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I'm a financial planner and I bought a house in the middle of the pandemic — here's why - Business Insider

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'When it came to buying our house, had I only been thinking about the short term, I probably would not have gone through with the transaction. There was too much uncertainty, too much that felt like it could go wrong'

; planning is what I do for others for a living. We take our own personal planning very seriously as well, and spent hours and hours just discussing this potential money move.we actually sat down to run projections, evaluate scenarios, and determine what was financially feasible to do. It's important toThere are always tradeoffs to make, or levers you can pull to adjust things so that your financial plan works. You can retire earlier or work longer.

Once you feel clear on what you want, then you can sit down with the numbers to see what works and what doesn't.why As for the numbers themselves, there were two other big reasons why our financial planning gave us the confidence to stick with it and move forward.We plan conservatively, meaning the assumptions we made when we evaluated scenarios and ran projections to determine if buying a house was something we could truly afford were on the safe side.

That combination of factors means that we're planning off of what is hopefully a far bleaker picture than what will actually emerge in our future reality.

 

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