What You Should Have in Mind When Buying a Family Home

Buying a new place for your family is a huge step and under no circumstances should it be taken lightly. It takes time and quite a dosage of careful consideration. First of all, it’s a kind of a once-in-a-lifetime action and it represents a huge responsibility. When you have a family, you need to think about the needs of every family member, as well as your own. These are usually various and it’s really difficult having to compromise between all the requirements and your own budget. However, if you make a plan with key points to consider, you won’t end up regretting your decision.

Long process

First of all, you need to know that this is going to be a long process. You can’t just wake up in the morning and think: “Hey, let’s buy a new house”, snap your fingers and you’re done. It takes time and it has various stages. The first one, being only theoretical, focuses on listing everything you want your new house to be, including your family members, of course. After that, you need to figure out your budget and then, finally, check the market and try to find your dream home. The Australian housing market is rich in variety, so this stage is probably going to be a long one, too.

Size matters

One of the things you need to know before you start your search is how big you’d like your house to be. This is not merely a matter of quadrature, but of functionality. How many rooms do you want in your house? Should it have more than one floor? How big of a yard do you want? Smaller houses are more affordable and easier to clean. However, too many people in a small space is definitely not an ideal living situation. Plus, you need to decide whether or not you plan on having more children and make a good estimation of the space you’ll need.

Environmental standards

We usually pay more attention to visible threats than invisible ones. Checking the crime rate in the surroundings of your new house is something people usually remember to do. However, there are environmental factors people tend to neglect such as the quality of water, air, as well as any potential polluting factors. There may be pollution coming from a nearby factory or stemming from building materials such as asbestos, which was used to build houses and only later discovered to be poisonous. This is something that is being regulated nowadays in Australia. All realtors suggest air quality testing in Brisbane to make sure you’ll be living in healthy environmental conditions.

Location, location, location

When choosing a location for your new house, there is a variety of criteria you can set. However, some are more important than others. The first and most important should be the proximity of a medical institution and your kids’ school. You should also take into consideration the proximity of pharmacies, grocery shops, as well as your own workplace. Of course, having a car changes the equation somewhat. Nevertheless, it’s essential that you consult on these matters with other members of the family and decide on the priorities.

Rationalize

Buy a house you can afford. Don’t go overboard, it’s a trap. We all get the urge to bite off more than we can chew when it comes to investments such as this one and it’s hard to keep your emotions out of the decision making process. However, you should try hard to set a very realistic financial plan that will enable you to maintain a normal life while paying off your loan.

All things considered, the most important thing for you to know is that you shouldn’t rush things. It will probably be slow and frustrating, but you can’t settle for less than what you want and deserve, so it’s better to just be patient and persistent and things will work out just fine eventually.

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