Buying a Family Home On A Budget
Buying a home is a stressful endeavor for most people. It can be even more so if you are on a tight budget.
The following are three aspects of the moving process where you can save money.
1. Choosing a Home
A home is likely to be the biggest purchase you make, and your mortgage payment is likely to comprise a large
share of your monthly expenses, so it is very important to stay within your budget. First, determine how much you
can afford, and consider situations in which your budget may be flexible.
If homes in your desired area are out of your price range, look at the neighborhood’s fixer-uppers. Data show that
fixer-uppers are generally less expensive than their move-in-ready counterparts. However, it is important to have a
thorough inspection to catch any major problems before you purchase the home. Generally, cosmetic changes are
less expensive than structural, electrical, or plumbing work.
Check the prices in other locations. If the homes are more affordable, decide if you could make the area work. If the
area is farther from your job, switching to a more fuel-efficient vehicle may make the commute more affordable. If
the school district doesn’t perform as well as you would like, keep in mind that there are many ways to improve
your child’s public school experience no matter what district you live in. For example, the local library or
community center may offer enrichment experiences to enhance your child’s education.
2. Packing and Moving
After you have found the right home for your family, it is time to pack up everyone’s belongings and transport them
to the new house. This can be expensive, but there are quite a few ways to save money during the moving process.
Ask friends and family to save their delivery boxes for your move. Do as much of the work you can yourself. If you
do hire movers, always get a quote beforehand. Donate, sell or discard the items you don’t want to take to the new
house so you don’t have to waste money and time packing them up.
3. Getting Settled
After the move, it is time to settle in. Unpack your boxes and get everything organized. If you need any furniture or
accessories, visit yard sales, social media marketplaces, and thrift stores. Do your best to get on a routine at the new
house promptly.
Take your kids to visit their new school and meet their teachers before their first day. Plan out your route to work.
Familiarize yourself with the layout of the neighborhood and city. Browse the local stores. Find doctors for everyone
in the family, including pets.
The trickiest part of moving may be making friends. Be friendly toward everyone you meet. Use apps to find
individuals with similar interests in your area. If you moved back to your hometown and haven’t kept in touch with
your old classmates, use the internet to reconnect. Often, a quick search of the school's name and graduation year
will yield multiple results. Don’t forget to help your kids make friends. For little kids, this may mean setting up play
dates and demonstrating pro-social behavior. For older kids, encourage them to explore their interests and find
groups that share those interests.
Moving is often a big change. It can be stressful and expensive. With a little planning, it is possible to make the
experience smoother for all involved without over-spending.
Special thanks to Andrea Needham of Eldersday.org for this excellent article for our website.
Contact: a_needham@eldersday.org