- The Savvy Promise
Navigating the property market to find a home that will meet your needs can be tricky, especially when you are looking for a property that will grow with your family. Considering your family’s needs and the home features can make you be on your way of finding a home that will grow with your family. Here are six tips that can help you find the right home.
1. Spacious living
Space can be a major factor when it comes to finding a home that can grow with your family. This is usually top of the list for family’s that are looking for a property that they can grow with. Check to see if the property has enough rooms for a growing family. A house that comes with a backyard or a yard in front can be great for your children to play in, but also check that there is enough space.
2. Storage
More Aussie families are finding themselves taking up apartment living due to the high property costs. According to the Australian Bureau of Statistics, 44% of people who stayed in apartments were families. Storage can be an issue especially when you have children, which is why consider if the property has adequate storage space or if you will be able to purchase smart storage furniture for it.
3. A family friendly neighbourhood
Where you choose to stay can either give you serenity or mess with your sanity. If you are planning on having children or already have children, it is vital to check if the neighbourood will be a conducive area to live in. Having a house that is close to all the important amenities such as schools, shopping centres, transport, and medical facilities can be a worthwhile investment. You may find an issue if you choose a property in a noisy area.
4. Is the layout suitable
Before buying a house have a look at the layout, especially if you have toddlers. Open plan properties can give you a good view of the house at all times which also means that you will be able to spot your child more easily. Having bathrooms close by to bedrooms can be beneficial, especially if you have elderly parents who will be stopping by often.
5. Does it have security features
Protecting your loved ones is the most important thing, which means finding a house that can provide you with such features. If the house doesn’t come with such features then it is worthwhile to consider the cost of installing security around your home.
6. Affordability
Purchasing a home comes with a range of expenses that need to be carefully considered. Before getting a pre-approved home loan it is essential to check if your budget will be able to handle the cost of owning a new home. Using a loan calculator can give you an estimate of how much you will be paying over the loan term. It can also let you know if the interest rate is affordable for your budget.
Speaking to a financial advisor is also helpful when it comes to finding something that is suitable for your finances. Remember to look out for the interest rate, ongoing fees, and charges that come with it.
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This guide provides general information and does not consider your individual needs, finances or objectives. We do not make any recommendation or suggestion about which product is best for you based on your specific situation and we do not compare all companies in the market, or all products offered by all companies. It’s always important to consider whether professional financial, legal or taxation advice is appropriate for you before choosing or purchasing a financial product.
The content on our website is produced by experts in the field of finance and reviewed as part of our editorial guidelines. We endeavour to keep all information across our site updated with accurate information.
Approval for home loans is always subject to our lender’s terms, conditions and qualification criteria. Lenders will undertake a credit check in line with responsible lending obligations to help determine whether you’re in a position to take on the loan you’re applying for.
The interest rate, comparison rate, fees and monthly repayments will depend on factors specific to your profile, such as your financial situation, as well as others, such as the loan’s size and your chosen repayment term. Costs such as broker fees, redraw fees or early repayment fees, and cost savings such as fee waivers, aren’t included in the comparison rate but may influence the cost of the loan. Different terms, fees or other loan amounts may result in a different comparison rate.