Events in Life that Influence Real Estate

Although you can buy, sell, or invest in a property at any stage of your life, for many, this decision is usually dependent or tied to something larger or a major life event that influences the family dynamics (i.e. a first home for a newly graduate or a  married couple, a bigger home for a growing family, or even a smaller home for downsizers).

In addition, some of the other most significant factors that affect one’s decision in terms of real estate financing and investment are health issues and employment circumstances. And within these categories, there are main events that need to be considered when buying, selling, or investing in real estate.

Having Children

It is possible that you have been living in your current starter home for some time now, and you suddenly decide to add children into your household. For this kind of situation, even if you’re already comfortable in your home, factors including space, school proximity and distance to work or family members can still influence change. This is because having children means running out of room and space for playing, studying, and even storing stuff.

If you’re a parent and this is where your life is currently at, upsizing your house may be the best option for you. So, it’s important that you seek an understanding real estate agent who can accommodate your needs and make the selling and buying process as smooth as possible.

Children Moving Out

In contrast to the above point: If you’re currently at the stage where you now have older children who may be ready to move out, then downsizing may be an option, especially if you find yourself living in a home with too much space and not enough people to occupy it.

While it can be a difficult decision to make as it often means leaving behind many years of memories and experiences, it’s still  important to look at its benefits:

• reduction of workload and responsibilities
• increase in your cash flow
• lower utility bills
• easier maintenance

Divorce

If you’re one who relates to this significant life-changing event, we are certain you are or have been in a tough situation. With regards to real estate planning, divorce can cause a huge shift in a person’s life; for instance, some people may choose to sell their property and split the earnings. This can be a very difficult process for all involved considering that possessions often make up a big part of disagreements – but it doesn’t have to be like that.


Here, at Reval, the selling process when going through divorce is something that we greatly understand. You can expect that we can help you through respectful, clear, and unbiased communication with both parties. From there, we will understand the couple’s needs and make the process as painless as possible.

Change in Career

A career change is also one of the major life events that can happen to your life. And depending on the new career, it will require you to make a decision in terms of buying or selling, downsizing, renting, or moving in with your relatives to accommodate this lifestyle change.


There are also circumstances where a career change will require you to relocate or retire much earlier, which may affect your living conditions. For others who may want to venture into entrepreneurship, they will also need a reassessment of their current living and financial conditions. In this case, some may choose to leverage their home equity or look at investment options to gain some initial business capital.

First Home Buyer

Regardless whether you are single, in a relationship, a professional, a school leaver, or you already have a family of your own, purchasing a new home is certainly a significant milestone that can happen to you at any age and stage of life. However, while exciting, purchasing your first home comes with anxiety, stress and lots of ups and downs. With that said, you will need a real estate agent who is knowledgeable about the first home buying process and all the processes and legalities that come along with it. These include:

• your financial situation and budget
• down payment cost
• the type and style of house you want
• the suburbs you like, dislike, and can afford
• proximity to your job and travel time
• wants (e.g. a backyard for pets and/or future children
• the length of time you plan on living in your first home
• the pre-contract and pre-settlement processes

Retirement

Just like the other major event in your life, retirement may also demand a large impact in your living arrangements. For example, a change in finances may influence you to downsize to a smaller house or apartment so you can reduce your spending on utilities and home maintenance. You may also want a lifestyle change and choose to sell your existing home and move into a self-care retirement village, or you may also want to take this opportunity to move into your dream home. Really, if you are a retiree, it will all boil down to what you have been planning to do when you retire since you first bought your home.

Buying an Investment Property

If you’re looking at achieving financial freedom, this could be a great option for you. In fact, there are many home buyers who prioritize an investment property in order to maximise their financial return, and choose what’s best for their dream home.


If you are one of these, or you already own a home or apartment to rent, Reval can give you advice on the important steps to take when investing, including reviewing your cash flow and budget, getting pre-approval for a home loan, and engaging with a property manager to assist you in overseeing your investment property.

Recession

A lot of uncertainties, such as the pandemic, sudden loss of jobs, or recession, can force everyone to step back and reassess their finances and investments. Some of us are even forced to make some very desperate decisions. From selling a home and downsizing, to opting to rent instead of entering homeownership, a recession might mean having to change your living arrangements to accommodate this economic shift.

Life events like these are tough but with several years of experience, Reval is here to help when you need to buy or sell regardless of the circumstance you are currently in.