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Phases of Homeownership

4 Phases of Homeownership

Regardless of how long you’ve lived in a place you’ll more than likely go through four stages of homeownership.   

Phase 1: Unpacking and settling in 

After the anticipation and long process of buying a home, you’re officially moved in! You’re probably thinking of all different way of how to decorate your home and deciding where things will go.

Unpacking and settling in is the first phase of homeownership. According to Windermere Real Estate, they say not to make any major changes to your home right after moving in. When I say major changes, I mean remodeling or reconstruction of the home like knocking down walls. It’s better to get all your furniture in and get settled for at least a year before doing so. 

Phase 2: Home at last!

Phase two can take up to a few months of even a few years! But this is when your home actually feels like “home.” You feel relaxed and all settled in and start to enjoy the place you live in.

This phase is when you’ve probably already got all your decorations and furniture placed where they need to be. As well as knowledge of local hangouts, grocery stores, and other convenient stores by you. Even met a few neighbors, and more than likely spent the holidays in your home.

Phase 3: Experiment

After living in your home for a few years and maybe upgrading/renovating your home, if you didn’t already know, but equity has been building up throughout those years. Did you think that the only way to take advantage of the equity you’ve gained was to sell it? Well, you’re wrong.

Depending on how old your home is it may take time to do anything as far as taking advantage of your equity that was built. With an older home you may need to update major home appliances, windows, carpet, roof, A/C units, etc. 

Phase 4: On to the next one 

There’s always a reason as to what causes people to move, whether it’s a new job, building a family, or downsizing to a smaller home because the kids are old enough to move out. Or also if you live in the middle of the city, after awhile people move away from the city and more in the suburbs, although the commute might be a little longer but you’ll get more for your money! This is the last phase of homeownership, moving onto something bigger…or even smaller, but better!

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