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10 Things to Consider Before Buying Your First Home


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Children
If kids are in your future, proximity to good schools should be a consideration in your home search. ©Comstock/Stockbyte/Thinkstock
If kids are in your future, proximity to good schools should be a consideration in your home search. ©Comstock/Stockbyte/Thinkstock

Do you have or are you planning to have children? If so, you'll want to consider the school district and neighborhood before buying. In fact, even if you don't have children, it's smart to consider the school district.

According to a survey, 20 percent of buyers said they would pay 6 to 10 percent over their budget for a home in the right school district [source: DeBord]. Of course, this means as a buyer that you may have to pay more for a home in a good school district. On the other hand, when you go to sell that home, you're likely to make more on the sale than if it were in a less desirable district.

Even if a school district is a major consideration when buying a home, don't forget about other factors that can be important if you have or plan to have children. Take a look at the neighborhood. Is it family friendly? Does the street have a lot of traffic? Is there a playground? A swimming pool? Are there sidewalks? What about other kids? Keep all of this in mind if you're planning to raise a family in your new home.


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