Starting a family is a big step for any homeowner. It's a step that can mean a lot of major changes in someone's life as well as their lifestyle. A home that worked well for a homeowner before they started a family may not work as well afterward. This is why many people who are about to start a family look for a new home. When you are purchasing a home during this time, it's important to keep a few things in mind. Here are three things to look for when looking at homes for sale so you can find a home that will eventually house a growing family.
School district isn't something that many potential homeowners pay attention to before having children. However, once children are in the picture, school districts become very important. Not only is a good school district good for education, but it can also have a positive impact on a home's value. One out of five home buyers report that they would pay 6 percent to 10 percent more for a home if it was in a good school district, and one out of ten would pay up to 20 percent more. Purchasing a home in a sought after school district can make a home easier to sell in the future.
Bedrooms and Bathrooms
Another thing to look for when purchasing a home is enough bedroom space for any future additions to the family. Bathrooms are also important. Parents will often want a bathroom separate from that of their kids. Many also look for bathrooms that have bathtubs that are easier for little ones to use. When you are looking at homes for sale, it's important for home buyers to have a good idea of how many bedrooms and bathrooms their growing family will require.
Another factor to consider is budget. Expenses can skyrocket after having a child. This means that a mortgage that was previously affordable may not be after starting a family. Having a child can add on average $14,970 in annual expenses for a middle-income family. Things like childcare, health insurance, and diapers can really add up. Estimating these expenses before purchasing a home is important. In some cases, it may be necessary to purchase a less expensive home in order to be able budget in the cost of having children. It's also very important to get the most competitive home loan and interest rates possible.
When purchasing a home, there are plenty of things to consider. Location, cost, and the home itself are very important. Home buyers who are about to start a family should also consider a few other things as well. When you are starting a family, things like school district, the number of bathrooms and bedrooms, and future changes to the budget must all be considered before you purchase a new home.