Thursday, March 10, 2016

The Newly-Weds’ Guide to Buying a Home


Buying a house is a marker, a cornerstone, in newly-wed life. If you're a couple looking to start a new life together, if you're looking to raise a family in a new home -- see to these guidelines to come to a choice you'll both be happy with:


1. Discuss your goals. Why do you want to buy a house? Newly-weds often pick out property to start a family in, which means that a suburban house and lot may be the way to go. Ambitious, career-driven couples may want to buy a new home closer to their place of work, and condominiums near business centers present themselves as a viable option for this market. Younger couples may be looking to strike out on their own as soon as possible, for which cheaper options like foreclosures, short sales, and affordable housing are on hand. Meanwhile, older newly-weds may be looking for a home they can retire in, which may lead them to the countryside. Some yet are looking for a home they can pass on to their children in the future. Agree upon these goals to make house-hunting easier.

2. Discuss your preferences. Talk openly with your partner about what you want in a home. Have each of you jot down a list of 10 things you're looking for and agree upon the things you want and need -- a home office, for instance, or a garden, or whether the neighborhood ought to be more cosmopolitan or suburban. Pick out the properties that have the items that you both prioritize and agree upon.

3. Consider your finances. Learn how to budget together as a couple. Finances are, according to experts, one of the trickiest aspects of marriage and family life. Keep your feet grounded in what you and your spouse can comfortably afford long-term. Mortgages can take up to a decade or more to pay off. Before you commit to buying a home, make sure at least one of you is in a stable job with an upward trajectory in your chosen career. Likewise, it is optimal to pay off existing debt before applying for a mortgage, and saving up enough to pay for the downpayment and extraneous costs. 

4. Be smart about location. Choose a safe and wholesome neighborhood, and one where you have easy access to your places of work. Likewise, search the area for good schools for your future tykes to go to. You should be able to envision yourself and your family living a comfortable and enriching life in this home for the years to come. 

5. Invest time in family planning. Discuss how many kids you want in the future and bear this in mind when you're looking at each home. Consider its size and the number of rooms and bathrooms therein, and whether it provides you with options for remodelling or expansion.


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