5. A Suitable House
We’ve always said downsizing is the way to go in order to save money in the long run, and we still wholeheartedly believe that. But downsizing isn’t the same as buying cheap. In fact, buying cheap could set you back more than you’d initially expect.
First of all, you could end up with a house that needs more work than you’re prepared to put into it. Or, if you’re moving to a new apartment, imagine the nightmare of having paper-thin walls that you can’t fix?
A lot of families opt for older, cheap houses without considering their environment. Maybe you could deal with traffic, higher crime rates or poor infrastructure but when it’s time to sell years down the line? That’s when you’ll be faced with the loss.
We think you should buy something more affordable, yes, by avoiding luxury features. But when it comes to the bones of your new place? Pay a little bit extra for peace of mind! After all, you’ll be spending the next couple of years there.