AOT: Being (Over) Prepared

We've all heard the phrase, "Be Prepared".  It's not a complicated one in terms of memory or verbal output, but its impact stretches wider and deeper than the cursory glance might suggest.  In fact, "be prepared" can mean so many different things to so many people,  and the question becomes "how far into 'be prepared' do you go to consider yourself 'prepared'?"

As an over-preparer, I recommend going down as many roads as possible to consider all angles before making a decision.  Hosting a party?  Things to consider:

• Are you doing all the cooking? Do you have the prep-time and oven-time available for all the dishes?  
• Are people going to be bringing things?  Will it be potluck style or will you just ask them to bring drinks?  Can they pick what to bring or will you assign things?
• Do you have enough counter space to put out all the food and still have places for folks to sit?  Will they be inside/outside entertaining and eating?  Do you have extra tables and chairs and serving items if necessary?
• Do you know what time people will arrive and leave? is it set? is it not?
• Is it a small gathering where you need to be sure everyone more or less gets along? or is it large enough that you figure people can mingle and fend for themselves?

That's just hosting a party.  Wanna get a pet?

• Do you have all the supplies you need (bowls, crates, food, treats, leashes and collars (if applicable), bedding, if they can go in the car, car covers / seats / supplies, cleaning supplies, etc etc etc)
• Do you have the financial means to care for this pet (Food, treats, preventative medicine, vet visits)?  Vet visits alone have skyrocketed in the last decade.  Paying for pet care is no small thing anymore.  And most household pets live 5-15 years, depending on the animal, and their care gets more expensive as they get older.  Does your bank account and work schedule support that?
• PS - I'm a big believer that once you have a pet, it's yours until it passes.  All problems it has emotionally or behaviorally are linked back to you, so you need to work on you AND the dog if there are behavioral things.  Physical ailments happen.  But none of that is reason to give a dog back / put it for adoption / try to rehome it.  There's already an animal crisis.  Don't add to it by being underprepared.

What about something like buying property?

• Have you considered if school districts keeping housing prices high are applicable to the area you're buying?  Some towns are exclusively private school based and so people don't care about which public school the home aligns to.  Others neighborhoods are fully driven by their school district alignment, and being on the wrong street with the wrong schools can cost you significantly in home value.
• Are you ready for preventative maintenance costs - HVAC, Water, Bugs, electrical, etc.  Getting ahead of these issues with regular maintenance keeps the big problems at bay and maybe even makes the big problems LESS of a problem because you've managed to keep everything in better condition in between.
• Can you tackle lawn care?  Do you need to hire someone?  Are you prepared for that cost?  
• Do you have an HOA and do you know what they cover and what they restrict?  So many folks get "surprised" by this by not requesting a copy of the CCRs and Bylaws before buying, and this should never surprise you.  
• Your first 5-7 years in a property is mostly interest payments.  Can you afford a little extra every month to put towards principle to help shorten the length of time you're paying a mortgage?  And, if you did have to sell in the first 1-15 years, this would help make it so you're recouping some of your principal cost.
• If it's not a brand new house, do you have more than $10K in the bank that you can put towards emergency expenses?  Yes an inspection should uncover things, but even then you likely will have to pay for them as sellers are covering fewer and fewer items in this market.  Plus, once you close, all the problems are 100% yours now, and you don't want to put off something that can create bigger problems over time (think water, electrical, roofing, etc).

Again, those are three common scenarios, but this kind of thinking applies to everything.  If you're not accustomed to 'over' preparing, take the time to sit and write a list of what could go well AND what could go wrong.  Are you prepared to cover a portion of the 'wrong' column?  If not, maybe it's not the right time for you.  If you haven't thought about those things yet, this is a good exercise to think about them so you're less surprised in the future.

Hmmm, maybe this would be a good business to start! :)