Buying first home as a Married Couple

A few tips I found about newly married couples and buying their first home together!

 

Getting ready: If you’re a first-time buyer, you need stability in your career and the desire to commit to living in the same community for five to seven years. Purchasing a home is a lifestyle choice that makes you think about how you like to spend your time and the type of community you want to live in.

Talk with a lender. They can help you understand what you can afford and what mortgage programs best suit your circumstances. They’ll help you to include a deposit, closing costs, home owners insurance, property taxes and other costs associated with purchasing a home.

 

Get a loan PRE-APPROVAL (as opposed to a pre-qualification)! Having already gone through the credit check and paperwork requirements will allow time for any credit fixes needed as well as speed up the process once you’ve entered into escrow.

Choose a Realtor. You can choose a Realtor by asking friends/family for a recommendation, researching online at realtor.com, or visiting some open houses in the area you are looking.

An efficient Realtor will educate of you of what to expect from one another during the process, give you details regarding the current market conditions and possible negotiation issues that may apply to your transaction.

 

Start searching! Keep your budget in mind when searching for homes – you don’t have to spend all that you qualify for; Find an area that suits your needs – do you want a neighborhood association with a lot of amenities? Close to good schools? Rural living?; *Look at new homes and existing homes – new construction is often more expensive, but they may allow you to pick and choose what upgrades and features you want.