Financial Literacy for Everyone

Play Road Trip to Savings

Steer your way to financial stability.

The Right Home

When you're deciding what type of home is right for you, you not only have to think about now, you must think about your future. Will your family be growing? Are you going to need an office at home? Are you going to be able to keep up with the maintenance? You don't want to buy a home and then find you have outgrown it three years later.

Home Size Does Matter

The drawbacks to a small house are obvious – not enough space. But there are drawbacks to a large home as well. Upkeep is considerably more work with a large home. The spaciousness that once brought you such happiness may lead to the frustration of never-ending cleaning and maintenance. Consider how much space you need, how many rooms you need and how much furniture you want to have. Limit your home size to meet these requirements unless you're willing to put in a lot of time or hire maintenance and cleaning professionals.

Suburb

Urban, suburban, rural, young, old, high-traffic, low-traffic. You have many different options when it comes to choosing a neighbourhood. But here are some variables to think about.

  • How long are you willing to commute? This will give you a geographical boundary to look within.
  • Do you have children? If so, carefully investigate the school system your children will be attending. See what learning opportunities are available to them. Even if you don't have kids or your children attend a private school, the quality of the schools in your community will have an impact on the resale value of your home.
  • Do you like high-energy environments or peace and quiet? When some people go home, they want to leave the world behind and relax in the peace and quiet of their personal retreat. Others would be bored to death by that environment and need more interaction and energy.
  • What aspects of a community are important to you? Picture the perfect suburb. Ask yourself what makes it perfect? Then seek that out.

When you're looking at homes, try to get a feel for the neighbourhood to see if it's right for you. Talk to the neighbours and ask them what it's like. Be nosy. After all, you might live there for quite some time.