Buying a family home is one of the crucial moments in any young person’s life. Children change everything – from the way we spend our time to the places we live. When it’s time to buy a home for your new or growing family, consider the following factors to ensure you find the home of your dreams.
6 Considerations When Buying a Family Home
Buying a family home can feel like a life-changing decision – and for many families, it is! There’s nothing quite like finding a home where your children will grow and thrive. However, before you put pen to paper and buy a home for your family, there are several considerations to take into account.
1. What is Your Lifestyle?
This question is perhaps the most critical consideration for families. Not all parents want a big house with a large yard. Some want to raise a family in the city. Others want to move to a small town or a rural community. While one set of parents want to be close to outdoor activities, others want access to museums, zoos, and cultural experiences.
Are you and your children laid back? Always on the go? Do you want to spend plenty of time outdoors gardening? Or do you want walkable access to all your family’s needs?
Before buying a family home, take a hard look at your lifestyle. Determine what is most important to you and your children, and then form your home buying experience around those priorities.
2. Childcare Accessibility
In many communities, all available parents must work full-time simply to afford housing and other necessities. Childcare is a top concern for many people buying a family home. Does one parent want to stay home with the children? Is there a location where homes are more affordable, therefore making that a possibility? Where are the closest childcare facilities, and do those options match your family’s values and needs?
Childcare considerations are incredibly important for many young families and should therefore be factored into a homebuying decision.
3. Education Options
Many families cite schools as the number one factor when buying a family home. What constitutes a “good school” varies from family to family, and location to location. The definition is different for each family. However, once you have determined what a “good school” or “good district” looks like for your family, you’ll want to factor that into your home buying decision.
For instance, do you desire public schools or private? Do you want your children to attend an arts-based school, a STEM-specific school, or something else entirely? How about international schools, where your children will have access to new cultures and languages?
For families with babies and toddlers, school might seem a long way off. However, those school years come faster than you think. Take the time to identify what a “great education” looks like for your family. Then, do your research and determine which location would be the best fit for your children.
Note: real estate agents cannot “steer” families towards specific neighborhoods or school districts, so it’s up to you to decide which options are best for your family.
4. Family and Friends
Another factor to consider is the proximity to family and friends. Raising a family can be complex and challenging at times, and many parents rely heavily on support from their extended families or close friends. Of course, it’s not always possible to live close to relatives or friends. Some people even move away intentionally. However, if you want your children to be close to the important people in your life, you’ll want to take that into account before buying a family home.
5. Healthcare Accessibility
Many of us remember feeling like our kids were always at the doctor when they were little. Between earaches, well-child visits, injuries, and seemingly never-ending colds, kids can be at the pediatrician every month or two.
Before buying a family home, consider the location. Is there a pediatrician or pediatric clinic nearby? How far are you willing to drive to get to a specialist? Does your child have medical issues that require specialized care?
6. Financial Considerations
Purchasing a home is one of the most significant financial commitments you’ll ever make. Before you lock yourself into a mortgage, consider what other financial obligations you’ll face as your family grows. Would you rather have a larger home in your desired neighborhood, but not have money to travel? Or would you rather live in a smaller home in a rural town, but be able to have one parent stay home?
Every family is different, and every financial situation is unique. But determining how much house you can realistically afford is vital to building the future your desire for your family.
Buying a family home is exciting, nerve-racking, and life-changing, all at once. Taking the time to discuss each of these points can help you identify what’s most important in the home-buying process.