Your New Family Home
At some point, most young families will envision moving out of their current home to upsize to a bigger home when they have another child/children. However, choosing the right home can be difficult as many considerations come into play, such as location, interior layout, storage etc.
You may even be a couple expecting your first child, looking to move out of your one-bedroom flat for more space. But the question is, do you move to a two-bedroom home that suits you well now or bite the bullet and buy a four-bedroom home if you envision having more children later down the line? Finances will be key; you could look at finding a two-bedroom home now (with room to extend/move out again when you feel you’re ready to upsize again) or opt for a larger home which is future proof.
Think carefully about the layout. For example, families aren’t too keen on three-storey townhouses with bedrooms over three floors – so that is something you may wish to consider before viewing a home.
Location, Location, Location
When moving home, you’ll want to check the schools around the area along with their catchment areas. Some families may even move solely to be closer to a particular school they wish for their child/children to attend.
Many catchment areas are tiny, making it challenging to find a home within. Therefore check this before you start searching, so you know the exact locations you are looking in, rather than wasting your time viewing a home that is not within the catchment area you want to be in.
You should also check the location for transport links, shops, restaurants, green spaces etc.
Are you a Family on One Income?
In many cases, families may be living on one income due to one parent looking after the child/children. This may work for some families as they may still be financially stable, but others may struggle. Speak with an independent mortgage advisor to see what you may afford beforehand and go from there.
Have you Considered a Bridging Loan?
If the finances are a struggle as a family, you could look at getting a bridging loan. A bridging loan is a type of short-term financing used to purchase a home. It helps you ‘bridge’ the financial gap between selling your old home and buying a new one. If you’re having trouble finding a buyer for your present home, a bridging loan might allow you to move into your new home before selling your old one. If it does enable you to move into your new home before selling your old home, you will essentially be chain-free too, which will be more attractive to sellers, and you will have a better chance of securing the home you want. But be careful bridging finance can be expensive. Again, speak to an independent mortgage advisor.
Preparing Your Home For Viewing’s
If you are selling your home to move, it can be a complex process when you have a family. Viewing’s could be scattered around the place, making it hard to plan your days around it. However
, a good estate agent will accompany all viewing’s and structure the process, so they are conducted in blocks and for a particular day/time, whenever works for you. This will also increase the desire for your home as viewers will most likely see each other if viewing’s slightly overlap, increasing the urgency for them to offer quickly, knowing that there is a lot of competition. People want what other people want. It’s all about FOMO!
Remember, the home doesn’t have to be perfect for viewers (that’s not me saying leave it messy). You live there, and it would be difficult to leave your home looking like a show home, especially when you have children and probably lots of toys! So make it as tidy as you can, but don’t worry too much about it. Viewers want to see the space; they won’t be looking at your belongings.
You have exciting times ahead. Good luck!