Giving You And Yours Every Advantage
When starting a family, you want to give your children the best possible foot forward you can. You want to have a home that’s in a good district of town. You want that district to include a school that has been reputed for its excellence. The private option is unquestionably better than the public one, but it’s also much more expensive. Still, if you can go this route, do so.
Likewise, the home you have for your children is going to be very important in their development. To a certain degree, how they’re raised will develop into a sort of “gestalt” which subconsciously acts as a reference point throughout their adult lives. To know this is true, just remember your youth, and how it has a sort of unique quality from your mature life.
The things we learn when we are young become psychologically stationary and act as starting points for our adult activities. Accordingly, it is of the utmost importance that you give your children the best upbringing you can, and a big part of that will be the home in which you raise them.
So ask yourself a few questions. At what do you and your spouse excel, and what sort of resources do you have at your command? If you have resources, you may want to look into big-ticket apartment options in the center of town, like these east side luxury apartments in NYC, or the units available at this website in California: https://www.ucdaviswestvillage.com/.
Solutions For Those With Diminished Means
If you don’t have resources, you might want to look at homes that aren’t located in big metropolises. For example, in Ohio, the level of income you need to live at the upper end of the middle class bracket is between a third and a fourth the cost of living in Los Angeles, depending on where you are.
Essentially, $110,000 a year gives you the same buying power in California as around $38,000 would in Ohio. This means you get more bang for your buck, and so you can give young one’s luxury like the big city in a small town. However, there is a remote aspect to consider, and the locality in which you raise your family will have some impact on them.
Ideally, you could drop $500k on a single-family home in a big city near where “everything is going on”, and so help your young ones be the most well-rounded individuals they can be. However, there’s a sort of compromise between the luxury apartment and the home in the city which may allow you to “have your cake and eat it, too”, as it were.
The Tiny Home Movement
This compromise is the tiny home movement. Essentially, a tiny house is less than five hundred square feet, or about the size of an apartment. You have to live a reductionist lifestyle, but you can totally own your home, even gradually adding property upgrades which expand its value over time, allowing you to sell at a profit.
Such tiny homes can be built in big cities relatively cost-effectively—but you’re going to have zoning ordinances and other things to consider. Still, it’s a worthwhile education for you and your family, and can allow you to achieve the well-roundedness you seek at a budget you can afford.
Making The Right Choice
Whatever you do, you want to focus on giving your children the best possible upbringing you can. With anything worth doing well, there’s going to be some difficulty involved. Whether you’re renting, owning, or building your own home, take your time, do your homework, and do your best to live below your means. Following such strategies will help you achieve your goals.