Before you start buying a home after getting married, there are lots of conversations, agreements, and compromises that Australian couples will need to make. Also, there are uncertainties, such as job loss, which you should anticipate and plan for with your spouse. Buying a house is not something that you can wake up one morning and jump into. So, communicating and anticipating are necessary for you to succeed in buying a house as a couple.
Here are the things that you should do before buying the house of your choice with your spouse.
1. Start by getting approved for a home loan.
Start getting pre-approved for a home loan together as a couple. Fortunately, this is much easier because lenders in Australia view couples as a single entity. You can work with an experienced real estate professional in your area of interest, and you will be able to locate the best lenders who are willing to finance your home ownership dreams. When working out your plan, it’s imperative that you be realistic. Start with a conservative figure because that will help keep you on the safe side. You shouldn’t go the aggressive way since that may cause you to put lots of pressure on your shoulders.
2. Agree on the type of house that you want to buy.
After you have set an agreeable budget with your spouse, you can then agree on the type of house that you want and the location. In most instances, couples may seem to be in agreement until they start making visits to available properties. You can help make it easier for everyone by listing down the features that the house should have. To minimize issues, agree on the areas that you are going to target, the distance from work and the number of bedrooms the house should have. Also, you may need to consider whether it will be okay for you to start small and upgrade later.
3. Agree on a house hunting plan.
While hunting for a house can be full of excitement, it can also be depressing. There will be lots of competition with other couples, and this makes it hard to get the house of your dreams. So you should be ready to deal with the emotions that the house search process may bring.
4. Make the right offer.
If you have found the best home for your dreams, you should make the right offer. This is important since it helps you secure the property. A Hinchinbrook top agent can help guide you on the figures that you should quote while making an offer. Remember that the entire process of creating an offer is complicated, but with the guidance of a real estate expert, you can come up with correct estimations. If the property is being sold through an auction, you have to come up with an absolute limit that you can stick to. Check the details of the house and verify every aspect of it before the auction day, because this will help give you the confidence that you need while making your purchase.
5. Protect your future.
In some instances, things may happen that may force couples to split up. Think of ways of protecting your financial interest in that asset. Think about things such as divorce, loss of job, redundancy, death or even illness.
