The big day has come and gone! The vows are exchanged and the cake is cut. Now, it's time to move forward to one of the most exciting parts of married life: Your first home together.
About 35 percent of married Americans buy a home together within two years of tying the knot.
That said, the process can take anywhere from a few weeks to months. Knowing what you're getting into early on will help smooth the process and make it go faster. Every bit of effort you put into it can make things easier.
After all, your home is one of the first – and among the biggest – things you need to agree on.
With that in mind, let's look at five of the most valuable tips for newlyweds buying a home:
- Start With a Budget
Let's face it: Finances are one of the least romantic topics around. Still, it's vital to work on your first budget together – it lets you know exactly how much house you can afford. It's also time to disclose issues like credit card debt that might affect your buying decisions in the future.
- Compare Needs and Wants
Establishing exactly what you want from a home helps you move faster by ruling out properties that don't meet your expectations. Each member of the couple should list needs and wants, then compare lists to come up with a reasonable final selection of goals for the new house.
- Get Pre-Approval
Pre-approval is the process of getting a provisional "yes" on a mortgage funding package. It lets you know how much you can finance and what rates you can expect. This means you can take action right away and put in your bid as soon as you spot your dream home.
- Get a Home Inspection
Once you've found a great new home, the last thing you want is unexpected surprises. A home inspection usually isn't required to buy or sell a home, but it helps you avoid costly issues like roofing or electrical replacements in the future. It's especially crucial in "as-is" sales!
- Think Ahead Five Years
A lot can change in a short time, especially for a new family. Are you expecting to have kids? Will one of you stay home to raise them? Does the area have the job prospects you want, or will you be moving on later? Thinking ahead can create a more stable and affordable life plan.
Last, but not least, there's this: Be sure to work with a real estate agent you can trust.
An experienced real estate agent who understands the local area can make things much simpler for you. You'll not only find your dream home faster but be much more likely to get it at the price you want – all while avoiding surprises that can derail the buying process.
Contact SheriGoldman.com to get started. Our team is always here to provide you with expert advice personalized to your needs in the Kent, WA area.