How Family Structure Should Sway a Real Estate Investment

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Anything in life can inspire someone to move onward into a new house. Whether it’s a career change or a new child, people enter and exit the real estate market more frequently than one would imagine. Owning, building, renovating with a company like AnyWeather Roofing and deciding on a new house are part of the American Dream that’s been established in our country for a long time and it’s an exciting opportunity for those fortunate enough to go through it.”

real estate investmentReal estate is extremely expensive, however, and it’s imperative that people make a calculated decision when choosing a property that could influence them for the rest of their life. Some feel pressure to jump at the first opportunity they see, while others simply make an errant decision on the best suited house for their needs.

Due to the volatile market fluctuation here in 2013 and the magnitude of a real estate investment, it’s becoming increasingly important to focus on family structure when deciding whether or not to sign on closing day. Below are ways to assess your family when considering a property acquisition if you’re in a situation that involves children. It could save you some serious money down the road.

Age of children

The age of children is a big deal when a house is concerned. If you have two twin toddlers, it may not be idyllic to target a house with only two bedrooms. A main reason is that although many people do share rooms, as the children grow up into teenagers they will most likely want their own space.

Additionally, it can be very expensive to add an extra room to a house and sometimes it’s more financially efficient to buy a house with an additional space rather than carrying out such a monumental renovation.

Actionable: If you have children and are playing the real estate game, make a conscious effort to really assess the age of your young ones. Not only can it save you money, but it can prevent you from making repetitive housing changes later down the road. Anticipation is key with such a big decision, and understanding where your children fit into your real estate plan is part of that.

The school district that a house falls within

It may seem overrated at first sight, but it’s imperative for prospective homeowners that have children to consider the school district that their lot will fall within. It can change the entire course of your child’s life if they end up in the wrong school. It’s in your best interest as a parent to set your family up for success by implanting yourself within a great school district. Not only will it be beneficial for your family, but it will also help your house appreciate resale value in the case that you sell at a future date.

 

Actionable: Quality education for your children is essential and the house you select will have something to do with it. The school district is important as well because as population grows, it will be more and more difficult to find a house in a neighborhood that falls in the most progressive school system. Make your decision include this thought the first time around and you’ll be rewarded later on.

Proximity to your job and hobbies

Actionable: Take a hard look at any potential house and try and decide if you think it presents itself as a place where your family life would be a top priority. The home shouldn’t be too far from work, local schools or commonplace activities you will be partaking in. It’s hard to find a house proximal to your immediate needs as a parent, but it’s a wise choice with this scale of investment.

Real estate is up there with the biggest transactions people will ever make. Children should play a big role in the investment because they are practically involved in the actual property and the way it will help your life function day in and day out. These ideas are meant to be applied to your situation with the goal of helping you when the time comes to scan the listings.

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