How to DECIDE
When making a decision to move, no matter if it’s for a new job, a change in marital status, retirement or just for the sake of change, you will want to check out several options and choose the one(s) that fit your lifestyle, values and life circumstances. But first you need to create an inventory of just what criteria are important to you and the priority they take.
Use the Housing Plan Worksheet to brainstorm the elements of your family’s dream home.
Define the Problem
- To help identify what you want to achieve, ask yourself:
- What do you want to achieve by renting your next place?
- Do you want to save up to buy one day or are you looking to downsize?
Establish Your Criteria
- Which features are wants and which are needs?
- It’s elimination time. Remove any options without your must-have features to get your list down to two or three options.
Identify Pros and Cons
- Make a chart so you can quickly compare the features and prices of each of your top two or three choices.
- For the options you have listed, identify the pros and cons of each. Be specific.
- Choose the rental property that best matches your criteria.
- Did you stay within budget? Do you feel good about your choice?
- Set a plan for how long you will live in your new place and start saving for your next move.