Every buyer is facing their own unique set of circumstances when they decide to purchase real estate. First-time home buyers are often looking for that perfect starter home—a place that they can afford but where they can also begin to build their wealth. Growing families are looking for a place where they can make memories that will also be practical, convenient and comfortable. Established couples and retirees often want to downsize into a place that feels right, a place where they can begin to enjoy an exciting new stage of life.
All of these buyers—and many other types of buyers—are faced with the same question at this point in the process: Should they purchase a condo or a single-family home?
Choosing a Single-Family Home
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When it comes time to decide whether it is time to buy a home or continue renting, there are a few things that need to be considered. Some components of the decision rely completely on finances. However, there are some other things that should be taken into account before diving into one option or the other. One thing that should be left out of the equation, however, are emotions. Choosing to buy or rent a home based on emotions alone can be a big mistake. Instead consider these other components to help you decide.