We do a lot of our children. From providing a strong education to exposing them to a wide variety of cultural experiences, the goal is to give them the best life possible. Unfortunately, there are some decisions we make that can actually undermine their (and your) happiness.
Buying More Home Than You Can Afford
Think bigger is better? When it comes to your home, that’s not the case. Buying more home than you can afford can put undue stress on your monthly budget. This can take away money that you might have otherwise spent on things like sports equipment, music lessons or summer camp. It might even cut into your babysitting budget, meaning fewer date nights for you and your other half.
Buying too much Home
You might dream of four kids, two dogs, and a cat. But until you have a big family, you don’t need a huge house. Often, buying a bigger home means a bigger mortgage payment, longer commute or combination of both. Make sure you think about how the home you’re buying will impact you and your child’s quality of life. If you spend all day traveling to and from work or you can’t afford to actually go do anything, it can be hard to bond.
Buying a Home with ‘Child Sized’ Features
Your toddler may love having a sink that doesn’t require a step stool. However, he or she probably won’t like that short sink quite so much when they’re teenagers. The same is true of a short toilet or special door to your bedroom. When you buy a home with child sized features, think about the long-term impact they will have on you and your family. Child sized features can also affect the resale value of your home, should you think about moving.
What homebuying investments are good for your kids? Talk to Dan today.