Everyone seems to have lots of advice for newlyweds. However, after the hype has worn off from your wedding, the real life planning begins. It’s time to decide what your dream home and dream life will look like down the road. There are a lot of factors that go into buying your first home. You’re going to want to make sure both you and your new spouse are prepared. Keep reading to learn what you should know before buying your first home together.

Decide What You Can Afford

Once you’re married, look at how much money you’ve saved towards your home goal. You just had the big expense of a wedding. Now it’s time to reevaluate and see where you may have dipped into some of your savings. Or perhaps where you saved more than expected.

Look into the total amount of bills you pay right now. Rent payments, car payments and insurance, gym memberships, and other costs of living. Have you been able to save up the amount you want to?

Deciphering your budget — fundamental advice for newlyweds

Based on your current savings, budgeting can impact what kind of house you buy. Give you a realistic mortgage payment. And what you can afford for a down payment. It can be difficult as a young couple to envision what type of house you can afford on your salary. However, it’s important to know so you can be realistic about your goals.

Once you both have decided on a budget for the home, it’ll be easier for you to find a home you both really like within your means. How much house you can afford is dependent on lots of factors ranging from where you’re looking, the type of community it’s in, and your yearly income. Utilizing available affordability calculators to help you out can be a lifesaver.

Determine if you’re on the same page financially is always good advice for newlyweds

Something important to note when you’re newly married is your financial goals. It can be a hard conversation to have with your partner. It’s essential to ensure you’re on the same page for these bigger purchases.

Some ideas to discuss with your partner range from figuring out if you both have good credit. How much you both are saving for retirement? What other big-ticket items you’d like to save for down the road? And, how much do you prefer to splurge vs. save?

Credit Scores

Credit scores are important to know if you’re going to open a combined bank account. They can also help you decide if you both are applying for the home or just one of you. These are only a few things to discuss when deciding whether or not to combine finances after getting married, but these cover most of the important basics.

Something newlyweds typically don’t know before buying their first home– You don’t have to combine your finances if you don’t want to. Do your research to determine if you’d like to open a combined checking account, a credit card together, or both. Contribute to a combined savings fund that can go towards items in the future.

You must be on the same page about what financial path is right for you as a couple. It can alter your priorities and future goals.

Prioritizing what’s important to you is perhaps the best advice for newlyweds

As a couple, you’re going to have to discuss what your priorities are in your new life together.

Kids

Are you planning on kids in the future? You might want a home that has room for your family’s growth. You also will care more about the neighborhood you want to reside in. Do they have playgrounds in the area or are they a good fit for a child? Check out the local school districts and see if they’re up to your standards.

Will you want to live close to your family members? Staying close to family when possible can save you loads of money in terms of childcare. And also will allow you to stay connected in person. If this isn’t doable for your family, take a look at the surrounding daycares and read their reviews online.

You will want to make sure the place you choose to live in has plenty of entertainment options. For example, Anakeesta has a variety of family activities to choose from.

If kids aren’t in your near future, then your priorities may differ when deciding on where you’d like to live right after getting married. Maybe you’re looking for a home that’s equally distant from both yours and your spouse’s office, if you both work in a hybrid workplace setting.

Perhaps you’d like a home near a small city with various opportunities to go out on the town and meet other young couples. Or someplace that always has events going on. If you’re a big hiker, you may want to consider places with a lot of hiking trails near your home.

As you look to follow the best advice for newlyweds, discussing with your partner what’s important to you is key to a happy life and finding the right home for you both.

Find the Right Realtor

Once your finances have been put in order and discussed, you might have a budget in mind for your first home. You’re going to want to know what your new dream home looks like when shopping around for your first home.

By now, you both should know what your deal breakers are. What are necessities, and where you’d like to look for your new home. Having an image in mind is needed to ensure you find a realtor who can help your vision come to life. Ask your friends and family for real estate agents they’ve used in the past and enjoyed working with. Once you have a few recommendations, check them out online and read some other reviews.

Priorities

Sit down with your realtor to discuss your priorities, your deal breakers, and your budget. This will help guide them in finding what homes are best for you. This will also ensure you won’t waste each other’s time when house hunting.

At the beginning of the home buying process, you will want to submit an online mortgage pre-approval. With it, you can be confident in your purchasing decision and make a stronger offer when the time is right. If you come across a home that checks all your boxes, you can make an offer immediately and not miss out.

A lot that goes into buying your first home and it’s not always easy to know the ins and outs of the process. Lean on your friends and family who have been in the position before to gain their insight.

No one is an expert when going through the home buying process for the first time; that’s why it’s import to take heed of tried and true advice for newlyweds. With research and the help of a good realtor. You will be sure to find a home that fits your newlywed dreams.