As you begin to search for your new home, consider this a great opportunity to teach the entire family about the listing and buying process. There will be ups and downs, twists and unexpected turns of events which makes buying a home a wonderful lesson for the children. Sure, they will probably be more excited about decorating their new home than actually what it takes to buy a house but they might take away some important lessons in life. Through preparation, planning and buying, you will be able to explain to your child the importance of buying a home and what goes into it beyond moving all of your stuff.

This is a great time to teach your child the difference between needs and wants, about finances, about what to look for in a home, etc. You can explain to your little ones that while you may want three bathrooms, you don’t need it for the cost increase. There is a big gap between what you want and what is actually in your budget. Explain to your family that needs versus wants goes beyond buying a home and they can use this notion in their everyday small purchases.

Saving your pennies and doing so early can put you ahead in the game. Explain to your children that it is never too soon to begin saving their allowance, even if they really want a new Lego set. By saving early, they can purchase something much bigger and better down the road, just like you have done with your new home!

One big take-away your children can learn from buying a home is do your research. Whether it’s in school, when they buy a car or choose the college they wish to attend, putting in the work to explore your options is a wonderful way to get the most out of your time and money.

Take them with you when you go to look at houses and explain the process a bit. Let them be involved in small decisions and encourage them to look at the bigger pictures. While one home might have a really big bedroom, there is no room in the yard for a swing set. Small things like this will encourage them to begin thinking differently.

Down the road, your child will look back and remember these lessons when making important decisions. They also will feel included in the decision on the new house which is a wonderful feeling for a child. When you are ready to teach them the lessons of home buying, give me a call. I am always happy and ready to share my knowledge and experience.