You may be sure of the kind of home you want now, but think about the future as you begin your search for a new or a different home. Unless you are willing to move every few years, you should try to anticipate changes that lie ahead in your future. Are you newlyweds who will be anticipating starting a family? Are you planning to retire soon? Are your children teenagers who are on the move more than they are home? Have your children left home and you are faced with the empty-nest syndrome? Do you have toddlers or elementary age children? Are you retired? Do you have the time and the money to buy a “fixer upper”? How much can you afford relative to your budget? Anticipating the next few years in light of these different stages of life is necessary in order to decide what sort of home is best for you to consider buying.

Every place of residence will require a compromise from you. Before you start looking, accept that you will likely give up something you now consider important in order to gain something that will become important. These might include certain landscaping, a swimming pool, an open fireplace, a guest room, a two-car garage, an office, a patio and deck, and so on.

When deciding on a home—whether a house, a condo, an apartment, or a mobile home—the traffic flow should be a primary consideration. With small children you will want your bedroom to be near the children. With older teens you may want to be in another part of the house. How does the traffic flow when you have an arm full of grocery bags? Is there counter space near the refrigerator? Does the front door open directly into the living room allowing cold air to come directly in? Is there a foyer to help shield icy temperatures? Do closets or a bathroom separate the master bedroom from the other rooms? Can furniture be safely carried up to second story bedrooms or office? Do you have to go through the living room to reach other areas of the house? Is there enough storage space?

A new home
If you are buying a new home, make sure that you secure a builder's warranty from your building contractor that covers any faults that could appear during the first year of your occupancy. The possibility of negotiating a price with a builder is generally limited because the price of the house usually is based on the building cost. However, extras and add-ons usually can be negotiated. Nevertheless, you need to expect that anytime and every time you change your mind with regard to construction or extras, it will be much more expensive than you anticipated. All promises, cost and payment arrangements, and construction time frame for all construction including extras and add-ons need to be in writing. If possible, also have your attorney arrange for a portion (10 percent of purchase price is standard) of the purchase price to be held in escrow, pending the builder's attention to small matters or faults that can come up during the first three to six months of occupancy.

Before you agree to buy a new house, make sure you first check with the county or city tax assessor's office and find out what your taxes will be, whether there are any assessments that you will be paying, or whether any future assessments will be levied on the property.

Owning an apartment
In areas where land is at a premium or for empty nesters and young professionals, cooperatives, townhouses, and condominium apartments may be an attractive alternative. Condos combine the advantages of home owning with the convenience of apartment living. The Internal Revenue Service (IRS) treats co-ops and condos exactly like a single-family dwelling.

Cooperatives. The owner of a cooperative does not own real estate. Rather, the buyer receives shares in a corporation that owns the entire building and a proprietary lease for the particular apartment that was bought. These shares and the lease are considered personal property, and the IRS will treat the mortgage like a home mortgage. The monthly payment includes a share of taxes paid by the cooperative on the entire building and a share of the cooperative's payment on the one large mortgage on the entire building.

Condominiums. The buyer of a condominium receives a deed and owns real estate. The buyer receives clear title of the interior of the apartment unit and a percentage of the commons—the land, staircases, swimming pool, driveways, tennis courts, sidewalks, lawns, and so on. Because the apartment is real estate, the buyer can place a mortgage on the property and will receive an individual tax bill for the unit. In addition monthly fees are generally levied to pay for outside upkeep.

Townhouses. Townhouse ownership is a hybrid form of condominium and/or cooperative. Typically, the townhouse unit owner has ownership of the living space and the land below it, with some form of group ownership of common areas. The owner may or may not own the roof above the unit, a patio or deck, or the front lawn area.

Check out condos and co-ops
Before buying an apartment, make sure you are familiar with four primary areas.

1. The financial health of the organization you are joining. Does it have substantial reserves to cover renovations, repairs, and maintenance?
   
2. The condition of the building(s). Does it need a new roof, air conditioning, elevators, boiler, swimming pool, and so on?
   
3. The covenants, conditions, and regulations you must promise to observe.
   
4. The percentage of owner-occupancy. More homeowners and fewer tenants is preferable.

Mobile homes
The primary attraction of mobile home ownership is lower initial cost as compared to a single-family dwelling. The primary disadvantage is finding a lot on which to put a mobile home. Some communities strictly forbid mobile homes or regulate them to specific locations in the city or county. Therefore many mobile homes are placed on rented land, such as mobile home parks. So, although the mobile home is yours, to an extent you become a tenant because you must rent space to locate your mobile home where it is permitted, and you are not free to move it wherever you want.

Another disadvantage to buying a new mobile home is that it depreciates like a new automobile depreciates. Therefore, mobile homes should not be considered an investment. Rather, they should be considered as strictly a housing option. As such, a good used mobile home is many times preferred over a new one.

Conclusion
Before you decide to buy a home, consider all options and anticipate the future. What is practical now may not be practical in two years, and what is “too much house” now may be the right size three years from now. With much prayer, consultation with experienced home owners, and seeking advice from attorneys, builders, and financial advisors, you should be able to make a decision that is within the will of God and one that will fit into your budget.