When you’re looking to buy a new home, there are two choices:

  • Do you wait for your forever home, that special house you’ll stay in till the day you die?
  • Or do you buy the home that fits your needs now, knowing you can upgrade later?

The first is the home you’re purchasing for your future self and future needs. The second is the home you’re purchasing for your current needs, even if you don’t think it will be the house you’ll stay in forever. The choice boils down to whether or not you have the resources now to purchase your ultimate long-term dream home.

But there’s no reason you can’t have more than one dream home, since you have more than one dream … even in a single night. You could have a current dream home and also a future dream home, when you’re ready for it.

How to Choose Which Home to Buy Now

When you’re trying to figure out which home you should buy now, there are a few questions to ask yourself.

  1. What are your needs for a home now?
  2. What can you afford now, in terms of mortgage payments and other household expenses?
  3. What school do you want your kids to go to?
  4. Do you want flexibility for career opportunities?
  5. Where do you want to retire and spend the rest of your life?

When to Buy a Home Forever

If you know where you want to live for the rest of your life — it’s perfect for your career, your kids’ school needs, and your retirement — and you can afford the home that you can comfortably live in for many years, then go ahead and buy that forever dream home. You deserve it, and you’ll have peace of mind knowing you’re building equity and will never have to pack up and move again. After all, moving is one of the biggest stressors in life, so doing it less often will take a lot of stress away.

However, not everybody can afford to do that. And not everybody even wants to, because if you take this route, you need to make sure the neighborhood you have your eye on is safe, stable and something you can commit to long-term. If you’re not ready for that, there are still a lot of great options you can live in now, for the next few years or decades, which will serve your needs until you’re ready for something more.

When to Buy a Home for Now

If you can’t afford your ultimate forever home now, or you’re not ready to commit to a long-term purchase, buying a less expensive home will likely still serve your current needs. It will also allow you to save up a larger down payment and mortgage payments for the future.

If you want to live in a certain area for school zoning purposes, either now or later, you can make location decisions based on that. And you can move later, either after the kids finish school and you don’t need to be in a certain school zone anymore, or when it’s time for them to attend high school and you plan to move into the zone for a specific highly rated school. Or simply when you have enough money saved up to afford a larger down payment on a bigger or more expensive house that you want to stay in forever.

Who Can Help You Decide

A good real estate agent can help you figure out how much you can afford to buy, based on your current situation as well as your future needs. Things that should be part of the equation include your career, income, expenses, savings and debt. This will tell you what kind of down payment you can afford, and how much you can pay towards your mortgage each month.

Then look at what’s available in current home inventory, and how closely it fits your budget. Also consider your plans and your family’s plans for the next five years, 10 years and 20 years. If the needs are going to be pretty consistent, try looking for a more permanent solution. If plans are up in the air and you need flexibility, look for something that fits you now without worrying about the future.

There are no wrong answers when it comes to purchasing a home that fits your needs, whether we’re talking current or future needs. It all boils down to what makes most sense for you, in terms of lifestyle, location and finances.

Choose an Expert to Guide Your Journey

Las Vegas is a great place to call home, and it’s more than possible to find a good home in a great Las Vegas location, whether you’re looking for the perfect home today, or the ultimate dream home you can stay in forever. The beautiful master-planned communities give you privacy and luxury, or a great starter home, with easy access to world-class amenities.

For help finding your ideal dream home in paradise, look no further than community expert Dulcie Crawford, who was born and raised in Las Vegas and has deep native roots going back to the 1960s. Dulcie’s father, Joseph Crawford, was a Las Vegas lawyer during the mob years until the mid-1990s.

Dulcie also attended the prestigious Bishop Gorman College Preparatory High School, graduating in the Class of 1986. Her parents settled in a historic ranch community home built by Collins Brothers Development, same as the Flamingo Hotel. Dulcie has now renovated the legacy family ranch home and loves living in Central Las Vegas again, close to the pulse of the Las Vegas Strip.

Dulcie has over 24 years of local real estate expertise. She understands the city and its trends and opportunities more than anyone. Dulcie has watched Vegas rise and fall and rise again, and can help you pinpoint and locate the perfect home for you. To find out more about working with Dulcie and her award-winning team, or to get more information about the current housing market conditions, properties featured on this blog, or our Hot Market Listings, please contact Dulcie Crawford directly at (702) 505-2775.