For some couples nowadays, priorities have changed. While some others save up for their dream destination weddings and extravagant honeymoon, some choose to invest first in their first family home before tying the knot. Many couples want to experience living together before marriage, making a proper ground for buying their own home before they exchange vows.
The question is, when is the right time to buy a house?
Like all other major decisions in life, there is no single answer for this. There are numerous things to be factored in, depending on both your finances, lifestyle, and priorities.
Identify your priorities
If your concern is between the wedding or the house, it is important to assess which comes first in your priority list. Getting both at the same time can drain your finances and your time, so you may want to consider doing it one after the other.
If you are planning for a lavish wedding, your preparations for it would most likely demand most of your time. One thing you need to avoid is having to go to open-houses on the last minute or meet with agents after a draining day of wedding preparations. You wouldn’t want to compromise your decision making by juggling two major life events, right?
On the other hand, once you’ve set foot on your priority of having a house ready for your married life, you can proceed with going to open-houses, comparing loans, and processing all the needed requirements for acquisition.
Starting the marriage sooner
Purchasing your house before the wedding bells starts the marriage sooner. Upon receiving the keys, you’ll be able to start living together and create a bond even before your big day. This is also a great opportunity to know more about each other and discover how living together could strengthen your relationship.
Photo courtesy of Pinterest
Talk about your finances
Before settling down, it is a must for couples to discuss money matters. Transparency is very much important here, as it may put you both on a bigger risk if you don’t live up to your financial commitments. You must talk about how you both handle money, how you save and spend, as well as your current debts, if applicable.
When deciding to buy a home already, you should also talk about how you would go with the amortization, as well as other costs that come with it.
If you’re not confident about it yet, you may want to grow your career or business first to be able to save up for your dream family home. At least prepare 20% of your total property price as down payment and ensure you are both financially stable to shoulder the costs of having your own house.
You may also want to consider purchasing a land first where you can build your dream home in the future. Antipolo has great properties for people like you. Enjoy amazing views and a Baguio-like weather while still being close to the Metro. Interested? I’d be happy to help! For inquiries, contact me at 0927 957 2503 or shoot me an email at danielantonalleje@gmail.com.📲
References
Before or After Wedding Bells: When’s the Right Time to Buy a House? (2020). Retrieved from https://www.lamudi.com.ph/journal/wedding-couple-when-buy-house/
Should We Buy a House Before or After the Wedding? (n.d.). Retrieved from https://www.bhgre.com/bhgrelife/buy-house-wedding/