What Expecting Parents Should Know About Buying a Home

Family Buying Home Toronto

If you’re planning on starting or expanding your family, your current home may not be ready for the challenge. In fact, many expecting parents often wonder if their home is the right fit for their growing family. When it comes to purchasing a home for you and your children, there are a few things to consider, from the various components of the home itself to the neighbourhood it is located in.


What Elements Should My Home Have?

People often wonder how they can find the perfect house, each of whom has a different picture in their mind. Families are no different. When it comes to buying a home for your future family, common elements to consider are yard space, storage, and a functional floor plan.

  • Yard Space: There are many benefits to owning a home with a yard, especially for a family with kids. From the kids’ playtime to having space for any future pets, yard space is often a must for most families. When considering purchasing a home with a yard, it is important to ensure that the yard space is safe for children and pets. Factors to consider include the type of terrain, whether the fence is secure and reliable, privacy, and so forth.
  • Functional Floor Plan: No two families are alike, therefore it is important to find a floor plan that is right for you. Finding a functional floor plan can be difficult. You may need a separate playroom, a functional basement, bedrooms on the same floor, and so forth. However, as the family grows it is important that the home can grow with them and remain functional.
  • Storage Options: It is important to ensure that the new home has enough space for kids to play and store their toys. When considering purchasing a home, pay attention to any built-in storage, the number and size of the closets, and the size of each room for fitting additional storage furniture.


What Should I Know About The Neighbourhood?

When it comes to purchasing a home for your growing family, it is important to take the neighbourhood into consideration. Many parents and expecting parents want to live in a quieter setting with their family, settling in calmer urban areas, the suburbs, or even in a rural setting. Let’s take a closer look at what to look for when selecting the neighbourhood you will raise your family in.

  • Neighbourhood Vibe: It is important to get acquainted with the neighbourhood in which you will raise your family in. Therefore, exploring it prior to purchasing is crucial. What is the vibe of the neighbourhood? What type of people live in the neighbourhood? Are there any appealing amenities such as parks, community centres, and children-friendly restaurants? Is there a lot of traffic? Is there accessible public transit? These are just a few questions to ask yourself as you explore.
  • Safety and Crime: Keeping your children safe is important, which is why you must look for a neighbourhood with a low crime rate. It is good to check local crime rates and establish the best place to live. When looking at those statistics, pay close attention to what type of crimes are committed in the area too. For instance, downtown crimes are most likely assault and drug crimes due to the bar scene, whereas wealthier areas may have more thefts.
  • Child Based Facilities: Whether it is school, day care or even a nearby pediatrician, it is important to ensure that you have the best available for your kids. Some questions you may want to ask include: is the daycare on your way to work? Does the school require test scores? How far away is it from your home? Is your home on the bus route? Does the school offer advanced curriculum options, after school programs, and extracurricular activities?
  • Other Children: It is good to speak with your neighbours on whether or not there are many children in the area. For many families, the idea of having neighbours nearby with children makes it easier for children to make friends, and live a happier childhood.


What Do I Need To Know About The Future?

It is important to make a smart investment decision when it comes to your family home, whether you live there forever or choose to sell it. Ultimately, when it comes to uprooting a family, there are some difficulties such as switching schools, logistics, and so forth. Before even considering staying or moving, it is important to plan for the future. Two important factors to note are your budget and your family’s needs.

  • Budget: It is important to plan ahead, and understand the costs associated with owning a home. On top of that, it is important to be mindful of how much raising a family costs. Experts recommend that homeowners who are parents do not push their mortgage payments to the limit, without being able to set aside extra money each month for savings and unforeseen events or repairs.
  • Family Needs: Experts recommend that you should envision what it will look like over the next decade, prior to purchasing a home for your future family. This will ensure that all your needs are met throughout the years. For instance, as your family grows the kids will become more sociable, signing up for sports, clubs, and wanting to visit friends. Taking this into account is crucial, as the kids will need to be able to get to and from their destination. It is important to know your limits, and how much time you’re willing to spend driving.


Find The Perfect Home For Your Family with MortgageMeister.com

Working diligently to ensure you get the best rates possible, your local Toronto mortgage brokerage – MortgageMeister.com – is ready to help you get into a home. Speak to one of our mortgage professionals today to learn how you can find the perfect home for your present and future family needs.

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