A Newlywed Guide To Buying Your First HomeTying the knot brings a lot of new exciting adventures for the future. As a duo, you can make new memories and tackle life’s greatest moments together.

One of those special moments in the lives of newlyweds is purchasing their first home. For anyone, buying a home is a big commitment. For newlyweds who are adjusting to married life and taking on a very large and lifelong investment, you make sure you want to start the process on the right foot.

According to a study done by Coldwell Banker, “35% of married Americans purchased their first home together within two years of tying the knot.”

Home buying troubles can happen to all couples. For newlyweds who have a lot to adjust to, it is important to have some discussions and do pre-planning before making a 30-year investment on a new home.

Figure out each other’s credit score.

When getting approved for a mortgage and getting the best interest rate, credit score plays an important role, especially if you both will be on the financial front. This might not be something you thought to discuss prior to buying a home.

Also, knowing your credit scores beforehand will allow you to fix any credit issues.

Decide where you want to be in five years.

Knowing how long you plan on wanting to stay in the home will determine what type of loan you want. If you are looking to stay in the home for the foreseeable future, a 30-year loan will do. For a lower interest rate and less time in the home, a 15-year adjustable rate is an option.

If you plan on it, how do you plan on raising the kids?

Is one of you planning on staying home, leading to a one income household? Are you planning on starting a family a few years after you’re settled in and saved money or right away? This could drastically change the affordability of a home so it’s a good idea to talk about it.

If you are recently married, we wish you all the best in your new life together. For Palm Beach Gardens, Florida, homes for sale, the Leibowitz Realty Group  is here to help guide you in this process. Contact us at 561.262.0721 or 561.262.0722 today!