Saying "I Do" to First Homes
The activity, excitement and endless planning that go into a wedding
can distract you from understanding the importance of selecting the
right home for your life together. Your new home will provide the
environment where your life together is played out every day.
Do's
Create
independent lists of must-have home features and compare. It can be
difficult for newlyweds to find a starting point for joint home
parameters.
Determining how much square-footage you need. Men and
women marry later today and usually have lived and possibly owned a
home on their own. Don't think a small place will be romantic; it might
be to close for two people stating a life together.
Plan for everyone's commuting times. Buyers often
overlook both spouses commuting needs for their careers. If you go out
to the suburbs and your spouse inherits a long commute along with a new
spouse it could be a strain. Your first home most likely won't be
forever, so keep in mind neighborhood familiarity, commuting times and
proximity to family and friends.
Consider the needs of your spouses pet. You might
have never had a dog or cat, but your spouse does and so will you. Plan
ahead for the special needs of a dog that needs to be walked
(reconsider high-rises), go to the dog park (a walk or a car-ride away)
or a cat that will perch on wide window sills instead of the back of
your fabulous couch.
Look for good resale characteristics. You probably
won't stay more than three or four years in your first home together.
Look for good resale characteristics and make sure your real estate
agent understands that they are at the top of your wish list. Your
first investment together should be a positive one. Don't skip a home
inspection and be sure to use an attorney when you purchase.
Remember that men today want good closet and bathroom
amenities. Don't short-change his space or it could become a problem
later. Agree in advance where his large screen TV will go in your new
home. Ditto the barbecue grill, boats, snow boards, etc.
Send out change of address announcements. It's can be
over whelming after all the wedding mail demands to let people know the
address and phone number of your new home. I remember some newlyweds
recently telling me after all the attention they received before and
during their wedding, that now they haven't heard much from anyone. I
told them to let people know of their new address via a snail mail or
email. Tuck a matching change of address into wedding gift thank-you
notes.
Don'ts
Over spend on your first home together. It's easy
today with zero-down payment and interest only mortgages to qualify for
more home than you thought was possible. Large monthly payments might
eliminate vacations, dining out and furniture purchases. Keep in mind
that financial pressures impact marriages new and old alike.
Forget to disclose financial problems in advance.
Marginal credit histories, bankruptcies, under-estimated child support
and undisclosed divorces would come up in mortgage applications. Talk
with your new spouse before meeting with a mortgage consultant about
any of these issues.
Move in to your spouse's home. To get your life
together off to the best start, resist moving into one of your homes.
Like it or not, it's still territorial, either you're moving into
someone else's space and you feel like a visitor or you feel your space
is invaded. No one likes to have their decorating challenged or be
regulated to the closet in the guest bedroom.
Burden yourself with multiple homes. Your home, his
home and your new home can be a lot to juggle physically and
financially. Try to sell both of your existing homes before you close
on your new home together.
Differ if you mean it. New marriages take time to
establish give and take. If you feel strongly against a proposed paint
color, furniture choice or room layout, voice your opinion. Staying
silent won't save your marriage, it could disable it.
Written by Mark Nash
Wondering What Your Home Is Worth? -- Let me show you.