Your Lifestyle Affects Your Bottom Line

Many homeowners have dreams on moving into their dream home.  These choices are driven by our desires, many times not lifestyle needs.  Having a larger home normally means having larger lot, more bedrooms, and larger area for entertainment, etc.  When making this type of move, there is a price tag which includes more work and/or dollars.  For example, if you purchase a larger lot closer to the center of large cities, you will probably incur larger down payment and monthly mortgage payment.  Normally, moving out of town, or further away from the center of the city you will lower your down payment and monthly mortgage payment, but will increase time and car expenses when commuting to the epicenter of the city.  In addition, if you purchase a larger lot this will create greater upkeep, which includes more landscaping, mowing the yard, possibility having more and larger equipment.  Even in a wooded lot that lacks landscaping, you will incur more expense to maintained trees on your lot.  Finally, one of the main reasons why most people move up is to get move space.  More space means, there will be more expense.  If you can financially afford and need the space for your growing family, then I recommend you go for it, but be sure you understand financial and upkeep responsibilities before you make the move.