Buying a Home With a New Family Member on the Way

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Buying a Home With a New Family Member on the Way

If you are expecting a new baby, this is one of the most exciting times in your life! There are likely many things you are doing to prepare for the new arrival. For some people, this means they may also be searching for a new home that will give enough room for the new baby.

If you are in the situation where you need to move, here is some advice to help you locate the ideal home for when the baby arrives.

Think About Your Future Finances

It is essential to create an accurate budget when house hunting. A mistake that many new parents make is that they will create a budget related to their current expenses and not take into consideration the extra expenses there will be with the new baby and the new home. You will have to buy diapers, changing tables, cribs, clothing, and baby food as well as pay for home maintenance, property taxes and increased utility costs. These expenses can quickly change your budget plans to the point where you may be unable to pay your mortgage if you do not account for them.

Also, think about your budget for those months during parental leave when you are receiving benefits. Make sure to plan when you fill out your application for leave pay when you stop working as you have to wait two weeks before receiving the money. 

Consider the Neighbourhood Features and Amenities

Don’t just consider how much space you will need to have inside the home for your family and the baby. Also think about the neighbourhood where you want to live. Will there be activities, playgrounds and events for your child to enjoy as they grow older? Think about nearby schools and other child services you would want to take advantage of as your child grows. Having all these amenities available after you move can make life easier for your family.

Decide on Whether or Not You Want to Deal with Renovations

While you may want to purchase a fixer-upper and then remodel the home so it is a better fit into your family’s lifestyle, remember that construction deadlines may occur during the time when the baby arrives. Having a house full of workers, construction noise, debris and dust can make the home situation stressful while taking care of a newborn. You may also have to leave the house while certain construction projects, such as plumbing or electrical work, takes place.

Sit down and decide on whether a fixer-upper home is the right property to purchase, and if you want to deal with the construction hurdles of cost and time when the baby arrives.

Don’t Rush into the Home Purchase

You may be having trouble finding the perfect home for your family, yet the day for the baby’s arrival simply can’t be put off. Don’t settle for the first home you see just to own a home before the baby is born. You may end up making a mistake and purchasing a home that is missing crucial features or doesn’t suit your lifestyle.

If you are under a time crunch, it may be best to wait until after the baby arrives. Then you can take your time and select the right new home that you will be happy with for years to come.

In the end, however, this is the #1 piece of advice: Start working with a real estate agent as soon as you can, and explain your situation and timelines. Your agent will be able to take a lot of stress off your shoulders, so you can spend more of your time preparing for the big day.

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