Stern Market Minute: Buying For The Future
Channel: The Stern Team | KW Salt Lake City Real Estate
Date: 2023-09-05

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When it comes to making big financial purchases, it's easy to just think about the present and what you need right now – but what about 5, 10, or even 20 years down the line? Future-proofing your purchases is a smart and savvy way to invest in your future. 

Don't Just Live in the Moment! Embrace the Future!
It's easy to get swept up in the present moment and forget about the future – but the truth is, the future is always coming, and investing in it now can help you avoid headaches and regrets later on down the line. This is especially true when it comes to big purchases, like buying a home. While it might feel overwhelming to think about what you'll need in 5, 10, or 20 years, doing so can help you make better decisions that will benefit you in the long run.

The Average American Stays for 13.4 Years – Prepping for Success!
According to the National Association of Realtors, the average American homeowner stays in their home for around 13.4 years. This means that the decisions you make when you buy a home can have long-lasting consequences. Future-proofing your purchases means taking this into account and making decisions that will benefit you not just now, but in the future as well. This might mean investing in a home in an up-and-coming neighborhood that has the potential for strong growth in the years to come, or choosing a home with features that will be in demand for years to come (like a big backyard or a home office).

Plan Ahead for Now & Next Life Chapter
When it comes to making big purchases, it's important to not just think about the next few months or years – but what comes after that as well. For example, if you're planning on starting a family in the next few years, it makes sense to invest in a home that has enough bedrooms and space for everyone. On the flip side, if you're an empty nester or planning to retire in the near future, you might want to invest in a smaller home that's easier to maintain. By thinking ahead and planning for your next life chapter, you can make smart, future-proofed purchases that will benefit you in the long run.

What's in Store for the Future?
Finally, it's important to stay up-to-date on what's happening in the world and how that might impact your big purchases. For example, climate change is a growing concern around the world, and investing in a home in an area that is prone to natural disasters might not be the best choice in the long run. Similarly, technology is changing at a lightning-fast pace, and investing in a home with outdated features could hurt you down the line. By staying informed and being proactive, you can make purchases that are not just smart now, but will remain smart for years to come.

Making big purchases can be intimidating – but by future-proofing your purchases, you can invest wisely and set yourself up for success. By thinking ahead and planning for the future, you can avoid headaches, regrets, and wasted money down the line.
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The decision to buy or sell a home shouldn’t be made lightly. Here at The Stern Team, we want to help make that decision easier by providing you with relevant, educational information about real estate in Salt Lake City, and the real estate market, right here on our YouTube channel. Whether you’re looking for helpful tips about buying a home, selling a home, or the latest market statistics, we’re here to bring that information together all in one place. We have a passion for helping homebuyers and home sellers achieve their goals and we’d love to talk to you about how we might help you achieve yours. If you have any real estate-related questions for us, don’t hesitate to reach out to us via phone or email today.

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