Once all the wedding festivities have ended, it’s time to buckle down and get to one of the biggest moves you’ll make as husband and wife: buying a house.
One of the things that a couple dreams of when pondering their lives together is buying that big white house with a picket fence where you can have kids and grow old together. As wonderful as it may sound, making this fantasy a reality is harder that it looks. A lot of money and time is invested in the entire process, so you have to approach it with utmost care. Before you and your significant other decide to buy a home, there are a lot of things you need to consider.
Know what you want
Buying the wrong house can cost you dearly, so it’s essential that you think carefully about what your priorities are when choosing a home. Do you want a house or a condo? Have you decided on a location? Also, make sure that you decide on everything together: if there are certain things that you consider a must-have (a garden for you and a two-car garage for him) that the other might not agree with, it’s necessary that you discuss it now before you start house-hunting so you’ll know if some compromises have to be done.
You may not have kids right now, but should you decide down the road that you want to start a family, you want to make sure that your home will be spacious enough. It would also help to think of your house as an investment for if you ever opt to sell it in the future. Find out how prime the location is of your home as well as its special features so you have an idea of how much its value will increase, say, ten years from now.
Get your finances in order
The first few years of marriage will be the hardest (financially and otherwise), so you really have your work cut out for you as far as budgeting for a new home is concerned. Take a good look at your finances and see if you can afford to purchase a home outright or if you need to take out a home loan. If you’re going the home loan route, get a pre-approval to find out how much of a loan you can ask for, and therefore what kind of house you can afford. Also, don’t forget that homeownership comes with costs other than the monthly payments like basic needs and utilities, so don’t forget to factor these into your home buying budget.
Do your research
The best part about looking for a house these days is that the Internet has a wealth of resources within your reach, which means you won’t have to pound the pavement looking for that perfect home. Search online for various real estate listing websites to find the property you need. In most cases, these websites allow you to narrow down your search according to factors like price, location, and type of residence to make your search easier. Keep in mind, though, that online research only gets the ball rolling; when you find a home you like and decide to see it, inspect the whole property well to see if it’s actually worth buying. Make sure that you also size up the neighborhood itself to know if it’s an ideal location to raise a family.
Get a good real estate broker
If this is the first time you and your spouse will be purchasing a home, it’ll be good for you to hire a real estate agent to show you the ropes. An experienced broker will be able to tell you what you need to know about real estate, such as the market conditions of a certain location and what a particular neighborhood is like. Make sure that you choose one that you’re comfortable communicating with and who has your best interests at heart. Instead of just relying on what you can find online, ask your family, friends, and coworkers to recommend a good broker they’ve worked with in the past.
Buying a home as a newly married couple can be daunting, but it’s also one of the best things that you’ll get to do together. Learn as much as you can and don’t make hasty decisions. It may take some time before you land the perfect one, but it’ll be worth it once you find the one where you know you can happily spend the rest of your lives.
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