5 Factors To Consider When Buying Your New Home If You Are A Newlywed

Dated: 02/15/2017

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5 Factors To Consider When Buying Your New Home If You Are A Newlywed

The flowers have finally wilted, the cake is all gone, the gifts have been opened, the tuxedos have been returned, now what? It may be time to buy a home!  There are so many factors you need to keep in mind and you want it to be a pleasant house-hunting experience. Marriage changes a great deal of things, it is a big step then to consider buying a home. The following are just a few things you should take into account when you’re in the market for a new home.

Have a talk with your spouse and discuss your long-term goals, such as whether you want to start a family or move to a different location for job possibilities. Marriage is a big transition and it may come with some adjustments to your lifestyle.  You also should take into account the safety of the neighborhood, the school district in which you live and the amount of families that reside in the area. If you’re thinking about having kids in the near future, having great public schools nearby is important.  Are you looking at only fur babies for the first 10 years, will a fenced in yard or an ample green space be of necessity?

Required Space
Keep in mind the space you need for day-to-day activities, family gatherings and your future children. Create a list that helps you prioritize what kind of space is important to you as individuals and as a couple. For example, if you host a lot of parties, you may want to prioritize a large kitchen and living room. If one of you works from home or needs office space, put that on the top of your list.  Discuss what your expectations are for square footage and the general space you want within your home and be realistic.  First time home buyers tend to have eyes bigger than their wallet.

Keep in mind that compromise is often necessary. Identify which spatial features are and aren’t deal-breakers.  I always have my each clients do a separate "DREAM LIST" then we compare once the lists are completed.  It is very surprising to see how different you really are when it comes to home wants. Remember, sometimes a little elbow grease can make the home your own and sometimes more affordable.  So don't always look at brand new, be open to some updating, in the long run you can save much more if its primarily cosmetic.

Bed and Bath Layout
The number of bedrooms and bathrooms in your home is another important factor you should discuss. Talk about whether or not you want your home to be able to lodge many bodies or if you would prefer to not have visitors. Just make sure you don’t go over your budget, because the number of rooms and bathrooms has a major influence on the asking price of the house. Decide if you really need that extra guest bedroom if it means sacrificing a large kitchen or the perfect location.

Adding a bath can be EXPENSIVE, upwards of $10K, so be sure to evaluate the need for bathrooms and if you can take turns or that second commode is a must have, my saying is always "You know you are happily married when.........!"

Hidden Expenses
When you determine your budget for your home, make sure you include any ongoing expenses the home has. Utilities are a major cost that vary based on the sustainability and efficiency of your house. Consider the cost it may take to upgrade your heating and cooling system, major appliances, and windows and doors. Costs to repair these items should be eliminated during the inspection phase of the home buying process, however, things do break so keep it in mind.  It may cost more upfront but save you a lot of money in the future, so it’s important to figure out what you can afford in the short and long term. You also should be aware of costs like homeowners association dues, structural update costs, property taxes, insurance and any other regional fees.  This does effect your monthly payment, and finding out you are house poor 2 weeks after you get the house can set you up for some serious debt.

Home Security
Look for a home that you can keep safe and sound with solid security features. Search for houses that have trees and tall shrubbery around the lot’s perimeter so they can block the street view of your home. This natural barrier is pleasant to look at and helps prevent burglars from scoping out or monitoring your home.

Not always necessary, but something to consider is a security system.  Look into different types, especially if you are gone a great deal during the day.

Shopping for your first home as a newlywed couple should be a fun and memorable experience. Be sure to discuss your needs ahead of time, stick to your budget and enjoy the process.  I look forward to helping you find the perfect home!  Cheers!

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Sheryll White

As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....

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