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March
25

March 25th, 2019 by

Married & Buying a House

At Haring Realty, our REALTORS® know house hunting has its share of ups and downs.

If you're buying a house as a couple, it's important to understand your needs and expectations so you can come to a choice as a couple. Some compromise is expected, but choosing a home over one partner's objections can lead to problems down the line.

On the other hand, a home you both love will only make your bond stronger.

Here's how you can do it:

  1. Develop Your Own "Must Have" Lists
    When buying a house as a single person, it's crucial to begin the process by understanding what you want from your future home. If two people are making decisions, it's even more useful.

    Each member of the couple should write a list of ten "must have" features or amenities for the house. Do it independently, without consulting one another beforehand, to get accurate answers.

    Once your list is complete, compare. If you can find five items in common, focus on them when you begin reviewing listings. If not, each person should expand the list to 20 items and try again.

    If you don't find five things in common after 20 items, it's a sign you have radically different ideas about what your home should be. That calls for a lengthier discussion before you proceed.

  2. Cut Emotion Out of Your House Budget
    It's easy to succumb to temptation when buying a house. One of the biggest pitfalls involves taking on more financing than you can comfortably afford. That may lead to becoming "house poor."

    House poor refers to having such high costs of living after buying a house that you find yourself in difficulty with bills. To avoid it, keep mortgage payments down to 25% of take-home pay.

    Taking on a home that's a "stretch" now often leads to compromises in the future. You may find you need to rent out a more expensive home or even sell it down the line to make things easier.

    It's often much easier to look for a property that costs $10,000-$20,000 less and trade up later.

  3. Be Watchful for Signs of Conflict
    If you find yourselves under stress during the house hunt, think seriously about putting it off.

    Buying a house has challenges and complications all its own. If two people come at it from very different perspectives and can't find a middle ground, it makes the whole process more troublesome.

    Be alert to these signs that it may be time to step back:

    • One person seems to be giving up on lots of their goals for the future home.
    • Plans for financing the home involve radical changes to budget or lifestyle.
    • Disagreements over the home have led to raised voices or hurt feelings.

    Taking a little time off from the process may be just what you need. Sometimes, this allows you to get a fresh perspective. Problems that may be standing in your way now could disappear later.

    Of course, your real estate agent can be extremely helpful here. They may put you on track to a longer timeframe that allows you to get better housing prices or financing due to market changes.

  4. Ask Your Real Estate Agent for Help
    Your real estate agent has probably seen it all – yes, even this situation.

    When buying a house, many couples wade into some rough waters. An experienced agent can help you navigate by giving you insight into what has worked for their clients in the past.

Contact us to find out more about Mansfield homes for sale.

Categories: Buy a House
Tags: First Time Homebuyers, For Buyers, buyers, Buying a house, Haring Realty

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