If you’re debating giving up the hustle and bustle city life for the slower pace of the suburbs but can’t make up your mind, look no further. There are a few surefire ways to tell if you’re ready to make the move outward.
1. You spend more time in the suburbs than in the city.
If you have family or friends out in the suburbs, odds are you may be spending quite a bit of time out there – maybe even the majority of your time. You know what they say: If you can’t beat ‘em, join ‘em.
2. You’re craving more space.
A major perk of suburban living is wide open spaces and larger square-footage. If you’re feeling a little cramped in your apartment or townhouse, consider the bigger home you could live in for the same monthly housing cost out in the suburbs. (Hello home office and basement storage space!)
3. You’re ready to own your home.
Suburbs tend to offer more opportunities for homeownership than cities do. Plus, they also tend to offer more bang for your buck in terms of space.
The benefits (both financial and otherwise) of homeownership are countless but a few of the biggees are: building wealth with every housing payment each month, ability to have full creative control of the home, no random price increases, financial and physical stability, etc.
4. You have pets or kids who need room to run around.
Most cities don’t offer much yard space, let alone green space in general. This is a non-issue for some families, but for others it’s crucial. Just think of the joy that’ll come with taking your pup out right in your own back yard, instead of having to walk half a block to the nearest patch of green space.
5. You have money saved up for a down payment on a house.
More often than not, if you’re looking to move to the suburbs, your best bet will be purchasing a home. Many individuals and families put a down payment on their house, so it makes sense to have some extra money saved up.
6. You’re no longer taking full advantage of what your city has to offer.
The cost of living is higher in cities than it is in the ‘burbs. Are you soaking it up? Perhaps more importantly, do you still enjoy the perks your city offers? If you could live without them, you might consider making a move outward.
The bottom line is that where you live is a very personal decision and it shouldn’t be made lightly. If you’re considering making a move, we’re here to lend a helping hand every step of the way. Visit our Home Life page for more at-home resources or contact a mortgage professional in your area to learn more about your home financing options.