From Just Married to Just Moved: A Guide to Buying Your First Home Together

Marriage is quite the milestone in a couple’s relationship. Soon enough, you’ll be buying your first home and cultivating the space to become your own. As exciting as the prospect of finding a property that’s yours is, getting it can be quite the commitment and process.

So, what should you know as you start this new chapter in your life?

 

1. Prepare Your House Buying Budget

Buying a house is a big splurge. If you’re still paying off expenses from your wedding, it may be ideal to postpone house buying until you financially recover. Start saving as early as possible — at least enough cash for the upfront costs like the down payment.

The average sales cost of new homes was around $524,800 in March 2024, though the figure you’ll face may differ. Quality, location and many other factors can affect house values, so calculate how much you can afford beforehand.

 

2. Budget in Your Move-In Essentials

Many new homeowners only account for the asking price, but this mistake can cause your funds to run short before moving in. Set aside cash for essentials like bedding, pillows, kitchen supplies and more.

If you have a pet with you, bring their belongings as well. Animals can take time to get used to new environments, so make the space as comfortable as possible. A soft bed, bowl and set of toys can help them get familiar with it.

 

3. Narrow Down What You Want

What kind of house do you and your spouse want to live in? Is it important to have plenty of square footage? Main bedrooms have an average size of 225 square feet and additional rooms are about 135 square feet.

Homebuyers can also choose between getting a fixer-upper or a newly built home. The latter will already have many modern features installed. Renovations on older homes can be pretty costly, but it’s also worth it to beautify the house while retaining its vintage appeal.

 

4. Check the Payment Scheme

Cash or a loan are the two main ways to pay for a home. Paying in cash can save you money since you can skip closing costs. Some sellers may also give discounts for such an offer, but it can be challenging to provide a lump sum.

Taking out a loan offers flexibility since you get the money for the house and pay it off in installments. However, mortgage terms can take anywhere from 15 to 30 years to pay off. You’ll also have to cover interest payments in the long run.

 

5. Find Homebuyer Assistance

Some homebuyers may have difficulty qualifying for a mortgage because of their lower credit scores. Luckily, some government programs are more flexible than conventional bank loans. All you need to do is meet the set housing and financial requirements.

For example, the Federal Housing Administration empowers first-time homebuyers to get a single-unit property. You can pay as low as 3.5% on the downpayment under the FHA home loan. Just make sure you have a minimum credit score of 580.

6. View and Compare Real Estate

Once you’ve sorted out the payment, it’s time to look into different real estate options. View different listings online or connect with an agent who can connect you with various home sellers. Allow them to help you through the home-buying process.

Homebuyers don’t have to settle on the first house they see, so browse and compare each one. Remember your criteria and non-negotiables to find a property that fits your wants.

 

7. Consider Practical Factors of the Home

Although most people focus on a space's appearance, consider lesser-known practicalities. For example, roofing is crucial to its structural integrity. Metal roofing has a 40- to 80-year life span, making it more ideal than regular asphalt shingles. With that in mind, you may want to look for a property with metal roofing.

There’s also the HVAC system. Some homes may have older units, which calls for energy-efficient replacements. To avoid temperature loss, you’ll also have to improve the insulation system by adding weatherstripping.

 

8. Inspect for Any Damages

Most property sellers will disclose any damages to the home. However, there’s always the possibility they might’ve missed something. Inspect for any flaws before purchasing — you and your partner might spot some remnants of water damage in the home.

If you do find certain damages, use them as a bargaining chip to negotiate the asking price. Sellers may cave if you bring up the extra repairs necessary to cover unforeseen flaws.

 

9. Place an Offer for the Property

If you’ve finally found your home, place an offer. Remember that other homebuyers can raise their proposed payment to gain an edge for the home purchase.

The next best thing you can do is to buff up your offer as well. Don’t be afraid to add a personal touch, too. Some sellers appreciate getting personal letters to understand your intentions with their property, especially if they have an emotional attachment to the space.

 

10. Get Home Insurance

If you’ve secured a house, congratulations! Stick to the deal and conduct all the paperwork to get the property under your name. You can also invest in home insurance for future repairs and replacements. Be sure to compare various plans to get coverage suitable for your household.

 

 

Be Meticulous with Moving

Buying your first home is exciting but takes plenty of time and preparation. Take it one step at a time and lean on your spouse when things seem grim. You’ll eventually get the property meant for you and your family.

 

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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