My family and I have been planning on buying a house and hope to do so in the next few months. There are a lot of things to consider in buying a house,these are some of the more unconventional considerations I have. These may rage against what your broker will say, but then again, these are unconventional ideas for unconventional times.
I do not get too hung up on the school district.
My wife hates this, but I do not believe the public school system will be as prominent in the future. The flaws in the school system has been made more obvious with the surge of entrepreneurship-and people are realizing that school only teaches kids to be wage slaves. There is a massive growth in alternative schooling and public schools are being shut down all over the country.
If your home value is tied to the local school district, then your value goes down when they do. BUT your taxes will probably remain the same.
The city should have a good local, robust economy
We are not looking at distant cities, but just those around us. We scouted some ideal locations a few weeks back-however after checking out the city info, it turns out they have a couple of large universities in the area. This is not an issue by itself, but this may mean the local economy is tied to the college (probably is). My issue there is the future of the university as a thriving institution. Fore more info, Google “student loan bubble”.
A few other considerations are:
- is the area dependent on manufacturing jobs which might be automated?
- Are there large retail areas which are showing signs of decay?
- Are there signs of rezoning for apartment construction?
- How much land is still undeveloped?
The city should not have regulations about homesteading
A few cities in my area-including my current one-have restrictions to owning livestock in the backyard. If we are not purchasing a large lot, if we are staying in the suburbs, I at least need to be free to have some type of livestock. As an example, it turns out that most cities we looked at only allow 2 chickens.
This ties to my plans for gardening also. I plan to have a good sized, producing garden in my yard. I do not want any restrictions on rain catchment or water storage or where I can install a trellis. These things don’t sound important-until you realize that you cannot build them.
I do not want to be burdened by my neighbor’s preferences. I do not want to fund their authority to dictate to others or to myself. Do not talk to me about property values-I plan to address those from a higher vantage point that does not need the HOA as an excuse to exist.
Distance is not as big an issue
Travel distance is still an issue but it may notbe as big. With the predicted arrival of autonomous cars, it will be easier to commute a 20 mile distance to the office. Plus the fact that telecommuting will be a more common part of most jobs in the future. The 20 mile commute may even be a very pleasing experience, where one gets to escape from the humdrum tasks and focus on personal leisure-like writing or reading. You will of course still need to consider the time to commute, as that would be time away from the family. But, with robocars and telecommuting you have a lot of options compared to how things used to be.
So there you go, a short list of things I consider when we look for a house. These may sound contrary to most advice from real estate professionals-this is just my list. You will need to do some research on the concerns above. You can read more of it here but I really suggest doing your own research as new information comes up on these issues on almost a daily basis.
Do the research, form your opinions and discuss it with your family. What are your goals for the home in the next 5 years? In the next 10? To me, a few of the items above are critical so I need to be prepared to talk about it with my family.
Do you have other suggestions? Please help a guy out in finding that home he can really set roots in.