Location has always been a huge factor in buying a home.

Can the kids walk to school?

And is the school any good?

A ladder leads up to a person’s dream home.

Is there public transportation nearby?

How far is it to the grocery store?

Should I buy a house now?

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Can I get to work quickly?

That busts the traditional notion of location wide open.

Home office space is now on many buyers wish lists.

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There arefour financial questionsyou should answer before buying a house.

But there are other considerations too.

Consider which of the following topics apply to you and how they impact your decision to purchase a home.

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Twenty years ago, a good location for a home was close to work.

The meaning of location, location, location has changed.

Did you know?

And how solid is your current employment status?

Does that play into your decision to buy a home?

How Much Space Do You Need?

Before the pandemic, your living space seemed adequate.

If you lived with someone else working from home, two work spaces were needed.

For years, there has been a move toward smaller, more efficient and environmentally friendly homes.

They may not all have been tiny houses but they were smaller.

In 2021, the National Association of Home Builders reported more interest in larger homes people want space.

So is your home going to be your office going forward?

(Lucky for buyers that interest rates are low.

It is unlucky for buyers that inventory is also low and sellers are reveling in higher prices.)

But, then, that consideration runs headlong into another consideration …

What About Climate Change?

For decades, being close to water, especially the coast, was desirable if not always attainable moneywise.

Areas prone to wildfires are also being considered more carefully.

Transportation is another issue.

When do it’s crucial that you make a decision on buying a home?

Such growth could lead to interest rate increases next year to protect against inflation.

Decisions, Decisions

Dont you hate it when your parents advice turns out to be correct?

You need apros and cons list.

You actually need more than one pros and cons list (location, space, cost, transportation).

And you need a list of priorities.

The decision to purchase a home is one of the biggest of your lifetime.

Due to the pandemic, climate concerns and remote working possibilities, it has become more complicated than ever.

Kent McDill is a veteran journalist who has specialized in personal finance topics since 2013.

He is a contributor to The Penny Hoarder.

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