Setting Real Estate Goals
Have you thought about real estate in terms of goals? Do you have a time in mind to buy or sell a home or investment property, or are you just waiting for a life situation or mood to strike?
Instead of only relying on external circumstances like job changes, take a proactive approach to your real estate plans. This could include not only plans to buy/sell a primary residence, but any thoughts of owning additional real estate in the future.
Short Term Real Estate Goals
Do you plan to move in the near future for a job-based location change, upsizing, down-sizing, climate-based location change? Maybe you’ve recently transitioned to working from home and suddenly can move wherever you want?
Or maybe you aren’t planning to move at all, but you have goals to take care of the property you do own? What steps will you take this year to maintain or increase the enjoyment/value of your current home?
Long-Term Real Estate Goals
Even if you plan to stay put for a while, you should be evaluating your long-term real estate goals. Do you have plans or dreams to own additional property, either for vacation, long-term or short-term rentals? Do you hope retire to a specific location? Have you thought about what kind of real estate portfolio you’d like to develop over the upcoming years, decades, or at retirement? Setting clear goals (even if they seem to be in a far-off future) will help you determine what steps to take to acquire, accomplish, and arrive at where you want to be.
How to Reach Your Real Estate Goals
Some of your short-term real estate goals will be easy to work toward on your own. For instance, if you know you might buy/sell in the next year or 2, you’ll want to get your current property ready, and get your ducks in a row for a purchase.
While you are setting goals, and once you are ready to move forward, you’ll need a trusted advisor — contact us for help thinking through options, referrals to financial advisors, and to start making your dreams a reality!
