As newlyweds you are probably excited to be blending households with your love, so it may seem natural that buying your first house together is the next task to complete after the wedding. Before pulling up the home listings in your area, though, read through the following tips. They can help you and your new bride or groom make a wise decision when it comes to homes for sale.
Tip #1: Don't act too quickly
It's a good idea to finish blending other aspects of your life before you make the major investment into a house. This can be best done by staying in a rental home for at least a few months. Doing this will help you both determine each others living styles so that you know what to look for in a home. For example, if one of you likes loud late night movie watching while the other wants to read quietly, you will want to look for a house with separate dens so you can maintain matrimonial harmony. This is something you may not consider if you don't take the time to live together for a little while first.
Tip #2: Blend your finances
The decision to keep separate or joint accounts is personal to each couple, but you should both sit down and be aware of each others finances at the very least. For example, set aside some time to go over both of your incomes, monthly bills, assets, and any debts. Come up with a plan for paying off the debts and gathering a down payment on a house together. For couples that prefer separate finances, it can still be helpful to have a joint account for bill paying and joint savings towards a major goal like a home.
Tip #3: Determine your longterm plan
Chances are as newlyweds it will be just the two of you to start with in your new home. If you plan to one day have children, though, you will need to have this goal in mind as you shop for a home. Before calling a realtor, think realistically about how long you plan to stay in the house you buy and how many children you hope to have while living there. This will guide you on choosing a home size. Also, even if you plan to move before a child reaches school age, it's still a wise idea to consider the school district the homes are in just in case the plan changes.
For more help in finding the home of your dreams and embarking on your life together as a couple, contact a real estate agent in your area.