One of the best investments after your wedding would be settling in a new house for your growing family. While it is true that owning a house is better than spending your money on rental fees, you need not do it without considering a few important factors.
Since a house will probably be your biggest financial investment, you should be answering these two essential questions prior to consulting with house builders in Brisbane.
Are You Ready Financially?
Newlyweds should first establish their financial status. Typically, some couples would think independently and proceed directly to meeting a house broker and avail of a loan later. While this works with a few, experts say that this is a wrong mindset. Mortgage and real estate brokers often approve a larger home loan than you actually want and this is more likely to put you in jeopardy in the long run.
To help you decide, these guidelines may better give you a clearer picture of where you are:
- Have a solid credit score.
- No bad credit history.
- 100% debt free.
Are You Sure This is Where You Want to Live?
Most often, newlywed couples fail to contemplate on the idea of ‘permanence’, which includes the purchase of a new house and its location. The truth is, couples usually stay in their house for at least two years in order for them to make the expenses work out.
As people who are just starting out to live with someone else in one roof, these are the questions you need to ponder. Other questions that should be taken into consideration are ‘Will our occupations keep us in this area? Are we comfortable with the daily commute to and from the house’?
Take pleasure in spending the early years of togetherness without forgetting your dreams of owning your own house. Do not rush, use the moment to strengthen your financial status and reap the wonders of planning for your own house ahead in the years to come.