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Real estate is an investment. Even if you plan on living there, your goal is to make a profit when it’s time to sell. The old axiom of real estate still stands; the key is location, location, location. You can make any changes you want to your family home, but you can’t change the location.

So where are you going to buy? Often finances will help narrow your choices but will you choose an older neighborhood or build in a new development? Older neighborhoods allow you to see the history of growth. House prices are available online and you can see the trends before you buy. But old neighborhoods mean old houses. While landscaping might be all done for you, older houses are in constant need of repair and renovation. Depending on who you buy the house from the decor might fit your tastes or give you nightmares.

New neighborhoods are more of a gamble. They don’t have a history, but they often have a brighter future. When you are surrounded by newer houses your property gains value quickly. And if your neighborhood is where everyone wants to build family homes, the exclusivity will set you up for a feat return on investment. New houses give you the opportunity to make all the decisions for decorating and design to match your taste and furniture. You often have a blank slate to fill with your choices.

Make your choice a happy one.

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Anyone who owns a home has had the fear; the fear of something going wrong and breaking. In the winter you hope the heating work and in the summer you keep an eye on the air conditioning. Inevitably something is going to need to be fixed and it’s up to you to get it done.

The quick answer in most situations is to call an expert. Those in apartments have the handy building superintendent to rely on. In your own home everything is on you. Don’t fret. You have many more tools in your arsenal than you may think. Roll up your sleeves it’s time to learn how to repair.

Take it slowly. Family homes are going to need repair but you already know some tricks. Plunging a toilet or cleaning out a clogged sink is basic and probably something you’ve done before.

Time to meet your neighbors. There is someone in every neighborhood who is the ‘tool guy’. He owns every tool and knows how to use them all. Don’t be afraid to ask for help. People who have the knowledge are usually keen to share it. And they probably will lend you the tool to do the job.

Go online. There are countless website on home repair that offer free step by step instructions. Many have videos showing what to do and how to avoid making it worse.

Know when to step aside. Electrical problems, roofing and even landscaping are usually best left to the professionals.

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When looking for a place to live there are so many choices. Do you want an apartment, condominium, house, cabin, etc.? Even when you decide there are other factors, location, price, quality, neighbors and neighborhood. Above all you have to decide if you want to rent or buy. Each one has its benefits and each one has it negatives. There is no clear-cut answer.

If you don’t plan on staying in the town you are in for long rental seems the best choice. But as a renter you don’t have the freedom to do the decorating and personalization you may want. Even if it’s temporary, it’s still your home. Payments you make every month leave you with no equity at the end.

When you buy a place to live you are often responsible for extras you may not have bargained for, landscaping, home renovations and repairs are all on you. Renters don’t have to worry about these.

Often finances make the decision for you but it’s not as hard to save for a down payment as it might seem.

When it comes down to it, you need to make a list of what you want in a home and let that be your guide. If you want to control all aspects the home and property you’re looking to own.

If you just want a place to park your furniture and would rather leave the yard work and improvement to someone else you’re a renter.