Buying a home can be one of the most exciting times in your life, but it can also be a bit daunting. Many first-time buyers are simply unaware of all the various choices they can make when it comes to buying a home. Below are some of the most important considerations and things to keep in mind to make sure the home you buy suits your family well both now and in the future.
If you’re just getting started and this will be your very first home purchase, then a “starter” home is a great option. This is especially true for younger servicemembers and veterans who do not yet have children, but who would like to have children someday. A starter home is typically rather small but provides enough room for growth. It’s called a “starter” because it not only fits your budget, which tends to be a bit smaller when you are younger, but it also fits your borrowing ability and your family size. A starter home may last you anywhere from five to 10 years, or it may very well become your “forever” home. Keep these things in mind before you buy.
When it comes to space (number of rooms and square footage), it’s okay to compromise on some things, but with others, it may be best to keep searching. For example, if you need at least two bedrooms – one for use as a bedroom and one for a home-office for a spouse who works from home – then you can’t really compromise and settle for just one. However, if you wanted at least two bathrooms for the sake of convenience and the home you’re considering only has one, you may be able to make it work if everything else fits your needs. You need enough space to live, so be sure to think about where you are willing to compromise and where you are not.
If you’re signing a six- or twelve-month lease, it may be okay to settle for a layout you don’t really like or a location that’s less than perfect. However, when you buy a home, this is a much longer-term commitment, so you really need to think things through. If you absolutely do not like the home’s layout, it’s best that you don’t buy it. Similarly, if the location is wrong, you’ll spend more time feeling frustrated with your purchase than loving it. To put it simply, never buy a house that you don’t absolutely love – or a house that you could love with a little TLC.
Finally, think about the size of your family currently and whether you expect that your family will grow while you are living in the house you are purchasing. For example, if there’s a chance that you might welcome a baby, or even if there’s a chance that your elderly parent may need to stay with you, make sure that you are taking this into consideration when buying a home. You’ll need some extra space, whether that’s another bedroom or even a finished basement.
Choosing the perfect home for your family is all about coming up with a list of must-haves and a list of would-like-to-haves. When it comes to must-haves, you should never compromise; otherwise, you may find yourself absolutely hating a home that you will be living in for many years to come.