Getting married and buying your first home are two of the most monumental, exciting, and (sometimes) stressful milestones in life. Even more so when done consecutively or simultaneously! The good news is, there are a lot of similarities between planning and executing a wedding and buying your first home.
Hire a Team of Professionals
There are a few people you’ll need to hire to help you through the home buying process, including a real estate agent, mortgage lender, and insurance agent. And just like wedding vendors, the best professionals will recommend each other! At OnWire Realty, our team of advisors takes a consultive approach to understand each client’s specific needs. In doing so, we can suggest one of our many trusted business partners to support you in the homebuying process.
Determine Your Budget
To determine how much house you can comfortably buy, first speak with a mortgage lender about what you can get qualified for. Don’t forget that just because you can get approved for a certain amount doesn’t mean you’ll be comfortable with the monthly payment. Just like you did with wedding planning, sit down with your significant other and discuss your home buying budget and how much of a monthly payment you are comfortable with.
Prepare in Advance
You didn’t start wedding planning 3 weeks before the big day. The sooner you can start making home buying plans the better. Before you start the homebuying process, make sure your credit and finances are ready for homeownership. This includes improving your credit, saving for a down payment, due diligence deposit, and closing costs. Also getting prequalified will ensure you have a good understanding of your purchasing power.
Enjoy the Experience
If you haven’t experienced it yet for yourself, then surely someone has told you — your wedding day will go by in the blink of an eye, so don’t forget to enjoy it. The same goes for home shopping! Looking at houses, checking out new areas of the city, and dreaming about your future home with your significant other can be so fun. Take time to enjoy the experience!
Getting married is an exciting time filled with moments you’ll always remember. It’s also the start of many important decisions you’ll make as a couple. For many, the next big step is homeownership. And if homeownership is part of your dreams this year, let’s connect and start the process today.