Buying a home is one of the biggest financial decisions that you will make in your lifetime. Because of the ever-changing real estate industry, it is critical for home buyers to have a plan before making any decisions. If you are a parent, especially of younger children, there are a lot of factors that you must consider before purchasing a home.
The biggest variable that will impact a property’s future price appreciation is local economic growth. One of the best ways to make a solid buying decision is to find a home in a thriving city. Central Ohio is surrounded by many flourishing areas, making it a great place for purchasing real estate.
When choosing a location for your family, looking at the local school system is essential. Many parents make education one of their top priorities when deciding on a house.
There are numerous online rankings to see how the schools in an area compare versus others. It is important to consider both the schools overall ranking and their educational and extracurricular opportunities. If possible, you should take a tour of the school as well. Seeing it in person is the best way to get a feel for the district’s culture and the overall environment that your children will be exposed to
Financing is one of the biggest factors to consider when you are buying a home. While looking at different properties, it can be easy to let your emotions and excitement for the future get the best of you. Going into the home buying process, you should have a strict budget and clear expectations about what you can afford
With the strong economy, banks are willing to lend money to buyers of all financial backgrounds. However, buyers who have strong credit will have a lower interest rate than buyers with poor credit. Home buyers should start preparing financially for the mortgage application process many months before buying a home. Paying down old debts is one of the best ways to increase a credit score. It is also a good idea to look at a full credit report before applying for any loans.
When scoping out properties, some people only look at the size and amenities of the property. Parents should also consider the size of the yard. There are many benefits of having a big yard. You can play outside with your pets and kids, and take advantage of the space for outdoor entertainment. This also gives you room should you decide to expand your property.
Your kids are growing and changing constantly. Do they have enough space? Are there enough bedrooms and bathrooms for everyone? Map out the needs of each of the members of your family before looking at houses so that you can be sure everyone will be happy and comfortable in the new space.
Buying a home can be tricky but buying a home as a parent can be downright complicated. When you do find the house of your dreams though, check out our guide on how to make a move with children run smoothly. And as always, if you have any questions or concerns about the home buying process, give us a call at Crager Tobin Real Estate today.