As young couples start a life together and build a family, the apartment or condo they first lived in might be a bit cramped. Especially if such a couple wants to have a big family. At that point in their lives, it’s time to find a home with more space.
While having more living space may be the ultimate driving factor behind finding a new home, younger families can’t afford to ignore other aspects of homebuying. Having the right number of bedrooms and bathrooms is important. But here are a few other aspects of homebuying that should also factor in the ultimate decision of where to live.
This isn’t too obscure of an issue for many homebuyers, but it bears mentioning. Parents want the best education possible for their children. An added benefit to living in an area where schools give students a quality education also adds to a home’s value.
Does the neighborhood have a park district that provides year-round activities? Maybe organized sports like baseball, basketball and softball? Is there a local library where school-aged kids can get the right materials for their school projects? How about a local pool where kids can cool off and have a little play time with friends during the summer? It sounds like a lot to consider. But looking at these kinds of issues ahead of time can help avoid buyer’s remorse.
A safe and walkable neighborhood
This goes hand in hand with the previous point. Young parents not only want the kinds of attractions that will help shape the growth and maturity of their children, wouldn’t it be even greater if those attractions were within a walkable distance? Of course. And one of the last things parents want to worry about (though they probably still will) is the safety of the neighborhood as their kids either walk or ride their bikes to their activities.
A safe, comfortable layout at home
Perhaps a young family has toddlers and the long singular staircase in their current home is a safety hazard. Some parents no longer have to work in an office, so they need space for their home offices. Maybe parents would like a more open layout for the kitchen and dining room so they can keep an eye on kids as they do their homework. The Covid pandemic has certainly changed how people categorize what is a necessity and what is a luxury. It’s probably a good idea to put together a checklist of all the features wanted in a home and compare each home to that checklist before deciding.
Better Lending may not be able to help you choose what home is best for you. What we can help you with is choosing the right kind of mortgage for your budget. When you’re ready to talk to one of our experienced mortgage originators, call 888-400-1373 or email [email protected].
Earnest money is rather simple in concept and can give you the advantage over other bidders on the home you want. Find out why!
Borrowers are allowed to have Private Mortgage Insurance (PMI) removed from a home loan in two ways, automatically or by request.