After getting married, many couples think about the next step — buying a home together. But before taking this leap, there are many factors to consider. From financials to location and size, you and your partner should spend time going over all the details before putting an offer on a house. Here are some questions to ask yourselves when deciding on a home.
Are we prepared financially?
You may have dreams of a big backyard, spacious kitchen and a pool, but it may be time to push those daydreams to the side. Remember that this is a starter home and you have plenty of time to earn more money and move into the house of your dreams. For newlyweds, it’s important to stay realistic about financials.
Be open in talking with your partner about credit scores, salaries and savings. You need to know exactly where you stand before you even consider looking at houses. Then you can meet with a mortgage broker to get pre-approved for a home loan. They will be able to tell you how much you can realistically afford, and you can begin to look in that price range.
But don’t forget that a mortgage payment is only the beginning. With home ownership comes paying for repairs, decor, landscaping and more.
How much space will we need?
Before purchasing a home, it’s important to know how long you plan on staying there and what you will be doing in those years, so you can better choose a location and size. If adding to your family is in the near future plans, be sure to look at homes with extra bedrooms that can accommodate a couple little ones. Plan on getting a pet? Even getting a dog can change your outlook on the type of home you need. You’ll probably want a little extra room and a spacious yard.
And don’t forget about visitors. If you have a large family and group of friends who like to visit, keep that in mind so you don’t get overcrowded on those occasions. Try to go through all possible scenarios for the coming years and make sure the house will fit your needs.
How do we make ourselves feel at home?
A hallmark of feeling “at home” is feeling comfortable and safe. Beyond liking the community and structure of the house, you may want to add on some extra security to put your mind at ease. You’ve just made a huge investment in this home, so it’s understandable to be nervous about something unfortunate happening to it. Relax your thoughts by investing in a home security camera system. You will be able to monitor your home while at work, on vacation or anywhere else you need to. These cameras are durable and reliable, so no matter the weather or time of day, you will be able to get a clear view of your property.
These steps are only the beginning of home buying. Neighborhood choice, renovation possibilities and the length of time you plan on staying in the home are all topics that should also be covered before making the investment. So if you are considering home buying in the future, you may want to start now. You’ve got a lot of work to do to make sure that your first home together is perfect.