Saturday, April 1, 2017

Justifying the Cost of an Expensive Home

luxury home
When you look for homes, it’s not uncommon to have a mental filter of homes that are above your budget. This is absolutely fine because no one wants to spend too much money on a home, but there will be times when you come across a home that is slightly above your budget and catches your attention unlike any other. You might love the architectural design, you might love the views from the windows, or perhaps the garden is what attracts you. Whatever it is, there will be a time when you have an inexplicable desire to buy a home that is out of your budget.

But then you’re pulled back into reality and realise that you set a budget for a reason. But there are times when you can actually justify the purchase of an expensive home, and here are just a couple of reasons why you should go back, re-do your budget, and allocate yourself a bit more in order to buy a better home.

It’s an investment for life

Many people buy a single home in their lives and that’s it. They spend their adult years in that home and then they finally retire and live in the exact same home. This means that you’re not buying something that will last a year, ten years, or even a hundred years. You’re buying a home that could potentially be the same building that your children will retire in. As such, it makes sense to invest in quality and with an expensive house in a highly sought after location, you’re going to get quality. Many people move up in the career ladder and as a result, rent different homes or even buy and sell homes until they reach the top. Why bother with that when you can simply invest in a more expensive home that you can afford? The cost is justified when you consider that a home can be an investment for life.

It will make you happy

Unless you go way over your limit and purchase a home that’s out of your budget, you’re going to be very happy living in wealthy island neighborhoods or expensive properties surrounded by celebrities. In fact, if you own the most expensive home in a neighbourhood then you’ll probably be seen as the wealthiest among your neighbours. This can have some wonderful psychological effects because the opposite, being surrounded by people who are more successful than you, can be overwhelming and you might feel like they talk down at you and make your life more frustrating to live.

Prepare for a large family

If you and your partner plan to have a lot of children, then you’re going to need a more expensive house in order to house them all. You don’t want to cram all of your children into a single room and you don’t want mornings to become a battle of who makes it to the bathroom first. Have multiple rooms for children, multiple bathrooms, and a large garden for them to play in. This can only be achieved by buying a more expensive house and stretching your budget a little.

No comments: