Newlyweds and First Time Home Buying - How Do You Make It Work? | RealtyPin.com
NEW YORK, Feb. 22, 2013 /PRNewswire-iReach/ -- First comes love, then comes marriage, then comes… house hunting?!
Take a look at the real estate advice on Realtypin.com, and you'll see that buying a home can be a challenge these days, thanks to low inventories and tough mortgage underwriting standards. So, what do you do if you throw a brand new marriage into the mix?
Just follow these 4 tips:
1. Get a realtor you can talk to
After all, you're still getting used to communicating with each other as a married couple! The last thing you need is communication problems with your realtor. Since you've never bought a home before, you need a realtor that can guide you through the process and make the transformation as easy as possible.
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2. Be conservative with your budget
The first few years of married life tend to be the toughest, and many of the disagreements you have will probably be over money – especially if you discover that one of you is a "spender" and one is a "saver". So, if you want to make sure that your house doesn't become a sore spot, be very careful when it comes time to set a budget. In fact, go lower than you think you need to. After all, you're just starting off your married life, so there's no shame in getting a "starter home"!
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3. Communicate, communicate, communicate
Remember when you stood at the altar and promised to honor each other? (You should – it was only a few months ago!) Well, those promises definitely extend to your home search! You'll have to work carefully to find a home that BOTH of you love equally. However, don't wait for your showings to find out what kind of taste your spouse has. Instead, have a discussion before you even start checking out the online listings. That way, you'll know if your modern tastes are going up an antique-lover, or vice versa. And, as an added benefit, you'll have some time to come up with a compromise before you're standing in the middle of someone else's living room!
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4. Make a list of priorities
This goes hand-in-hand with the communication, but it's so important, that it deserves its own number! You won't know exactly what's most important to your new spouse until you sit down and make a list. For example, is he dying for a big backyard, or is any home without a finished basement a deal-breaker? Figure out all of your joint priorities before you waste your (or your realtor's!) time.
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