I’m sure we can all agree that purchasing your very own home is one of life’s most rewarding experiences, especially when you’re raising a family.
However, it’s no secret that finding the perfect family home is no small feat. With so many factors to weigh, it’s crucial to embark on this journey with a clear understanding of what you need and what’s at stake. After all, the last thing you want is to make the wrong decision during one of the most important times of your life. Fortunately, we’re here to help.
These top 7 considerations are key to ensuring that families can make informed buying decisions in the world of real estate.
1. Make Sure You Can Afford It
While talking about dollars and cents isn’t exactly anyone’s idea of fun, it’s crucial to ensure that you can afford your new home. From school fees to clothing, tuition, extra-curricular activities, toys and more, the list of expenses is never-ending (and always growing) for a parent. With this in mind, it’s essential to strike a balance between your desires and your financial reality.
For example, you may have always dreamt of living in a luxurious mansion, but are you ready to take on all the debt and responsibility that comes with making that dream a reality? Instead of stretching your budget to its limits, consider what your family truly needs both now and in the future.
By giving your financial situation a thoughtful once-over, setting up a budget that’s as real as it gets, and using tools like a home loan repayment calculator, you’ll set yourself up for a future free from excessive financial stress.
2. Location, Location, Location
Prioritising location when purchasing a new property is always important, but even more so when raising a family. At the end of the day, the neighbourhood you choose can and will have a significant impact on your family’s daily life. Of course, each family’s idea of a perfect location will differ according to individual preferences and needs, but generally, you’ll want to choose a location in good proximity to amenities such as schools, parks, medical facilities, public transportation and, of course, work.
In the end, every family’s requirements are unique. So, before you lock in your decision on a new property, be sure you’ve taken some time to consider what those requirements could be. If you’re straightforward and comprehensive in recognising these necessities, it’ll be much simpler to pick out the ideal home. Remember that a safe and convenient location can save you time and reduce stress as your family expands, something that is always welcome in the whirlwind of parenting and daily life.
3. Prioritise Safety
Another thing to consider when you’re on the hunt for your new home is safety. First and foremost, you’ll want to ensure that the neighbourhood or suburb you choose is safe, and ideally, with relatively low crime rates. An easy way to check if your desired neighbourhood is safe is to use tools such as a crime map. Remember that at the end of the day, there is no point in throwing all your money into a gorgeous home without ensuring the safety and security of your family.
Aside from the safety of your neighbourhood, you should also research the safety features of the specific property you’re interested in. When inspecting properties, check for secure locks, functioning smoke detectors, and proper lighting around the premises. These details can make a significant difference in ensuring a secure and comfortable living environment for your family.
4. Think About Size & Layout
It’s no secret that as your family grows, so does the need for space. This is why prioritising size and layout plays a huge role in selecting your new property. For starters, evaluate exactly how much space you will need — would you like a big backyard where the kids can play? Is there a minimum number of bathrooms you would prefer, to ensure that no one has to fight for the shower on school days? There are dozens of questions you’ll have to ponder over, so spend some time noting them down before beginning the property hunt. Remember, finding the right balance between space and functionality is key. It’s not just about having more space; it’s about having the right space that aligns with your family’s lifestyle and needs.
In addition to maximum square footage, you should also take some time to think about your ideal layout. Are you looking for an open-plan home that is ideal for entertaining and keeping a watchful eye on the little ones? Perhaps you’re after a closed floor plan that offers more privacy as your children grow into young adults. While you’re at it, consider the flow of the space — is it easy to navigate between rooms, and is there a balance between family areas and private spaces? Finding the right layout can greatly enhance your family’s daily life in your new home.
5. Future-Proof Your Home
One of the biggest traps that parents often fall into is overlooking the need to future-proof their homes. While it’s natural to focus on your family’s needs in the here and now, it’s equally essential to consider how your home can adapt to your changing requirements over time.
First and foremost, think about the flexibility of the space. Sure, you might need a dedicated nursery for the next few years, but it’s always a good idea to think about how that space can evolve into a playroom, study, or even a guest room as your children grow and your family’s needs transform.
Another thing to consider is the energy efficiency of the home. Investing in energy-efficient appliances, good insulation, and renewable/solar energy sources will ensure that you’ll never have to pay through your nose for utilities. You should also think about technology — is your chosen home equipped with the infrastructure to handle increasing digital demands? As technology continues to play a significant role in education and daily life, having a well-connected home can be a game-changer for your family’s convenience and productivity.
Finally, consider the long-term upkeep and durability of your home. Opting for materials and systems that demand less maintenance and offer extended lifespans can help you save time and (a lot) of cash over the years. Keeping your home in good shape ensures it maintains its value and offers a reliable space for your family as it continues to evolve and develop.
6. Don’t Forget About Storage
One thing that might catch you off guard when you’re considering starting a family is the sheer volume of belongings that come with children. Whether it’s clothing, toys, books, or furniture, things can add up QUICK, making it more important than ever to ensure your new home comes with sufficient storage space. The last thing you want is for your brand-new home to resemble a cluttered maze where finding anything becomes an adventure in itself.
So, when you’re on the hunt for a new home, be sure to check out the storage features. Are there plenty of closets, cabinets, and shelves to keep things organised? Think about walk-in closets in the bedrooms, a neatly arranged pantry in the kitchen, and built-in storage solutions in communal areas. Oh, and don’t overlook the garage or basement – they might offer extra storage space too.
At the end of the day, having designated spaces to stow your family’s stuff not only keeps your place in check but also ensures you can easily find what you need when you need it. So, as you scout for the ideal home for your growing family, make sure it’s got enough storage to handle your ever-growing stash of kiddo gear.
7. Consider Future Resale Value
Last but not least, remember to consider future resale value. You may think that this will be your forever home at the present moment, but the only certainty in life is uncertainty. The truth is that circumstances change, and you never know if you’ll need to sell your house down the road. Who knows, you could get a new job, feel the need to downsize when the kids leave the nest, or simply desire a change in scenery 20 years down the road.
With this in mind, selecting a property with solid resale potential will help to protect your investment and potentially even make you some extra cash when you decide to sell. Hunt for features and traits that appeal to a wide range of potential buyers, like a great location, a well-kept home, and a flexible layout. While your home should suit your current family needs, it’s just as key to ponder how it’ll catch the eye of future buyers. This way, you’ll have some peace of mind and financial security for whatever curveballs life throws your way.
And there you have it — everything you need to consider when purchasing a new home for your growing family. By taking these points into account, you’ll not only find an abode that suits your current needs but also sets the stage for a bright and secure future.