Are you looking for a home your children and pets will enjoy? You’re not alone. Many people make home-buying decisions on the needs of not only their children, but their pets, too.
Surveys show that home buyers with children are looking for homes near quality schools, with child-friendly amenities and enough elbow room.
According to the National Association of Realtors, nearly half of all home buyers who have children consider the quality of the school district in which a home is located as being a priority in the home search process. Forty-three percent said a close proximity to neighborhood schools was important.
The study also found that buyers with children tend to purchase larger homes — an average of 2,100 square feet with four bedrooms and two full bathrooms. Those with no children living with them purchased homes with an average of 1,800 square feet with three bedrooms and two full bathrooms.
According to the study, children affect the home buying process in other ways. For nearly one-quarter of all buyers with children, the cost of child care delayed the home buying process and ultimately led to compromises on the price, style and size of the home purchased.
Like children, pets have a substantial impact on home searches as well. Eighty-percent of surveyed Americans said that pet-related factors played a role in their housing choices.
It probably comes as no surprise that 99 percent of pet owners in the survey said they consider their pet to be part of the family. About 89 percent of respondents said they would change their living situation before getting rid of their pet. Of those surveyed,12 percent of of pet owners said they already had moved to accommodate their animal.
In addition, 52 percent of respondents said they had completed a home renovation project specifically to accommodate or make life easier for their furry (or feathered) friend. Top pet-related home improvements included installing outdoor fencing, easier-to-clean laminate flooring and pet doors.
We have a variety of loan options to help you meet your home buying goals. Let us help you find the right loan for you and your family.