When a person is ready to make the transition from renting to owning a home, they will either begin with a starter home or buy a home that they intend on living in for the rest of their life. You might like the idea of raising a family in the same home and having your kids come over when they are adults to see what their old bedroom, living room, kitchen, and neighborhood look like after so many years, But this can be a problem when you only have so much money to invest in a house because you may not be able to purchase one that has all of the bedrooms you would prefer to have for comfortable living. An alternative is to look for features that will give you room for growth that does not involve having extra bedrooms.
A perfect opportunity for you is when you find a house with an unfinished basement. Although you might end up using it to make an extra bedroom, the possibilities are endless. You can turn it into a full-time rental or vacation rental with the intention of renting it out to one of your kids in the future. The fact that it is unfinished means you will not have to pay much of a premium to get your hands on such a home. It allows you to save up money over time and make changes when you want or need to make them.
Another place that you can transform into a living space is a convertible attic. It needs to have certain specifications for you to be able to make it into a bedroom in the future, but it can be worthwhile. Such a project can range from around $40,000 to $60,000, so it is something you will want to save a long time for, but it may be just what you need to avoid buying another home to accommodate your family.
Most people use their garage for storing their vehicles, working on projects, or to store their additional belongings. But, you can also convert an attached garage into a spare bedroom or living space. It may require you to add some insulation to the walls and get a new garage door with better insulation. A steel door is perfect for providing high levels of insulation and can cost you between $750 to $3,500. Combine that with around $2.40 per square foot of quality insulation in the garage and you are set.
With some or all of these features, you will have plenty of room for growth in the home you buy. Work with a real estate agent to find a great home your family can grow into.