The wedding day was perfection, the honeymoon was even better, but now you are back at home facing a series of decisions to be made as a couple. Perhaps the most difficult of those, is the decision to buy a new home.
Choosing the Right Fit – The first step in the home buying game is very likely the most fun. That is the choosing the right house to make into a home together. This is a very emotional game. While you can look at as many print outs and computer images as you would like, nothing will give the true look and feel of the house without visiting it. While you should always feel free to walk through open houses, it is a good idea (especially for first time buyers) to use a real estate agent. These professionals have access to nearly all houses for sale and can narrow results for you based on the criteria that fit your needs. But, better than that is the fact that they will help you to write an official offer, with the negotiations, and with the buying timeline. Here’s a great place to search for qualified real estate agents in your area.
Soothing the Financing Fears – Let’s face it, for the vast majority of buyers, the main fear in buying a home is the assumption of loan payments. Most mortgages are written for thirty years, and when one stops to consider re-financing in the future and secondary mortgages, those loans can last even longer than that, so it is important to ensure that you stay within a realistic budget. It is always wise to consult a mortgage broker before looking at houses. There is no point in getting your hopes up about the “perfect house” before you know if you can afford it. Mortgage brokers shop around to find you the best lending deal and give you pre-approval for an amount they determine to be the high end of your buying power. That should also mean to you that the amount you are pre-approved is not necessarily meant to be the price you buy at, as you may want to stay within a safer range.
Getting to the Close – Remember, the majority of house transactions come with minor complications along the way. So do not assume that you have the house just because you put it under contract. You will likely have to face other difficult decisions, stressful changes in schedule, and other obstacles before you reach the finish line- closing day. But, it will all be worth it when you walk through the doors of your very own home for the first time. Be sure to savor the momentous occasion with photos and maybe a candle lit take-out dinner on the floor of the empty house that is now your home!
Do you have any advice for newlyweds purchasing their first homes together? We’d love to share your advice with our readers, so please leave a comment!