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Things to Consider When Buying a Family Home

By Kathleen Woodell, Branch Vice President of Coldwell Banker Residential Brokerage’s White Marsh Office

For many people, finding a new home is more than a matter of personal taste and individual finance – it's a family affair. Certain factors are very important to consider when buying a home with family in mind:

1. Proximity to extended family. Nearly half of homeowner respondents in a recent Coldwell Banker® survey said they live less than 10 minutes from extended family members, and 72% reported living within 30 minutes away. Buying a home that is close to family members can provide great emotional and financial benefits.

2. Surrounding neighborhood. A neighborhood looks different from the eyes of a parent. It’s wise to get an idea of what the neighborhood offers for children, such as local recreational centers, parks or playgrounds – as well as the school system – before deciding to move there.

3. Existing floor plan. Each family has its own unique dynamic and should take its distinctive needs into consideration when exploring different floor plans. Ask yourself, does this kitchen suit our needs? Do we want an open floor plan to keep an eye on the kids, or do we want some separation? Does the home have a place for the kids to play?

4. Future lifestyle needs. Make sure the home you purchase leaves growing room and will still fit your family’s needs a few years down the road, especially if there are plans for more children.

5. Budget. This is one of the most important considerations, as a growing family usually means a growing list of expenses as well. Estimate monthly expenses along with a mortgage payment to ensure all financial commitments can be reasonably met.

Get the facts and advice you need from one of our Coldwell Banker Residential Brokerage sales associates at our conveniently located White Marsh office at 7939 Honeygo Boulevard or call 410.931.9000. Visit CBmove.com to view all properties currently for sale in the area.

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