*This is a collaborative post*
Getting the perfect family home seems like a daunting task. Yet with the right planning, it can be much easier than you may first anticipate. By setting achievable expectations, your family will have the ideal abode in no time. Read on as we give our essential tips for finding the right family home.
Get Your Finances Right
You may have a picture of the perfect family home in your mind. However, the right family home is often one that you can afford. Overstretching a budget will mean long-term financial problems for your family that can have repercussions. It is better to manage your budget and be comfortable, so you have money to enjoy your life together.
Begin by working out how much you can afford for the house itself. This will depend on your income and the size of the deposit you have managed to save. If you are selling a home to finance it, calculate how much you will have after the sale and subsequent payment of your remaining current mortgage.
If you don’t have a mortgage on the property and want to move quickly, you may consider selling to a sell my house for cash style company. While they may offer a lower amount, they can have sales turned around extremely quickly. In a seller’s market, moving fast when you have found the right property and have the cash in your bank can give you a distinct advantage.
Once you know the type of home you can afford, begin to think about the future. Are you likely to have any major financial changes that can impact the amount you can repay? If so, factor this into your borrowing.
Think about Current and Future Needs
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The right family home will grow with you. Should you plan to have more children, then look for a home that can accommodate your expanding family. You may also want to consider extra spaces for elderly relatives, who may need to live with you in later years.
Employment is also a factor. With more of the labour force moving to remote working, having spaces such as an office is always helpful. If two of you are working from home, even just one additional small space can make a world of difference.
Finding the Right Location
In many ways, the location of the house is more important than the building itself. Firstly, it has to be the right distance from the important places in your life. This can include work locations, other family members and friends.
For many, the catchment area of local schools is a deciding factor. If you are not sure of the schools in a certain area then do some research beforehand. Be warned that good schools have a marked impact on the prices of properties in given areas.
The area will also have a certain lifestyle, and you may have a vision for this in mind for your family. It could be one with leafy, green areas, or you may want a coastal town for them to grow up in.
After this, you just need to locate the house. Prices and demand can fluctuate, often changing within a few months. Take your time and don’t feel the need to buy immediately. With patience and planning, the right family home will come.