Buying a home is one of the most exciting major life investments for newlyweds starting a life together. It can be an emotionally stressful roller coaster ride, especially if you’re not prepared for it.

You will need to consider many factors before purchasing your future family home. This investment is not cheap, which is why it’s important to be cautious in choosing the best option possible!

If you and your partner are searching for your dream house, read this article and make it easier for you to buy a home! 

1. Evaluate your financial situation

The first thing you need to do is to consider your financial capability. Assess where you are financially, then set a price range where both of you are comfortable. 

Once you’ve decided on your budget, you can now consider the kind of house you can afford!

It’s important to properly decide how much you can invest to avoid overspending. 

2. Strategize with your spouse

Next, you’ll need to take a seat and talk to your spouse about your expectations and finances.

As newlyweds, buying a home requires a team effort and a mutual agreement—especially if you’ll be spending your savings.

Together, decide on what house you want to buy. It should meet your needs and preferences, while still staying in your price range. 

The environment and neighborhood you want to live in should also be on your priority list! 

Research the community thoroughly and check for any kinds of reported complaints and crimes in the area.

No matter how long you will live there, it’s important that the house meets your needs and is near your workplaces.

3. Seek professional help

It’s an excellent decision for first-time homebuyers to look for professional help. You might overlook many things on your own, but having additional insight will help you avoid making mistakes. 

Plus, real estate agents might have additional information about the house and area that you're looking into. These might even help you negotiate the listed price with the seller!

Or, if you’re lucky, your real estate agent might even have the dream home for you and your partner!

If you decide to hire a real estate agent, make sure to consider several options. Take some time to get to know them and determine who is the best fit for you and your spouse.

4. Get pre-qualified or pre-approved for a loan

Getting pre-qualified or pre-approved for a loan is the best choice for newlyweds who don’t have enough cash to buy a house.

Both of these options will tell how much you can afford when buying a home. 

When pre-qualifying for a loan, it’s helpful to apply as early as possible, even when you haven’t decided on a specific home to buy. The lender will decide how much you can borrow depending on your financial capability. 

Doing so will make it easier for you to decide on a budget, which means you’ll have more time to look for the perfect home!

5. Evaluate your long-term plans

If you buy an extravagant home that you can barely afford, it will only cause you more harm than good. It’s important to make sure that it is the right investment for you before buying a home.

Many newlyweds tend to buy extremely expensive houses beyond what they’re comfortable with, thinking that it will be their permanent residence—but that isn’t always true!

Since you’re just starting out as a family, it’s better to purchase a home you can afford to live in while you save money to buy your dream house.

At the same time, it’s not reasonable to pour all your finances on major house upgrades if you’re planning to live in it for only a few years. 

Determine how long you’ll keep the house, and make sure it’s a worthy investment.

6. Have a home inspection done 

Once you’ve found a home you’re interested in buying, it’s important to have it inspected. A home inspection can save you from having to spend on unexpected, costly repairs.

If you bought the property without knowing it’s damaged, you’ll be forced to pay more for the repairs than a home inspection would have cost!

It will take a lot of time and consideration to buy a home. So, make sure to carefully plan with your spouse and work together as a team to purchase your new home!

Your first house as a married couple will be part of your foundation in starting a family. It doesn’t have to be grand, but it should be a home where you can comfortably live in. So take your time before you decide on a home. Remember, this is one of the most important choices you’ll make as partners!