From the time you get engaged, and now that you’ve just tied the knot, buying a home is one of the most significant decisions you’ll officially make together. Buying a house though is not only limited to the financial aspect, so it will be necessary to take some time and plan carefully before saying yes to an estate agent.
What you should remember, though, is that buying your first property involves several dynamics, and while looks are one of them, suggestions from both of you are essential.
Mainly, what you want to guarantee yourselves is that you’ll both choose a home where you build your dreams, and start growing your family for years. Here are some tips that can help you make the best choice.
Set a realistic budget
The first factor you may want to decide with your spouse is the financial aspect of buying. The key here is to go for a property that you can afford, and having it sorted out first is one of the ways that can make a home happy. Thus, it is imperative that you mutually decide on the finances.
One of the best ways to know that is to review your cash flow, your monthly bills, and other recurring payments you currently have. Set it beside your combined incomes, and you’ll have a figure, more or less, of the funds you have.
Visit the mortgage company for pre-approval
It is a normal process first to have a pre-approved notice from the mortgage office before you set up an appointment with a home seller. Most sellers look for these papers as they would typically deal only with people who are sincere buyers. Having all your documents ready and financial records checked out is an indication of your intent to buy.
If you don’t have pending debts or delinquencies, getting a pre-approval is usually easy, as they only require the couple’s financial data.
Determine your wants and needs
Remember that this is potentially your first home, and you may live there for many years. Thus, it’s highly likely that you’ll want a place that has both of your wants and needs. Discuss with your other half all the home features that you expect to have and willing to let go.
One example will be the number of rooms; do you need 6 or 4? How about the bathroom, do you prefer big with shower pods or something smaller? Consider the location as well since it’ll be a deciding factor if you are willing to travel further every day when going to work.
Life decisions like purchasing a home will be integral to your foundation as a married couple, and this is the start of the rest of your lives. Buying your first house is a choice that you both need to do, not to be taken lightly and treated with thorough planning. The key is to work together as a couple. Your dream house may be just within your reach.