If you’re a newly engaged or newlywed couple, you’re probably discussing where you should live as you begin your life together. For many people, this is the time to venture into homeownership. Searching for a home is a big undertaking and can be stressful at times. Here are some helpful tips to guide you through the home buying process without rocking your relationship.
Tips for Newlywed Home Buyers:
- Sit down with your spouse and decide which neighborhood you’d both like to live in. If you’re uncertain, here are a few things to consider:
- Which neighborhood do you currently spend the most time in—shopping, eating, and relaxing?
- Which neighborhood is closest/most centralized to your workplaces?
- Which neighborhood can you afford?
- What neighborhood amenities are most important to you both? For example, do you need to be close to public transportation or like to be near nightlife?
- What are the public school systems like?
- Discuss which features each of you want in a home and which you can live without. It’s a good idea to make a list of “must-haves,” “would-like-to-haves,” and “can-easily-live-withouts.” Your first home won’t have everything you both want, so view this an exercise in compromise–something you’ll get very used to as a married couple!
- Save for a down payment. The more you can save as a down payment, the smaller your monthly house payments will be—which means more money to pay down debt, spend on entertainment/lifestyle, or save for other life events like having a baby or taking a second honeymoon.
- Decide on a budget together before viewing homes for sale. The budget should be something on which you both agree. If one of you is more conservative with money than the other, you’ll have to work to find a happy medium with which you can both be comfortable. By determining a budget before the home search begins, you’ll prevent yourselves from the aggravation and frustration of seeing houses you both like but can’t afford. You’ll also likely be protecting your relationship from an argument or two!
- Celebrate once you find your new home! One of life’s greatest joys will be setting up your new home together. Just think of all the memories you’ll make inside! Once you close on your house, be sure to take over a bottle of champagne and a couple of glasses and toast to your new life together!
What’s your best tip for newlyweds looking for a home? Share in the comments below.