Buying your first home as a married couple
Buying your first home as a married couple is a very exciting experience and a major one that will affect you for many years to come. It may be tempting to get caught up in the excitement of looking at homes and ‘ooh-ing’ and ‘aaw-ing’ over things as simple as an island in the kitchen, but you also need to take into consideration what your future needs of the home will be. This allows you to make a decision that you will be happy with in 2, 5, or 10 years time.
What are Future Family Plans?
If you and your spouse don’t have children while you are considering buying a home, you need to consider whether you will while you are living in the home that you are purchasing. Don’t only consider things such as additional bedrooms but also think about the quality of schools nearby. Photos by: bryllupsfotos.net
Where will you be Living in the Future?
Some couples choose to buy a first home, knowing that they will only be there short-term, before moving on to something else, perhaps in an entirely different region. If you think this is you, try to get a good idea of where you might be living in the future (not always possible), geographically-speaking, so that you can determine whether you will need a home that you will meet your needs for the two years, or the next ten.
Don’t Get in Over your Head
Deciding on a home that will meet your future needs isn’t all about having extra bedrooms or residing in school districts, it’s also about deciding on a home that will fit in nicely with your future financial plans. It is very exciting to look at beautiful homes and picture the life you could have within them but you also need to remember that you’re mortgage is not going to be the only future expense you have and so, you need to keep a level head when thinking about the price of your first home.
To determine what you will be able to afford financially in the future, you will need to think of things such as your job security, whether you expect to be promoted or maintain the same professional status over the next short time and whether or not you will be adding to your family. There are no doubt many financial factors to consider when buying a first home but it’s also important to remember that your family factors, what your family will be doing in the next few years and what their needs and goals will be, are also major factors.