House Hunting Honeymooners Should Cover These 6 Points Before Buying a Home

Congratulations on getting married! It’s an exciting time in your life and purchasing a home together can be a fantastic way to start building a future together.

However, it's essential to approach this process carefully, as buying a home is a significant financial decision that will impact you for years.

Here are some tips for what to consider and avoid when house hunting.

1. Location

The home's location is one of the most important factors to consider. Consider its proximity to your work, public transportation, grocery stores and other amenities. It's also important to consider the neighborhood itself – do you feel safe there? Is it walkable? Are there nearby parks or green spaces?

Take the time to research the area thoroughly, including school district ratings. School districts can significantly affect the price, so they’re worth looking into even if you don’t plan on having kids. Houses close to a high-rated public school district can be 77% more expensive than lower-ranking school districts and 49% more expensive than the national median list price.

2.  Size

Think carefully about how much space you need now and in the future. If you plan on starting a family soon, look for a larger home with extra bedrooms. On the other hand, if you anticipate downsizing later in life, you might opt for a smaller, more manageable home.

The average main bedroom in America is about 225 square feet, while additional bedrooms are 135 square feet. If you want a dedicated private bathroom with his-and-hers vanities and a lux bathtub, the bathroom could be about 160 square feet.  Consider your lifestyle and how much time you’ll spend in each room to determine how much space you need.

3. Budget

Before you even begin looking at homes, it's crucial to determine your budget. It should include how much you can afford to spend on a down payment and monthly mortgage payments while factoring in closing costs, property taxes, insurance, and maintenance expenses.

Look for a mortgage calculator to help you plan your budget. Remember to leave room for unexpected repairs or improvements that may arise after you move in.

It can be tempting to stretch your budget to purchase a bigger or nicer home, but doing so can lead to financial stress down the line. Ensure you're comfortable with the monthly payments and have enough wiggle room in your budget for other expenses. Consider a budget escape honeymoon with creative ideas like renting an RV and going for hikes or a romantic picnic outside a museum to prioritize your goal of becoming new homeowners.

4. Condition

Consider looking for a new home that’s still in the construction phase since it enables you to get a cheaper house with some strategic planning. Sometimes, developers offer low prices for homes sold early in the building process to secure finances for the project. In other cases, you may be able to save more by buying late since builders want to complete the project. You might even get additional incentives like upgraded lights or cabinets.

If you’re buying an older home, ensure a professional inspects it before making an offer. They'll be able to identify any potential problems and give you an estimate of the repair costs. While you can always make cosmetic updates, major structural issues can cost thousands of dollars.

Skipping this step could result in expensive repairs or safety hazards down the road. Trust your gut instinct – if something seems off about a home, don't ignore it. These red flags shouldn't be overlooked, whether they're strange odors, cracks in the foundation, or signs of water damage.

5. Resale Value

Even if you plan on staying in the home for many years, it's still essential to consider its resale value. Look for homes in desirable areas with good schools, low crime rates, and easy access to amenities. Homes with unique features like updated kitchens and bathrooms hold their value better than those without.

Try not to focus too much on cosmetics. While a fresh coat of paint and new carpeting can make a home more appealing, they won't necessarily add long-term value. Instead, focus on the home's structure, systems and overall condition. Installing upgrades is also one of the best investments you can make as a married couple, with high ROI if you choose popular updates and have a house in a good region.

Consider eco-friendly upgrades too. A Payless Power survey shows Americans are willing to go up to $50,000 over budget for eco homes. Features like solar panels, energy-efficient HVAC systems, and appliances are among the top green features people look for.

6. Lifestyle

Finally, consider how the home fits into your lifestyle. Do you enjoy spending time outdoors? Look for a home with a large yard or nearby hiking trails. Are you a foodie? Consider a home in a neighborhood with lots of great restaurants, or one with a gourmet kitchen and walk-in pantry. If you’re working from home, you may appreciate an extra room as a home office for privacy.

Thinking about your interests and priorities can help you find a home that feels like home. Make a note of the function of each room and look for a house that suits your needs.

Give Yourself Enough Time to Find Your Perfect Home

Take your time to explore different neighborhoods, compare prices, and weigh your options. House hunting can be both exhilarating and overwhelming, but approaching the process carefully and avoiding common pitfalls can help ensure a successful outcome.

Happy house hunting!

Author Bio: Oscar Collins is the editor-in-chief at Modded, where he writes about a broad spectrum of topics. Follow him on Twitter @TModded for frequent updates on his work.

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