Buying your first home is always stressful and looks complicated than you expected. The things become more complicated if you just got married and are finding the right place together. As a husband, you want to give her all the luxuries and safety, while a wife just wants to own a world without damaging the bank account or wallet. So with multiple goals, when you start looking for a house, things become complicated and you want to get as much information as possible without investing.
Here’s a homebuying guide tailored for the newlywed couples or those getting married soon.
Know Your Financial Status
Before you go out and visit that beautifully build house you are eyeing up since long, sit and have a look at the overall money you have. It really makes sense to know what you as a couple have in your bank account. Check how much savings you have and how much debt or dues you have to pay.
No matter what you’ve thought, the lender is going to check your credit history. Without a positive credit report, getting home loan can be very challenging. Obtain a fresh copy of your credit report and analyze everything mentioned there.
Create A Wish-List (A realistic one)
Remember that there’s a fine line between requirements and wishes. Since childhood, you may have thought of owning an island for yourself, but be realistic when you write down your wish-list for your new house. Sit together and note down the things that are a must have. You will get a clear idea of what you need the most and what not. It will help you narrow down your search criteria and will give you a clear vision. Many homebuyers waste their time when they go out without knowing what they actually want.
Find One More Partner
No, it is not about cheating on him / her. Just find a partner who can help you in the real estate world. A professional real estate agent is someone who can take you closer to your dream home. A good real estate developer can also open the doors for many opportunities for you so why not find a reliable one and get the industry insights directly from people who have been in the industry since long.
Save For Down Payment
It may take time, but don’t just close any deal or think of closing any deal on speculations. Just save enough for the down payment and make sure you save it as soon as you can. There are plenty of ways you can save the money for a new house.
Don’t Forget Your Relationship
No matter how many times your thoughts don’t match, always care about your relationship. There are times when people just focus on their goal and forget everything, even the person with whom they are going to live in the new house. Financial discussions sometimes cause a lot of trouble in relationships, so better you are clear and care about your relationship. Always be responsible for your decisions and if possible, try to involve each other in the big transactions to keep the things clear.