Parents of minor children are more likely to compromise to stay within their budget, go over their intended budget, or otherwise make sacrifices to get a home, according to an analysis by the real estate site Zillow. At the same time, parents were more likely to have a clear idea of their preferred home and neighborhood features, and were slightly more likely to be satisfied with the property they purchased.

In its 2018 Consumer Housing Trends Report on recent homebuyers, 45.9 percent of homeowners and 33.1 percent of renters had children under the age of 18 living in the residence. Among buyers who had or adopted a child within the past year, more than half—56.6 percent—said the child influenced their move.

Zillow found that 25.7 percent of parents went over budget in their home search. This was slightly higher than the share of 21.2 percent among respondents without children.

However, parents were also considerably more likely to be conservative with their budget. Nearly two-thirds—66.5 percent—said they compromised to stay within their budget, compared to 51.6 percent of childless respondents. Among those with children, 34.1 percent said the home they purchased had a longer commute than desired, while 31.2 percent said they ended up buying a smaller home and 31.2 percent sacrificed their desired finishes.

A total of 54.7 percent of parents in the respondents put down less than 20 percent when purchasing a home, compared to 49.2 percent of those without children.

"Having kids is a major destabilizer in life – their needs are constantly changing and seemingly impossible to anticipate. Combine all that uncertainty with a massive financial decision that inevitably requires tough tradeoffs among a limited set of options and has to be wrapped up in time to move before school starts and you've got one of the biggest challenges around," said Skylar Olsen, director of economic research at Zillow. "As markets cool, parents will have more time to breathe and reflect on what tradeoffs they're willing to make. With interest rates back down, they'll be more able to lock in an affordable monthly payment that will last through college. The trick is finding the home that still fills the family's needs as toddlers turn into kids, kids into teenagers, and teenagers into the young adults in your basement. Luckily, most buyer parents end up with a home they love."

The vast majority of parents, 94.6 percent, said they loved the home they purchased. This was slightly higher than the share of 91.8 percent among those without children.

Parents tended to scrutinize the quality of their home and neighborhood more than those without children. A total of 71.8 percent said they purchased in the area they initially considered, compared to 66.2 percent among childless respondents. Seventy-three percent placed high importance on the potential growth of the home's value, while just 61.5 percent of childless respondents did the same.

Nearly two-thirds of parents, 66.4 percent, considered the commute to their workplace an important part of their decision; just 43.3 percent of those without children did the same. A total of 42.7 percent of parents thought it was important to be in a racially diverse neighborhood, while 39.5 percent wanted to live in a politically diverse neighborhood. Among respondents without children, 22.4 percent placed high importance on living in a racially diverse neighborhood and 20 percent placed high importance on living in a politically diverse neighborhood.

Zillow suggested that parents are more likely to consider factors such as the preferred number of bedrooms, neighborhood safety, and enriching communities in their search. The analysis says commutes are also an important consideration since parents will have less time to spend with their children if they face a long drive each day.

Finding a home with these features also created more hurdles for parents, however. A total of 31.5 percent said they were initially denied a mortgage, while just 11.5 percent of childless respondents had trouble securing financing. Fifty-two percent of parents had a successful first offer, compared to 62.7 percent of those without children.

Zillow noted how parents who rent their home also face greater challenges, filling out 1.9 times as many applications as renters without children. These renters typically searched for a residence for one month longer than childless renters. More than half of parents who rented their residence—54.1 percent—faced financial uncertainty, with 54.1 percent saying they wouldn't be able to afford an unexpected expense of $1,000.