Practice Management

Nothing merges the concept of life and work like your home.  It is the essence of work-life balance or blending.  That is one of the primary reasons that both my wife and I have decided to work out of our home.  After all, we are already paying for our home.  Why do we need to pay for something else?  Or, why should we pay so much for something that we hardly use, as many commuters find out.

There is a question of should you move home, but there is also a question of should you buy, trade up, or trade down?  And, if so, when should you do so?

I have advocated for a while now, that the time to move your practice home, buy a home, move up to a larger home or down to a smaller home (as your needs require) is now.

This is expressed, I think, in two different CNNMoney articles.

The first yells that home prices have posted a record 15.3% drop.   And, that prices in 20 major cities in this country have fallen for the 21st month in a row.  But, the price declines are starting to ease in many areas.

The second article proclaims that a housing recovery is over the horizon.  A Harvard report finds immigration and other demographic trends will fuel housing demand over the next decade.

So, the time to get in or get what you want is now.  After all, your home is going to be your largest investment.  You need to buy at the bottom of the market, when you can negotiate a good deal, instead of trying to buy at the top of the next boom market, when you need to be holding or selling.