Circumstances change in life but one of the most monumental changes is having children. And while your living arrangements may suit you now, as your family grows, your home requirements will grow, too.
And Australian families are growing!
The national estimated resident population soared to 23.1 million people in June 30 2013, marking a 1.8 percent increase on the previous year, according to the Australian Bureau of Statistics.
If you find yourself contributing to the population growth it may be time to reassess your current home, look at your home loan options and start preparing for the next stages of your family life.
Future proof your home
When you’re accommodating for a growing family, there will be particular features to look out for. Investing in a property now that will suit the whole family in coming years is a smart idea, not least because Australia’s booming population will boost demand for dwellings.
Look at buying a home in an area that has low crime rates, excellent health and education systems and reliable road and transport options. For instance, investigate the local primary schools, but check out the high schools in the area also. By looking to the future, you’ll be prepared for the changes that a growing family can bring.
Count the bedrooms
One of the most important things to do when taking out a loan and buying a family home is to observe how much space a property has.
For one thing, you should look at buying a property with at least one extra bedroom than existing family members. If another child comes along, you won’t have to sell up and buy again.
However, if you don’t have more kids, this area can be used as an entertainment zone, guest room, kids’ playroom or home office.
Smell the flowers
Families could look for homes with ample yard space, in order to give children plenty of opportunities to run around – a big plus during the hot Australian summers.
However, extensive yard space can come at a cost. You don’t want your savings account to suffer thanks to hefty mortgage repayments, but it’s understandable if you want the kids to enjoy the outdoors.
An alternative is to buy a home with a limited backyard, but with close access to public parks. In such an instance, you may be able to secure a home in a desirable area, even if the lot size isn’t as big as you’d like.
Search for smart storage
Another feature that’s essential for a family home is smart storage. You’ll accumulate seasonal clothing, furniture, linen, toys and plenty more — but where’s it all going to go?
Look for homes with overhead shelves in the laundry, under-bench storage in the kitchen and built-in wall storage in the bedrooms.