Planning a wedding is one of the most exciting times in a couple’s life, but is also one of the most stressful. I should know…I have been an event/wedding planner for 12 years and have experienced all aspects of the stressful/chaotic planning process. Now, being a real estate agent, I am helping couples with the next steps after they say “I do”…finding a place to call home and making it stress-free.
Searching for a house after the wedding doesn’t have to be as nerve racking as the wedding itself. I recommend sitting down with your partner and talking through these bullet points below trying to find a common ground on which you both agree.
Can I still afford the new Taylor Swift CD if we buy a house?
Before looking for a new home, you need to figure out how much you can afford or spend. Start with creating a budget by listing both take home incomes and subtract monthly expenses. Don’t forget to include expenses that will come with the new house such as utilities, landscaping, HOA fees, etc. You should sit down with a mortgage lender and begin the process of getting pre-approved for a home loan.
Can I open up a Macy’s credit card to buy the designer dress that’s on sale?
Take a good look at your credit. Lenders will look at each of you individually. They can give you recommendations on how to improve your scores or offer a loan that fits your profile. Also, take a look at Finely Crafted Realty agent, Jordan Phillips, blog on the The Mortgage Do’s & Dont’s Part II -A Guide to the First Time Home Buyer http://finelycraftedrealty.com/2017/07/18/the-mortgage-dos-and-donts/.
Most annoying question asked by guests at the wedding: When are you going to have children?
Consider the duration you want to live in the house. Real Estate recommends a 5-year rule: live in your home for at least 5 years before selling it, so it’s less of a risk to take a financial hit. If you plan on having children right away or later on in life, that decision will force you in a different direction for the type of home you are looking for and how long you will be staying there. Couples also need to take into consideration the possibility of being transferred in their career. What does your five-year plan look like?
What?!! Uber doesn’t come out this far?
Take a hard look at where you want to live. Where do you envision yourselves?
Do you need to be within walking distance to your favorite restaurants or is it a requirement to be close to a good school for soon-to-be children? Also, think about how long do you want to commute to work. Look at areas that will fulfill your specific needs.
“You’re killin’ me Smalls!”
Sometimes the process to finding a home takes alittle longer than we would like. It could be due to the economy with low house inventory or maybe the mortgage lender suggested you take time to get your credit score up, so you can get a better loan. Have a backup plan. Will you live in his parents basement until you can find a home or do you need look at apartments? Knowing you have options on where to go if the house process takes longer than expected will make it less stressful.
You don’t have to wait until after the wedding to discuss these topics and find a home. One of my recent wedding couples, Devanny and Tommy, started their house hunting process 6 months before the wedding day. It was important to Devanny to keep with tradition and wait until marriage before moving in with him. She focused on the wedding details while he worked on finding them a house. It was a very brief search. They found a home after looking at only one house and purchased it. Since Devanny and Tommy took the time to figure out their desires and discuss the above talking points prior to the home search process, it was a success and stress-free!
The last piece of advice is to enjoy the process…and, of course, call me (502) 322-6303 to help you with the house hunt!