Buying your first home is a big step in a marriage, and it isn’t always easy to get through. This is a decision that could greatly impact your future, so it is not to be taken lightly. I’ve watched enough episodes of Property Virgins to know that most first time home buyers have no clue what they are getting themselves into. You don’t want to be one of those people. Here are some tips that can help you get through this purchase as smoothly as possible.
Needs vs. Wants
What you want out of a home and what you need out of a home are two different things. I wanted a two story house with a loft, but all I needed was two bedrooms. In the end, I got three bedrooms, but no loft. You have to weigh out what you have to have in your home and what you could possibly live without. Don’t go into a buy thinking there is always going to be a better home out there for you. You might just have your expectation set too high. Bring yourself back into reality before you reject a perfectly good home for your future family.
Availability vs. Affordability
Don’t assume you have to spend at the top of your budget to find a home you love. Just because you got approved for a $400,000 house doesn’t mean you can afford the mortgage on a home like that just yet. Assess your budget like an accountant would, and try to come up with a figure you can actually afford to make the payments on. Then you can start looking at houses in your price range. If you look for homes that are above what you can pay, you will be disappointed with anything less. Don’t get yourself in that kind of bind early on.
Space vs. Excess
Getting a bigger home may seem great at first, but you need to think about what you can logically maintain. My husband and I once rented a 2,700 square foot home for just the two of us. The master bedroom was literally larger than our friend’s one bedroom apartment. We loved the idea of having that much space, but we hated the upkeep. We also struggled to hear all areas of the home at night, which made us nervous about someone possibly breaking in. Before you jump into a home that is just too big for you, think about what you actually need. Then you can determine what a logical size home will be for your family.
Choices vs. Opportunities
Since buying a home is such a big deal, a lot of people don’t want to settle for the first home they see – even if it is everything they want and more. If you are stuck in the mindset that there may be something better out there, you may miss out on a great opportunity. The real estate market is hopping in some parts of the country, so you never know when someone may come along and steal a house from underneath you. Then you will have to look for another home knowing that was the perfect one for you. Spare yourself the disappointment and get something you like when you find it.
Investing in a home is a big step toward establishing a life together as a married couple. Think about your plans now and in the future, and get a house you can grow into. If you want to have a basement apartment, get something for that. If you want to have a ton of kids, get something for that. If you discuss your plans with one another enough, you should be able to come up with a perfect home for you.