6 Home-Buying Tips For Newlyweds/Couples
6 Home-Buying Tips For Couples
Buying a home is a dream for most couples. But realistically, it can put a bit of stress on any relationship. Here are some tips to help simplify your home-buying journey — and maybe even enjoy it!
1. Discuss Your Budget
- Determine your actual buying power: how your financial situation looks, including income, debt and credit history.
- Map out your budget, and let it determine the type of house you can afford.
2. Discuss Your Must-Haves
- Talk openly about your expectations for your new home.
- Create a “wish list” of your top home features and amenities.
3. Get Prequalified for a Loan
- If you don’t have cash on hand to buy, your best option is to get a mortgage.
- Get pre-qualified for a housing loan that fits within your budget.
Median Home Price of First-Time Home Buyers (2018) 1
Married Couple: $229,000
Single Male: $188,400
Unmarried couple: $187,000
Single Female: $153,900
4. Choose Your Community
- Choose a location for your home.
- Pick a neighborhood you’ll want to stay in for years.
5. Conduct an Inspection
- Before buying a home, hire a qualified home inspector to evaluate your potential new home.
- A home inspector can let you know if there are problems and help you make sensible decisions when putting in an offer.
6. Work with a Real Estate Agent
- Find a qualified real estate professional who can help you streamline the home search and home-buying process.
- A real estate agent can provide practical advice and help with the overall home buying process.
Who Are Today’s First-time Home Buyers?1
Married Couples: 54%
Single Female: 18%
Unmarried Couples: 16%
Single Males: 10%
Buying your first home as a couple is an exciting step on your journey. Take your time and make sure to prepare yourselves — and enjoy planning your new life with your love!