How far forward do we look when thinking about our property? Is it one year ahead? Ten years? Thirty? What's your time horizon?
How far forward in time we look affects how we act now.
Think of a time when you have been in a short-term fixed lease.How did this affect your approach to your property? Not just the house, but the land as well.
How about a 5 year timeframe. Maybe this is a longer term rental. Perhaps you were living with someone who owned the property. You're not planning on being around for that long, but long enough to think about having to live through multiple warm summers, cold winters, wet springs and windy autumns in the same space. How did you approach the property? Not just the house, but the land as well.
Perhaps you've had the chance to be settled enough to think in a 10 year timeframes. What comes into the picture now? Not just annual seasons, but life seasons too. Planting fruit trees that take five years to fruit starts to make sense. Renovations might be planned. Perhaps even major extensions.
In a rare case, we might think about a 30 year horizon. Now we're starting to have a generational approach.
Why should our approach to our land change with our time horizon? Surely what makes sense with a 30-year view always makes sense?