I came across an interesting article on MSNmoney.com the other day entitled, "Should Newlyweds Buy a House?"
An interesting question, indeed.
In dealing, as a team, with a lot of newlyweds/first-time homebuyers, we encounter this question a lot.
One of the first things we do with any buyer, not just the first-time variety, is refer them to our two trusted lenders. Not only do we know that these two lenders do a great job with our clients, but we have all used them personally and can attest to their knowledge and trustworthiness.
And of course, one of the tips in the article is right up this alley: Get pre-approved before house-love hits.
But it's not just about getting pre-approved and finding out how much the standard debt-to-income ratio says you can afford to spend. It's also about knowing what you are comfortable spending, and those two numbers can be very different.
Of course, the article doesn't do much to answer the question it poses in its title, but it does eloquently present some important things to think about. In addition to getting pre-approved, other helpful tips offered by this article are aggressive saving, discussing and managing timelines and researching mortgage deals.
I highly recommend this article to any newlyweds/first-time homebuyers contemplating that first big housing purchase. There is so much to think about as you venture into a life together, not to mention into homeownership together.
I also highly recommend researching working with a Buyer Agent and making sure that you are being represented. Your first home purchase is not a thing to enter into alone. It can be overwhelming anyway, not to mention trying to do it alone. For my reasons for you to sign a Buyer Brokerage/Buyer Agency Agreement and for ways to feel more comfortable signing the Buyer Brokerage/Buyer Agency Agreement, click here.
We love working with first-time homebuyers. For information about buying a home in the North Metro Atlanta area, call The Gebhardt Group today!
The Gebhardt Group
RE/MAX Greater Atlanta
10220 Medlock Bridge Road
Johns Creek, GA 30097