Everybody knows that buying a home is a stressful and complicated undertaking. Aside from finding the best price and location, there’s a lot more things that you need to take into consideration to ensure that you’ll get the property that is best for you and your family. After all, a home is a big purchase; therefore, you want to make it right the first time.
If you’re just recently married and want to already take the leap from renting to owning, read on to learn how you and your partner can work together to purchase your dream property.
Discuss what you want.
Before anything else, it’s essential that both you and your partner sit together and talk about what you want and need in a house. Do you want a traditional or modern-style house? Do you want to live in a condo or an apartment building? Do you want to live near restaurants and public places, or somewhere quiet? Do you want a house with a yard or lawn? How many rooms do you want in your house – 3, 4, 7? How big do you want your house to be? It’s important that you agree on your priorities and goals. If there are certain things that the other might not agree with, talk about it first before you begin looking for a property.
Assess you financial situation.
As you probably already know, the first few years of marriage are usually the most critical, as this is the time when each partner faces adjustments in married life. This is particularly true when it comes to finances. You and your spouse may probably have a lot of plans aside from buying a new house, so it’s very important to take a look at your overall money situation. Determine if you can afford to buy the house that you want outright or if you need to apply for a home loan. If you think you can’t buy a home with cash, then go to bank or other financial establishments for financing. The amount that you’ll get from home loans will depend on your credit history, income, monthly expenses, and other factors. If you have an old house, you can use that to secure an auction bridging finance. Talk with your bank or agent for details.
Do your research.
Once you and your spouse have decided on what you want from a home and identified your budget, the next step is to locate the home that fits your needs. In this digital age, finding properties has now become much easier as you can simply go online and visit real estate listing websites to get information about the property you’re planning to buy. But if you know some available houses, which are for sale near your town, then it’s best if you visit them personally to get a much better feel about the property.
Get a good real estate broker.
If this is the first time that you’ll buy a property, it’s best if you hire a real estate agent to help you with the process. Real estate agents are professionals who know the ins-and-outs of the real estate market. They can help you find the property you want, negotiate to meet your budget and even save cost, handle the paperwork, and get you any information you need about the property you’re looking. Just make sure that you hire an experienced agent with a good reputation in the industry.