Zach and I bought our first house during the big housing crash of 08′. During 08′ a lot of people were not buying homes in fear of housing prices continuing to plummet and with major lack of trust in the housing industry. Because we came out of college at one of the worst economic downturns our country has ever seen, when we bought our first house, and subsequent houses, we had this question in mind “Could we live here forever?”
History has shown time and time again that after a housing crash, with enough time, the housing market will recover. This gave us confidence that buying would be ok. But of course, like others, we were concerned that we hadn’t seen the worst of it. So, each time we purchased a house, even though we weren’t planning on any of these houses being our “forever home” we wanted to make sure that if Zach lost his job or the market worsened, we would be able to stay in the house as long as needed.
I honestly believe that to this day we could make each of our houses work, even with a family of 6. The smallest house we’ve had was just under 1200sf which is larger than the average home in Hong Kong, China, UK, Japan and Spain. Every time we purchased, I would walk through the rooms and picture what it would look like if we stayed long term. What if I have another baby, and it’s not one, but two, or three! Twins, Triplets? Yep, I still felt confident I could pull it off. Just doing this exercise helped me feel at ease that we weren’t making a mistake. Or that we wouldn’t wish later on that we had held out for a larger home.
When buying a home, even if you plan to only live there for a year or two, try this exercise and ask yourself “Can I live here forever?”. It can help ease the home buying anxiety, and leave you feeling confident that you can make anything work. Because let’s face it, in hard times, I think each and every one of us would just be grateful to have a home.