What should a young family look for when buying a new home?
There are many factors to consider when looking for the right house for you, including:
The price of the property
When deciding how much money you can afford to spend on buying a new home, use a mortgage calculator to determine a reasonable purchase price and then get in touch with a lender who can tell you if your mortgage could be approved. Knowing the price range you can afford will help you narrow and simplify your property search so that you focus, only on properties that are within your means.
Property size
How many bedrooms and bathrooms do you need for your family? Are the common areas (kitchen, living room, dining room) big enough?
Location where the property is located
It is important to assess whether the surrounding area is suitable for you and your family. Will your commute to work or school be reasonable given the distance? Is the neighborhood where you need to commute regularly accessible to you on foot ? Does the available school system in the area meet your needs?
Type of house
Find out what type of house is suitable for your needs. For example, an apartment or townhouse may be a good choice if you don’t like working in the garden.
How to find the ‘best home’ for your needs
At any given time, there are thousands of different homes for sale across the country.
With so many houses to choose from, it’s no wonder that finding just the “best house” can be a real challenge.
However, for home buyers who take the time to think about what they want in a home and what they really need, shopping for the right house can be much easier.
The key is to keep your interests at the forefront throughout the home buying process.
Before you start your search, make a list of things you need your home to have and then a list of things you could do yourself.
There are at least ten categories.
Price of the house
You can’t buy a house until you know your budget.
To figure out your housing budget, determine a monthly payment that you will be able to comfortably pay for a home. Then, with the help of a mortgage calculator, work out your potential purchase price.
Once you know your maximum purchase price, it’s time to get in touch with a lender who can tell you if your loan can indeed be approved for the intended purchase price you’ve set.
This process is also called pre-approval. It helps your offer in feasibility when you finally find a home. It also helps you avoid the heartache of falling in love with a house you can’t afford to buy.
After setting your budget, search for suitable homes within your specified price range.
Searching for houses in a specific price range will narrow down your search results and help you focus properly when choosing a suitable house. For example, homes in the suburbs can often be more affordable than homes closer to an urban neighborhood or in the city center.
Remember, it’s important to only look at homes that don’t exceed your entire budget.
In addition to the price of your home, you should also leave room in your budget for expenses such as the cost of upgrades or renovations to the home, if necessary.
Number of rooms
Apart from the price, the size of the house is another very important factor that will influence your buying decision.
Knowing how big or small you need the house to be will help you find the house that best suits your needs.
A good way to assess how much space you will need is to ask yourself how many and what kind of rooms would you like to have in your home?
This question is especially important for home buyers who have children or plan to have children.
Can the children share a room, or would it be better for each child to have their own room? Would you like to have an extra guest room or a room where your parents could grow old?
If the house has fewer rooms than you would like, are there other rooms in the house that could be turned into rooms you need? For example, could an office be turned into a small guest room? Could the finished basement be turned into a playroom for the kids?
You’ll also want to consider the size of the rooms. A large children’s room may be better suited for siblings to share than a small children’s room.
Number of bathrooms
Just as a home buyer must consider how many rooms are needed to meet their needs, so too must a buyer consider how many bathrooms are needed for a home.
Will one bathroom for every room meet your needs? Would you like your home to have a guest bathroom as well?
What about an easily accessible though only half bathroom on the first floor of the house? Do you need to have a bathroom in the basement as well?
You should also think about what features you want to include in your individual bathrooms.
Would you like to have a bathtub in each bathroom, or is just a separate shower acceptable? Would you like to have multiple sinks in the bathroom so that two or more children can get ready for school or brush their teeth before bed at the same time?
Kitchen
Homeowners who like to cook often prefer large kitchens with plenty of space for cooking and storing the necessary food. In contrast, homeowners who frequently dine out at restaurants may have different kitchen needs.
When considering a home kitchen, look for state-of-the-art appliances, including a dishwasher, stove, oven, and refrigerator. If the appliances in your kitchen don’t meet your needs, make room in your budget to update them. This is an important factor to always be aware of in the process of how you look for real estate.
Also consider whether your kitchen will be “your” dining room. If you plan to eat meals in the kitchen as opposed to a formal dining room, you’ll want to make sure that the kitchen can accommodate your entire family for breakfast, lunch, and dinner.
Dining Room
Some homes have a combined kitchen and dining room. In others, the dining room is separate from the kitchen.
Whether you eat in the kitchen or the dining room, consider the “extra space” that the dining room can provide when hosting a small or even a large number of other potential guests.
Think about how your family will dine, and make sure there is enough necessary space in your dining room for your family. Depending on your needs, dining rooms can be combined with a living room or even a music room.
Place of home
You may know that you are moving to a certain city or to a certain part of town, but every street is different. The location of your home is important.
For example, if you have children or plan to have children, you may want to move to the best public school district you can afford. Do you want to live within walking distance of schools? Or would you prefer your children to travel to school by bus?
Would you like to live in a community where there are a variety of sports clubs?
Is there a park nearby?
Is it important that your neighborhood be child friendly? Is there a community pool nearby? What is the crime rate in your chosen area?
Consider what you would like to have within walking distance of your home and what you would not mind travelling to by public transport or car.
Type of house
Just as important as the size and location of your house is the “type” of house you buy.
Homeowners who want a large yard or space to grow a garden may not want to move into an apartment building or townhouse, where yard space is often limited.
Similarly, if you prefer to live in a house without stairs, a farm-style home or bungalow may better suit your needs than a multi-story stately tall house that may require scaffolding to maintain in the future.
Rear yard and front yard
When buying a home, it’s important to consider its outdoor spaces as well.
For example, home buyers who love to garden may want to look for homes with favorable sunlight and plenty of space to grow fruits and vegetables. Similarly, families with children may prefer a large yard to play in.
Consider whether you may want to have a room with swings, a playhouse or a pool.
Home buyers who like to spend time outdoors may also prefer homes with a large porch or patio.
Want a backyard with a little privacy?
Is there room to build a fence or garden?
Parking
Adequate parking is another important factor in a home.
If the house doesn’t have a driveway or garage, is there enough room on the street for parking? Will there be enough on-street parking during a dinner party or gathering of other guests?
A house with a driveway or garage gives the home more privacy and also makes it easier to bring groceries into the house. A long driveway can also prevent small children from running into the street.
Households with multiple cars or sports equipment may need a garage for storage space.
Energy efficiency
Finding a home that is energy efficient not only helps the environment, it can also save you money.
For example, a house with many windows can help you save money on electricity bills because of the amount of daylight you get during the day.
Thermal insulation of the house is also important. Homes with proper insulation can save you money for gas and electric bills. Some homes may even be equipped with solar panels or solar collectors or pumps to help reduce energy costs.
We hope we’ve helped you get a bit more familiar with how to look for properties. How to search for properties is not rocket science, but it can be stressful for first-time buyers. That’s why at REA Property we are happy to lend you a helping hand and that’s also why we have created a buyer’s agent service where we will do the market research for you, negotiate the purchase price for you, arrange legal protection, check the technical and legal condition of the property, arrange financing and even deal with the authorities for you. We will assist you up to the handover of the keys and also with transcription with utility and energy suppliers.
Looking for the perfect property?
Choose our real estate agency REA Property and choose from our offer of properties.
