How to Choose the Right Single-Family Home for Your Family

Key Takeaways

• A single-family home is a free-standing property that’s been specifically designed to accommodate one family. 
• A single-family home offers greater privacy and space. It may even provide long-term flexibility.
• Before you begin exploring your options, define your “must-haves”:
  • bedroom count
  • yard size
  • school district
  • commute
• Location matters as much as the home itself. Evaluate nearby amenities and how the neighborhood feels. Can you see yourself living here comfortably in the long-term?
• A local agent can help you evaluate single-family homes for sale more efficiently. This will also help you balance your current needs with future value.

Finding Your Forever Home as a Family

Diving into the real estate market is always daunting and rarely easy. There’s a lot to weigh, and it can be hard to quantify what you’d even like, particularly if you’re looking for a single-family home. You’re probably also fielding a bunch of (often unsolicited) advice from friends, family, colleagues: the works. 

If you’re a first-time home buyer, this entire process can feel like it has a lot more riding on it. You’re learning on the job and making a pretty big commitment. Our team at Excelsior Realty has spent nearly two decades helping families across the Lake Minnetonka area find homes that fit their needs. If you’ve been browsing homes for sale in Excelsior, MN, or exploring nearby communities, we’ve got a no-frills guide to finding your forever home. 

What Constitutes a “Single-Family Home”?

A single-family house is a free-standing residential property that’s been specifically constructed for one household. Houses like these will have their own lot, yard, and entrance. Unlike a townhome or condo, a single-family house does not share walls with a neighbouring unit and therein lies the biggest advantage. With a single-family home, you naturally have more privacy and control over the property itself.

In our experience, families tend to gravitate toward single-family houses when they’re ready to put down roots.

What to Look For in a Single-Family Home

Before you even start visiting single-family homes for sale, you’ve got to formulate a plan. Be specific about what your family will need in an ideal situation and settle on your non-negotiables and nice-to-haves. Here’s what to evaluate when choosing a single-family home:

1. Bedroom and Bathroom Count

Think beyond your current household size. If you are planning for more kids, aging parents moving in, or a home office, you may want to look at properties with extra room rather than one that fits your family in exactly as it stands today. 

2. Layout and Flow

There’s no good or bad house layout. A house with an open floor plan is great for families with younger children. Other families may prefer dedicated rooms and nooks to separate study or work spaces from living spaces. How does your household function and is there something that’s missing in your current layout? Let that feeling guide your layout preferences.

3. Yard and Outdoor Space

Your own outdoor space is a major advantage of single-family homes. Think about how you want to use it and how important it is to your lifestyle. You may want space for children or pets, a garden, or simply a well-maintained outdoor area. Let these needs guide your choice of the yard’s size and shape.

3. Storage

Storage space is especially important and can be a major upgrade when moving from an apartment. A great one-family house with nowhere to store winter coats, snow gear, sports equipment, lawn tools, and holiday decorations can quickly become a real hassle, especially through long Minnesota winters.

What to Consider About Location When Buying a Home 

Location affects your daily routine and the long-term value of your home. Here’s what to evaluate in the location when buying a single-family home:

School Districts

Even if your kids are not yet school age, buying in a strong school district tends to support long-term home value, and it saves you from having to move again in a few years.

Commute and Convenience

Think about your regular commute, along with proximity to grocery stores, parks, and activities your family already relies on. If the property is significantly far from your place of work and essential amenities, ask yourself if that’s something you’re willing to work with.

Neighborhood Feel

Drive through a neighborhood at different times of day before you commit. Some areas feel completely different on a quiet weekday morning versus a busy Saturday afternoon. Think about whether the neighborhood supports your way of life and you can see yourself building a community within it.

How Much Should You Budget for a Single-Family Home?

The cost of a single-family home is not just your future mortgage payments. Here’s how to account for the ongoing costs of owning the property.

Calculating Your Total Monthly Housing Costs

Your home buying budget should include:

• Mortgage payments: The interest you’re paying on your home loan.
• Property taxes: Yearly taxes that can change pretty significantly by location.
• Homeowners insurance: The cost of protecting your home and belongings.
• Utilities: Regular expenses such as electricity, water, and heating.
• Maintenance and repairs: Costs for routine upkeep and unexpected repairs.

Excelsior Realty Tip: Older properties may require more maintenance than newer builds. So consider whether you are comfortable taking on those additional costs.

Pre-approval also gives you an explicit idea of how much you can afford before you start touring homes. You can search for properties within your realistic price range and strengthen your position when you are ready to make an offer.

Work With a Local Team Who Knows the Market

Scrolling through listings gets old pretty fast. You have to approach the home-buying process with a little nuance. A single-family home can mark an exciting new chapter in your life, and finding your forever home becomes easier when you understand the local inventory, buying trends across neighborhoods, and what homes are actually selling for.

Excelsior Realty has been serving families across the Lake Minnetonka area since 2004. We believe in walking away rather than forcing a deal that would not deliver the best outcome for our clients. Our team can help you find a single-family home that meets your needs and gives you that unmistakable feeling that you have found the right place. 

Contact Excelsior Realty today, or browse current homes for sale in Excelsior, MN, to see what fits your family best.

Frequently Asked Questions