For most newlyweds, one of the top items in their to-do list is usually to purchase a home. This is, however, one of the most expensive purchases a couple is likely to make in their lifetime and so care and consideration are required when doing it. The wrong decision can have serious financial repercussions to a couple that can last for years. With this in mind, here are the factors that a newlywed couple should consider when planning to purchase their first home.
Home purchase decisions are hard to reverse once made because of the sheer amount of money involved. What this means is that a couple must put a lot of thought into what are their priority areas for their new home now and in the future. If for example having a big family is one of their priorities, it follows that they must pick a house that will have enough room to accommodate this anticipated family. Other things such as school districts, neighborhood, economic opportunities etc. all factor into the decision to purchase the house.
When a couple has gained a pretty good idea of the kind of home they want, the next step is to go out there and look for it. There are numerous resources both online and offline that can help newlywed couples find their dream home. Most online resources include photos of the homes, background information about the neighborhoods and so on. It is advisable to get as much information as possible; both from realtors but also from independent sources so you are sure that you are getting to know all aspects of the property.
Work With A Good Realtor
A good realtor or real estate agent can make all the difference when it comes to getting a good house. This is because they tend to be very familiar with property in the various areas you are looking at and may know background information that you might not be aware of. In addition, they will act as an interface between you and the couple, ensuring that you don’t get persistent calls from eager sellers. The real value from real estate agents though is the fact that they can save you thousands of dollars when it comes to agreeing on the price. This is because they tend to be familiar with property prices and can advise if you are getting a bargain or if the quoted price is too high.
Ensure Financial Plans Are In Place
Ultimately, buying a house will boil down to a question of finances. Ensuring that you have a good financial plan in place can take most of the headache of buying a new house away. When it comes to this, couples have the option of buying the house outright or getting a loan to do this. If it’s a loan, the couple must plan carefully around their repayment plan to ensure that they can sustain the payment as well as meet other living expenses.
When a newlywed couple is planning to purchase their new home, these are some of the factors that they need to consider. With proper planning, the couple can acquire a lifelong asset that will not just serve as a home but also as a great investment decision. If you are currently looking for property in New Jersey, contact a leading New Jersey realtor for great offers on homes.