After the hectic planning and celebration of your wedding day, it’s time to take on your first big adventure as a newly married couple: purchasing your first home together.
Buying a house can be complicated, especially if it’s the first time you’ve both done it. That’s why we’ve written a guide with the best advice on how to plan for this next step. In this post, we’ll walk you through the process of locating and buying your first house so that it can serve as a place for you to begin your happy marriage and make many more enduring memories together.
Define your priorities
Before you start searching for your first property together, it’s important to discuss your priorities and preferences as a couple. This will help you narrow down your search and help you find your dream home quicker.
Make time to sit down and think about the following things:
- Location
- Size
- Cost
- Particular features that are non-negotiable
Discussing the above points will help you also steer clear of any potential conflicts later on.
Set realistic budgets
Purchasing a home is pricey. By determining a realistic budget and maintaining your spending plan, you can make homeownership more relaxing and enjoyable. The first step of setting a budget is to find out how much you can spend on your first home. This includes your combined income, outstanding obligations, and any outgoing costs.
It’s important to bear in mind that buying a house involves more than just the purchase price, as well. You’ll also need to incorporate maintenance, utilities, insurance, and any property taxes into your budget.
Be open to compromise
The housing market can be cutthroat so it’s crucial to be adaptable and open to compromise. After deciding on any particular features that are non-negotiable, be prepared to accept any other smaller compromises; not every home will check off every item on your wish list.
Remember that, unlike a rental property, you can also make big changes to a property that you own. This might mean knocking down a wall to create a bigger kitchen space or adding fitted understairs storage to give yourself more space for your belongings.
Closing the deal
After you’ve found your perfect first home, the final step is to close the deal and sign for the property. It’s important to review all the paperwork thoroughly and ask any questions you may have throughout the closing process.
Make sure you both fully comprehend the conditions of your mortgage, the closing costs, and your duties as brand-new homeowners.
If you’re looking for your first home as a newlywed couple, congratulations! We hope these tips make the process a little more simple, and set you up for a lifetime of happy memories.
