Back in the day, when buying a property, people would focus more on the size of the land and getting the most favorable deal. However, nowadays, purchasing a property involves many different factors that need to be satisfied first, before a modern family decides to buy their forever-home.
Some of these factors include catering to every family member’s needs, as well as having the future in mind. Today’s home buyers even go as far as to consider hypothetical situations before making their final decision, which is definitely not something that could be said for the previous generations.
Changes in property-decision making
In earlier times, especially in the ‘50s, men were usually the ones who were the money makers and whose job was to provide for their family. Therefore, it’s no surprise then that they were most commonly the ones who were in charge of making any and all decisions regarding purchasing a property. However, nowadays, the gender roles are completely blurred which means that today, this decision falls on both partners equally. Regardless of the fact whether a modern woman is bringing income to the family household or if she’s a stay-at-home parent, she has an equal say when it comes to making such an important decision. And not only that, but even the kids nowadays have some say in the matter, at least to a certain extent.
Everyone’s needs are taken into consideration
Furthermore, when purchasing a property in this day and age, everyone’s needs come into play. For instance, a modern Australian family will be looking for houses located in the up and coming neighborhoods, with schools, shopping centers, various services and attractions nearby. That’s why real estate house and land packages in Austral are increasingly being sought after, as this suburb on the rise not only offers amazing properties, but it also has all the necessary amenities nearby.
Future-oriented decisions
When buying a home, the modern family tends to base their decisions on their potential future needs as well as their current ones. What this means is that a young family buying a home will look for a property that will allow them to easily grow their family, as well as a property that’s located near all the amenities a family with children might need, such as schools, hospitals, day care centers and playgrounds. Additionally, aside from the house itself, people tend to look for properties that have opulent backyard space, so that they are able to – if one day necessary – expand their living space. Properties that have enough room for a granny flat or that can easily be expanded upwards are among the most popular ones.
Budget also plays a huge role
Modern families are more prone to determining the budget beforehand and doing everything in their power to stick to it. The reason behind this is the fact that young families nowadays understand just what it means to buy a property, especially in this market. So, when determining the budget, they take into consideration the fact that it will affect everything – from their monthly to their daily budgets, as well as their overall financial situation for many years to come. Also, people nowadays also consider the fact that a larger home will be significantly pricier to maintain and power, which is why they generally tend to go for smaller and cozier properties.
Single-family home ownership is no longer the main goal
Finally, it’s important to note that a single-family home ownership is no longer being strived towards as it used to be. More often than not, you can hear about joint families living together in a single property. A few reasons behind this could be the fact that properties are generally very pricey nowadays, so not many people are able to afford them on their own. Additionally, since the majority of modern parents are both working individuals, it brings forth the need to hire a full-time babysitter. This is another thing that can be written off the list in case you’re living with a family member that can step in and take on this role.
The way modern families approach the matter of becoming homeowners is definitely very different from what it used to be. Today, everyone has their say when it comes to making such a huge financial – and life – decision, which certainly was not the case just a few decades ago.
