OK, Newlyweds... Ready to Walk Down the Aisle to Home Ownership?
The sweet mixture of love and the crisp autumn air… The colorful, natural backdrop that Mother Nature provides… What could be more beautiful than a fall wedding? How about a beautiful fall wedding where the happy couple rides off into the autumn sunset with keys to their very first home together? Talk about the American dream, right?! Many newly married couples dream of owning their first home together and may even start preparing for the home-buying process before they say “I do.” But, similar to those nuptials, the home-buying process is not something to be entered into lightly! While we wouldn’t suggest attending Pre-Cana or other counseling classes before newlyweds buy their first home together, we would like to offer a few tips to ease that first-home purchase. Ok, newlyweds searching for their first home, do you promise… To Understand Your Finances - Remember, you’re not just one person anymore. Since you’re uniting in marriage, the finances you put toward your first home are united as well. So, consider your joint financial picture and know what you’re able to afford together. This means that both you and your partner should know how much you bring in and pay out on a monthly basis. Once you’re familiar with those figures, lenders will want to see them, too! When it comes to finances, it’s also important to set your budget early in the home-buying process. And, that doesn’t just mean seeking a mortgage pre-approval from a lender. Remember that just because you’re preapproved for X amount does not mean that you must search for a home at the top of that limit! Together, determine what you and your partner are comfortable paying for a new home and begin your search there. To Know the Difference Between Your Needs and Wants – Before you even begin house-hunting and step foot through your potential first home, discuss your wants and needs with your new spouse. If you did attend any pre-marriage classes, you may think you’re already comfortable sharing your feelings on topics like this, but, it’s an important step in the house-hunting process. Did you know that your new spouse has always wanted granite countertops or has always needed a three-car garage? Even if you’ve got an unlimited budget, it may be difficult to find that one home that fulfills all of your needs and wants. You’ve got to talk with each other about the negotiable items! To Consider Your Long-and-short-term Goals – First comes love, then comes marriage… but, what do you and your partner want to come after that?! Some young couples today want to have children right away; some want to live in the city and experience a more urban lifestyle for a while; some may have other plans entirely. Determine what is important to you and your spouse now and what may be important to you in the long run. Then, look for the neighborhood and home that best meets your goals. To Take (Some) Advice – Now that you’ve said “I do,” you’re probably receiving a little marital advice from friends and family. Well, get used to it. Once the house-hunting process begins, your loved ones are sure to offer their two cents… and then some! Of course, you’ll want to listen to their advice, but it is important to remember that you and your spouse are the ones making the purchase, likely the biggest purchase you’ve ever made! Keep in mind that the ultimate decision is up to you two! To Seek Professional Help – What, you’ve just walked down the aisle and now we’re telling you to get some professional help?! Yes, absolutely! Any home buyer is sure to have questions about the process and (as much as family and friends may think their advice is best) a trusted real estate professional is a great, unbiased resource that you can both turn to for help. From explaining market conditions to scheduling showings to walking you through to closing, your real estate agent may be the person you communicate most with during the home-buying process… well, except for your new spouse, of course! If you and your newly-betrothed are ready to say “We do” want to begin our home search, get in touch with a real estate agent you can trust. Contact Berkshire Hathaway HomeServices The Preferred Realty today and find your happily ever after!
