A Quick Guide for Couples Who Are Considering Buying a Home This Summer
Buying a home can seem like an overwhelming process for many couples, especially for those couples who haven’t been through the process before. Thankfully, buying a home can be made much more straightforward by following some basic tips.
1 – Start Saving Now
You may be looking at homes online already and getting your mind wrapped around what you’ll need to come up with to make that all-important down payment. Regardless of what percentage of your dream home’s price you’ll need to come up with, it’s never too early to start saving.
Just remember that you’ll need more than your down payment alone to get into your first home. In fact, there are many other costs associated with buying and moving into your new home, like closing costs, moving costs, title fees, and more.
2 – Budget for Your Future
The best way to get a start on your savings is to write a realistic budget, especially one that identifies the basics you need to get by while also including a little wiggle room for some comfort items. Luxuries can wait until you’re in your new home. Weekly check-ins to see how things are going and if adjustments need to be made to your budget are a great idea as well.
3 – Get Your Credit Into (Excellent) Shape
You’ll also need more than just a healthy savings to get into your dream home on the best terms available. You’ll need to get your credit into shape by paying off as many debts as possible and making sure that your credit report accurately reflects the truth of what you’ve paid off.
4 – Seek Home Buying Resources Available in Your Area
There are many more resources available for home buyers than you may realize. Many banks and credit unions offer support for couples looking to buy a home. Additionally, many cities, counties, and states offer down payment assistance programs and other resources.
5 – Negotiate a List of Musts
It’s also important that you get your minds wrapped around more than your finances as you prepare to buy a home together. Getting on the same page regarding what you’re looking for in a home can save you (and your real estate agent) time and headaches once you begin looking in earnest. Consider individually drawing up lists of must-haves, and then compare notes to negotiate a list together.
6 – Narrow or Expand Your Search Area
One of the biggest things that many couples overlook is how important the location of their new home will be to their experience of living in it. Make sure that you carefully consider which areas or neighborhoods have the amenities that you will need and narrow or expand your search area accordingly.
Buying a Home for Couples
Buying a home isn’t simple, but the process can be fun and exciting if you work together and follow some basic tips. Happy house hunting!
