House Hunting for Newlyweds
For many newly married couples, buying a first home is an exciting but daunting experience. If you have the right advice and take the right things into consideration for finding and purchasing that home of your dreams, you can go forward in confidence and enjoy the house hunting experience. In celebration of Valentines month we’ve set out some guidelines for all the love-struck newlyweds out there to take some stress out of making one of the biggest decisions of your lives.
Must Haves and Nice to Haves
It’s important that you and your spouse come to a consensus on the essentials of your new home. Both of you will have an idea of what is a must have for you and what can be negotiated. The main points that require either agreement or comprimise would be the location (city or suburb), space (number of bedrooms) and cost. Make sure you’re both on the same page with these issues and the others could go either way, depending on who can out- silent treatment the other.
Open Houses Are Free
The best way to find out if a home is right for you is to experience it for yourself. When considering a home, make sure you attend the open house showing or get a personalized tour with the agent or homeowner. Visit different types of houses to see whats out there and what suits you both. Simply visiting a house and glancing around the space won’t give much insight as compared to actually spending some time on the property, walking around the garden and thinking about how the space suits your lifestyle and movement.
Knowing Your Neighborhood
There are many websites and blogs that give insight into the lifestyle and atmosphere of different neighborhoods. You can find out lots of information on the amenities and other nearby landmarks by searching various real estate websites or community blogs. If you are keen on a particular area, it would be wise to chat to some long standing residents and find out what their experience has been with regards to safety, neighborly attitudes, basically the pros and cons of the area.
Even though you may be buying for two right now, a first home is a stepping stone to your future in possibly starting a family. You should put ample consideration into the re-sale value of the property within the next five to ten years. Buying a first home can be a great investment towards your future if you approach it wisely. You can get information on property value forecasts for different regions from various sources online as well as from a reputable estate agency. Looking for a home which can add value to your life in the future is as important as finding the right home for your current needs.
Before you can start the process of house hunting, you need to make sure your credit is in order. Be sure to check on old debts and clear all this up ahead of time. Make sure you can both agree on and commit to values for a deposit as well as a monthly bond payment. Saving money is vital, more so than splurging on new furniture. Try as far as possible not to buy anything expensive on credit before getting your housing finances in order. You both need to be of the same understanding so that there isn’t strain on the relationship. Even if you have decided that one of you will be responsible for the bulk of the payments, it is important that the other doesn’t go on a spending spree.
Patience Pays Off
House hunting is a process that doesn’t produce good results under a time constraint. Even if you are desperately searching for a home, you shouldn’t let the pressure of the situation dictate any of your decisions. Also, letting a seller know that you are in a hurry will allow them to take advantage of your situation and you could end up losing valuable negotiating potential.
The key is to always put time, thought and research into your efforts. There will be snags and unexpected scenarios but the idea is to be well informed and prepared so you can minimize these. This process should be exciting and memorable for the both of you and will yield great stories to share later on in life. Keep the stress low and the confidence high and untimately you can turn any buy into your romantic dream home if you stick together and put first things first! Happy hunting!
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