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Guide to Buying a Home for New Brides

Guide to Buying a Home for New Brides

Feb 1, 2019

A study released by Coldwell Banker proved, about 35 percent of married couples in the United States bought a house together after two years of marriage. However, before you are ready to decide to buy a house with a partner, it is worth listening to the following considerations. In the meantime, you might also need to see the interesting Lombok Villas for sale.

How much is your deposit?

Unlike life before marriage, you have to discuss a lot of things seriously when you decide to stay together.

One of them is discussing each other’s financial situation. Buying a house requires a lot of money, even if you use installments with a light down payment.

For that, try to calculate in detail the value of the investment and savings that each has. After that, if you want to apply for a bank loan, don’t forget to check the financial history recorded in the bank.

Do you and your partner have other installments before, or have several credit cards?

These kinds of things will affect the process of home ownership while at the same time predicting your ability to pay mortgage payments monthly.

How long the installment period will be?

The future goals will greatly affect the type of house and installments that are right for you. Choose the shortest installment period, around seven years with floating interest rates so you can save even more.

Will one stay at home to take care of the child?

Having children is the dream of every married couple. Although some couples plan to delay having a baby, this still needs to be discussed.

The reason, because the presence of the baby will affect the family’s financial condition. You will not know how the financial condition will be in the next three years.

For this reason, if you plan to take installments in the amount of around 30 percent of your fixed income, maybe this amount can be slightly reduced to 20 or 25 percent.