Finding the perfect family home is one of the most important and exciting decisions a family can make. The right property can be a space in which to create lifelong memories and generate greater financial freedom.
According to Adrian Goslett, the regional director and CEO of RE/MAX of Southern Africa, finding the perfect home is a balancing act between lifestyle considerations, such as the house’s ability to adapt to the needs of a growing family, against financial ones like long-term returns and affordability.
“When searching for the perfect home, striking a balance between heart and head is vital. Families should choose a property that complements their current lifestyle and offers the flexibility to grow and change with them over time.
“At the same time, buyers must remain mindful of the long-term financial implications to ensure their investment remains sustainable and rewarding for years to come,” says Goslett.
What you need to know when searching for the perfect family home:
LocationYou can change the house, but not the location. Consider the schools in the area (from crèchs up to high schools) and think carefully about the commute to work, shopping centres, doctors, libraries and public parks. It is also vital to find out how the area might change over the next five to 10 years – is it an established or developing area, and what plans are there for development?
Future-proofingBecause it is a sizable investment, most families buy a home once every five to 10 years. That is why finding a home that suits your future and current needs is crucial.
Consider:
• Will you need more bedrooms or bathrooms as your family grows?• Will you need two separate living rooms when your children get older?• Is there space for a flatlet if your ageing parents need to move in?• Are there title deeds or zoning restrictions that could prevent you from changing or renovating when your needs change?
AffordabilityIf you are a younger buyer just starting a family, you often have the advantage of time. As your career progresses, your earning potential is likely to grow, making today’s slightly tight budget more manageable in the future. However, it’s crucial to find the sweet spot: buying a home you can realistically afford today, covering all the costs like bond repayments, insurance, maintenance and rates, while still investing in a property that can accommodate your growing family.
The goal is to balance ambition with prudence – buying a home that might initially stretch you but positions you for financial growth and personal stability later.
Finding the perfect family home takes time, careful thought and expert guidance. By keeping your priorities clear, thinking ahead and leaning on the expertise of a real estate agent, you’ll be well on your way to finding a home where your family can settle down and flourish.
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