I turned my recent radio show segment on home buying tips for families into an article for Parent Map featured here.
People are staying in their homes, especially their first homes, longer then they originally expected and home buyers need to understand that their housing needs are going to change over time as your family make up changes. Typical first time owner might be in their house for 5 years. Now it might be 5-7 years or even longer.
What may be a good fit home a single person or couple without kids may not be the best fit once you have your first kid, then possibly another, etc.
Also note that a home that may be a good fit with young kids may not be a good fit once your kids are older. This is the experience my wife and I had.
There is only so much long range planning you can do and a home to fit all stages of your family’s life may be tough to find but thinking about some of these tips ahead of time may save you regret down the road. Tips below are in no particular order.
1) Schools
- Hard to think about schools before you even have kids and is difficult to know which schools might be a good fit for your kid before you get a better understanding on what type of student they will be. Very challenging to find a home, especially in Seattle, with great elementary, middle and high school options from K-12
- All other things being equal b/w two similar homes the home with the better neighborhood school will have better resale value even if you decide not to send you kids to that school
2) Stairs
- Stairs to the home and number of floors within the home.
- Hiking up 1, 2 or 3 flights of stairs may be no problem if its just you but try to envision lugging up a car seat, stroller or multiple bags of groceries with a kid or two in tow
- Valuable if the home has a level entry point off an alley way so you can just pull in and unload
3) Basement
- A basement may be a priceless play space when kids are older and for other uses but not as valuable with younger kids who still require supervision
- Better to have a family room/ play space off the kitchen you can where you can watch the kids play while you are preparing meals or doing other home related tasks
4) Yard
- A home doesn’t have to necessarily be a large yard. A space for a swingset, trampoline or a kiddie pool for those 4 weeks of summer we have may be enough especially if you have great parks nearby.
- Preference that yard be relatively flat, fenced
- Bonus if the yard can be easily accessed/viewed from the kitchen so again you can watch the kids while you are doing other things
5) Bedroom/Bath Configuration
- Funny that when kids are younger parents want their kids bedrooms as close to their bedroom as possible and, in most cases, on the same floor. As kids get older parents are more comfortable them possibly being an different floor. Then there comes a tipping point when its actually the kids that want to be as far away from the parents as possible. A lot of young families look for at least 3 bedrooms on the same floor.
- Many parents also appreciate having a separate bathroom for the kids as they get older
6) Laundry Space
- Many families like having the laundry on the same level where they do most of their folding, etc. Bonus if this is on the same floor as most of the bedrooms.
7) Open Floor Plan
- Too many nooks and crannies for kids to hide or don’t want to be yelling at the top of your lungs to let the kids know that lunch in ready. Open floor plans can help. Newer construction homes (think mid-century and forward) and recently remodeled homes strive for this feel b/c it appeals to families.
8) Walkable Neighborhood
- Close to parks, other families, restaurants, shopping, schools, a neighborhood with sidewalks, etc. walkscore.com is a great resource for determining the walkability of a neighborhood.
9) Closets/Storage Space /Garage
- FYI that kids come with a lot of stuff and you’ll want a place to store it all especially if you have more than one kid
10) Tap Into Your Network
- Talk to your friends with kids about whats important to them. Leverage various, especially local, parenting blogs and list serves for other people’s experiences though take opinions about specific neighborhoods and schools with a grain of salt since many folks are obviously a little biased towards their choices.
Includes Ballard, Fremont, Green Lake, Greenwood, Phinney & Wallingford- Average single-family sale price of $435K for Sept 2011 dipped slightly from Sept 2010′s $440K but was down significantly compared to Aug 2011′s Average price.
- Median price of $401K last month compared to $415K Sept 2010.
- Days on market for Sold homes down from 51 days in Sept 2010 to 37 days last month.
- Inventory remains tight with just a little over 3 month supply on the market.
Detailed neighborhood stats in chart format for all of North Seattle available at http://www.live206.com/seattle-area-market-update-c21537.html
Nothing like keeping families on the edge of their seats regarding where their kids will start school over the next couple years
Reduced inventory and continued low rates resulted in more sales and overall price stabilization for most North Seattle neighborhoods.Inventory levels generally favoring home sellers with muliple offers on competively priced homes in popular neighborhoods on the rise.
North Seattle Home Prices
August saw one of the highest monthly number of Pending and Sold homes over the last 12 months. Sales were a good mix of first-time home buyers as well as current home owners moving up in the market to take advantage of the great rates.
More detailed neighborhood stats at
http://www.live206.com/seattle-area-market-update-c21537.html
Multiple offers, no inspection contingency, $30K over list price and a very, very pleased home seller : )
Prices, Inventory levels and Time on Market trends continue to favor home sellers in NW Seattle which includes Ballard, Fremont, Green Lake, Greenwood, Phinney & Wallingford. Click here for more detail and charts.
Prices, Inventory levels and Time on Market trends continue to favor home sellers in Northeast Seattle which includes Laurelhurst, Maple Leaf, Ravenna, University, View Ridge & Wedgwood. Click here for more detail and charts.
A recent article I was interviewed for with the Queen Anne and Magnolia News. Still expecting 2011 to be a tough time for home sellers in these neighborhoods.
