The saying ‘never settle for second best’ couldn’t be truer when it comes to buying the family home. While the needs of families naturally change over time it’s not always viable to renovate or move house every couple of years – which is why finding the right home is so important. It’s one of the biggest financial decisions you’ll ever make and house hunting can be incredibly time consuming if you don’t know what you’re looking for.

Most buyers know the style of house and the neighbourhood they want to live in, but there are other features to consider before signing on the dotted line.

Here are my top features to look for in a family home:

Backyard or nearby park

Remember the days of playing backyard cricket, running through the sprinklers, playing with pets? Many of us have fond childhood memories of playing in their backyard and want to relive these with their own children, and it’s important for the kids to have space to play outdoors. Look past the size of the backyard and take note of the opportunity to make the space your own – whether that includes an alfresco dining area, planting a veggie garden or simply secure fencing to keep the family dog at bay. But if a backyard isn’t on the cards, consider properties in close vicinity to a public park where the kids can run around and kick the footy with the neighbours and friends.

Room to grow

If you think there might be an addition to your family sometime soon, plan for a little extra room. Buying a home that’s too small for your family will leave you constantly trying to make the space work for you.

Look for bedrooms that allow two beds to fit (in the case of multiple children), and room for a home office to transform into an extra bedroom for the teenage years if siblings are no longer willing to share spaces.

Multiple bathrooms

We all know the frustration when your hot shower is interrupted with knocks on the door from impatient family members, or when cold water suddenly streams out because you’re third in the queue. A home with several bathrooms and a good hot water system should be one of your top priorities when looking for a family home in order to save time in the morning and avoid the arguments over who gets the first shower.

Proximity to schools

Living near primary and secondary schools is a logical priority as it can help save on the transport costs and time spent commuting in the before and after school traffic. It also means the kids can be close to their friends and be part of the community.

But there’s another benefit to living within school districts – they typically produce more capital growth and keep their value when the property market is in a down cycle. For example, property prices for homes within top Victorian government school enrolment zones rocketed up to 32 per cent over 12 months in 2015. You can’t deny that’s a good figure!

Unlike costly additions such as pools or tennis courts, these features will improve the functionality of not only your home but your daily lives for years to come. They’ll also hold their value over time. When looking for your next property be sure to write down your top priorities and stick to them. A home isn’t a purchase that’s easy to hand back if you decide it’s not for you.