And let’s not forget about friendships – moving away so often will make it difficult to make meaningful, long lasting connections.
Are you bringing unnecessary stress into your life?
Moving house has long been considered one of life’s most major stressful events. Why then would you put yourself through this chaotic process more often than necessary? Is the excitement of having a new perfect place to call home worth the huge headache that comes with attending all those Saturday Open Houses, liaising with banks, lawyers and real estate agents, not to mention the actual process of the move! Think wisely about whether it is worth inviting this extra pressure into your world.
Have you considered the impact on your children?
Yes, you might be bored of your current abode and feel it no longer meets your needs. But take the time to consider your children – moving house can impact them in a large way. Poor sleep, acting out, inability to concentrate on tasks are just some of the behaviours that can come with the news they are about to leave behind all they hold familiar Be sure to thoroughly research your new destination, such as what playgrounds are in located closeby, what ratio of the population includes families, or what sports are popular in the area. Websites such as Microburbs can prove very helpful for uncovering this type of information.
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