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Creating Your First Home Together
Getting engaged is an exciting time as you and your partner make the
commitment to journey through life together. And although wedding and
honeymoon plans are important, eventually everything begins to settle and
you start to think about your new home as a couple. After the wedding, many
couples decide that the time is right for them to buy a house. Below is a seven step
process that will ensure you and your partner are as happy with your new home as
you are with each other.
Step 1
Deciding what type of home to buy.
Choosing a type or style of home has a lot to
do with lifestyle, it involves location, the
amount of space required, and the amount
of time you want to put into maintenance or
renovations. Before you begin to look for a
home, spend an evening making a list of
desired features for your new home. Ensure
that you each make a separate list.
Step 2
Talk through the differences. Once your lists
are complete compare notes so that you can
achieve your ideal home. It is important that
you discuss the different expectations so that
you have a common understanding and
image of a home you will both be satisfied
with.
Step 3
Can you afford it? Before you start to look for
your new home make an appointment with
a mortgage broker or banker to review your
collaborative financial situation. Based on
this evaluation they will indicate the
maximum mortgage you will be approved.
Ensure that you factor in your other monthly
expenses and your overall financial plan so
that you don’t overspend on your new home.
• Tip 1: Hold Off. Before you buy, hold off on
getting a car loan or making any furniture
purchases, as any big expenditures on
credit will reduce your buying power and
hurt your credit score.
• Tip 2: A down payment alternative. Saving
for a down payment can be tricky when
you are trying to plan and pay for a
wedding. A new idea is to skip the usual
wedding presents in favour of a down
payment registry.
Step 4
Ready! Once you have completed your due
diligence, call a real estate professional that is
a Buyers Specialist to represent you in your
home purchase. This agent will work on your
behalf to find properties, arrange showings,
monitor the market, and connect you with
mortgage brokers. The agent will also work
on your behalf to negotiate the best price
and terms.
• Tip 3: A Buyers Specialist is Free. There is
no cost to use a Real Estate Professional, as
the seller is responsible for the fee.
• Tip 4: Watch the Market. If you are
interested in current market updates visit
www.thecalgaryrealestateblog.com.
Step 6
Ugh… packing and moving can be stressful
and time consuming. Before you move, make
sure that you sort through your own items to
eliminate duplicates; have your partner do
the same. This will reduce the hassle of
moving unnecessary items and will make
moving day a more enjoyable process.
Step 7
Kick up your feet and relax; The wedding
is over and you have moved into your
new home. Take time to enjoy your new
spouse. ■
Rebecca and Jared Chamberlain
The Chamberlain Realty Group
www.chamberlaingroup.ca
2009 Bridal Fantasy 163