Buying a home when you are already a parent and when you are not may come with different requirements. Factors such as the proximity of schools, amenities, recreational facilities, the type of property which would house all the family members harmoniously need to be considered.
1. The type of property
If you have a few children or you are planning to grow your family, chances are you will need a house with enough rooms to accommodate everyone’s privacy. Whether it would be more convenient to live in a condominium with all the facilities present or a landed property for ease of handling the children from the car to the doorstep should be considered. If you are just starting out, smaller units with two rooms at 1,000 sq ft could save you a lot of home maintenance too. There is no pressure to acquire the “best” home to suit everyone’s needs because an ideal home for one is not the same across the board.
2. New cool or old charm?
If you are opting to buy a secondary market property, be prepared to fork out additional costs for renovations and they will most likely be major ones which could cost quite a bit. For new homes, the upside would be minimal renovations are needed if you are not picky but word has it that the materials used nowadays may not possess a similar kind of quality as in the past.
3. Location, location, location
The magic mantra which still remains relevant to this date. Make sure your home is near to schools and education facilities because the last thing you want is to travel an hour each day back and forth from commuting to school. Amenities such as tuition centres, groceries, laundrette, book shops, restaurants are essentials you should look at.
4. Setting a budget
No doubt as parents, we want to give our best to our children, but always make sure to set a budget to avoid not being able to repay our monthly commitment later on. Start small by getting a home first, then slowly work on furnishing it.
5. Inspection of defects
Make sure you check the home thoroughly first before you put down the down payment. This is especially for secondary market properties as structural defects may be a big issue later on. For primary market properties, do a background check on your developer and make sure they have a good track record. Research on forums about their previous projects and read the feedback from the previous purchasers.
6. Looking into the future
Last but not least, can you imagine living here? Do you foresee your children being happy and content here? Do you have peace in your heart when making the decision? Remember that an ideal home differs for each individual. Always make the decision based on what suits you at that time!
[Image source: People photo created by tirachardz]
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