Buying a housing property is one of the first and biggest investments you will ever make. When you’re starting a new phase with your significant other, as exciting as it can be, there will be things you need to talk about and important decisions you will have to take. One of the crucial ones among them will be buying a house together. It’ll take months of house-hunting and you’ll have to go through a tedious process of evaluating between preferences and must-haves before you can decide on a house. To make it easier for you, below is a list of home buying tips for newlyweds that’ll help you search for the perfect house.
Don’t rush into it
When you’re buying your first house as newlyweds, a number of questions comes to mind. Are you trying to find a good house nearby your office? Is commuting easy from your place? Are there children in your future? If so, do you have good schools in the neighborhood?
There are a number of factors that you will have to consider before making a big move. A decision like this takes time because if you settle down for the wrong house, it may hamper your quality of life in the long-run. Figure out your priorities before you take the next step.
Think about your individual needs and wants
One of the best home buying tips for newlyweds is to evaluate needs and wants. It’s very important to communicate with your partner to know the kind of expectations they have from the house you are about to buy. Some people like to work from home or maybe their professions ask them to do so. For that, they might want to have their own home office. Other people might prefer to live more luxuriously; hence, they would probably like to have a pool attached to the house instead. The only way of knowing is to have an honest talk among yourselves then coming to mutual terms that’ll be in the favor for both of you.
Talk about your shared objectives
It’s important to figure out first where you want to see yourselves living long-term. If you want to live in your house for a good decade or so, it is better to make a good investment. However, if you have to move around once in a while because of your job, or any other reason, you have to make the best out of your temporary living situation. Hence, you can create your budget accordingly.
Think about the housing expenses
First and foremost, do a full house inspection. This is one of the best home buying tips for newlyweds and every other home buyer. Check for yourself if there’s any underlying issues that need to be fixed before moving in. Most local companies do not provide any professional home inspector. However, Bproperty carries out a thorough home inspection before introducing a property to a potential buyer.
Think about the factors that affect the price of a property. When you’re buying a house, it is advised to keep at least 30% of your total price of the house for making repairs and renovations. While house-hunting, if you come across a property that fits well into your plan but needs too many repairs, it might be better if you keep looking. Home-buyers often leave these extra costs out of their calculations and later on, the entire home buying process becomes less exciting and more stressful. Money matters can put a dent on a marriage faster than anything else. Therefore, it’s better to understand and prepare yourself for what you’re getting into.
You don’t necessarily need a bigger house
While most of us dream of having a big, luxurious house, that may not always work out in our favor. Be practical in terms of making a big investment like this. A bigger house means more utility bills, more maintenance costs, a bigger loan and higher property taxes. More importantly, we don’t even use each of our rooms to their full potential most of time. A big house is a way of keeping things and furniture that occupies a lot of space (and things are expensive!). An easy way to fix this is to focus on how much space you really need. And when you’re buying a housing property as a couple, it’s better to start off with a small home. That way, you will not stress out at the start of every month about paying bills and at the same time, you will be able to use that extra money elsewhere. Choose to live comfortably and educate yourself before buying a property.
What did you think of our list of home buying tips for newlyweds? Let us know in the comment section below!
