5 Essential Tips for Homebuyers Starting a Family
Buying a home can be an emotional experience — especially for young couples starting a family. But it’s best to leave the emotions behind and approach the process with a healthy dose of logic nowadays. By doing your research and staying prepared, you can buy the right home for your family’s present and future.
#1 Ensure That You Can Afford It
As you probably know, a financial strain can negatively impact your family’s lifestyle. So, ensure that you can afford the home you’re buying. Not only do you have costs such as a down payment, mortgage payment, property tax, and homeowner’s insurance to prepare for, but hidden costs too, such as maintenance, upkeep, and repair.
Sit down with a financial adviser and figure out what you can afford. Next, get mortgage pre-approval to make the process more seamless.
#2 The Right Number of Rooms
It’s a good idea to select a property with the right number of rooms within your budget. You can plan according to the intended size of your family.
Besides a master bedroom and bathroom, you will eventually need one bedroom and bathroom per adult child. However, younger kids can usually share bedrooms until they grow into teens. That’s why many first-time homebuyers start with smaller homes and eventually upgrade when their children need privacy.
Also, Check – Buying a home in Sacramento: What you need to know
#3 Consider the Amenities
There is more to a family home than the number of rooms. Consider spaces like an attic, basement, lawn, yard, and parking when examining a property. Such spaces can be beneficial to your family.
#4 Look up Schools
In countries like Canada, schools are allocated to neighbourhoods. Unless you plan to send your children to private schools, you should check out the quality of public schools in the neighborhood. Some neighborhoods are close to multiple excellent schools. For example, Lawrence Park, in Toronto is near three top public schools:
- Blythwood Jr.
- Sunny View Jr. & Sr.
- Lawrence Park Collegiate Institute
Being one of Toronto’s most exclusive neighborhoods, Lawrence Park is certainly sought after by parents. That’s why many homebuyers turn to the best Lawrence Park realtors to find their dream home in the area.
#5 Check Out the Neighborhood
After finding a suitable property near an excellent school, you should check out the neighborhood to see if it’s suitable for your family. Here are some things you should look up.
- Aesthetics: Check out the roads and houses in the area. A well-maintained neighbourhood usually a good environment for a family.
- Crime Rate: Look for a neighborhood where it’s safe for your children to ride bikes, take the bus, or go for walks with their friends.
- Facilities: Neighborhoods with excellent parks, recreation centers, libraries, and other amenities are a nice place for a child to grow up in.
- Businesses: Check the type of businesses near the area. Certain types of businesses, such as banks or convenience stores, are a more positive sign than others.
- Transit: A neighborhood with access to transit will offer your family independence.
- Highway: It’s helpful to live in a neighborhood near a major highway if you have a long commute to work.
Finally, prioritize your list of wants. For example, a home near a good school may be worthwhile even if it doesn’t have your dream kitchen. Likewise, a property in a healthy neighborhood near parks is probably a better place to start a family than a much larger property in an unsafe area.
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