Home advice for newlyweds: how to choose the perfect house

“Just married” is one of the most beautiful things to hear. By saying your vows to one another, you expect to live a long life together, with both good and unpleasant times. But after the party is over and the honeymoon ends, you’ll need to come back to the reality that you are both adults and need to find a home. That’s not an easy task since the average UK house prices increased by 10.3% in November 2022. However, it is expected that 2023 will bring us a 7% price fall. 

When it comes to advice for first-time house owners, it’s necessary not to underestimate financial considerations and have a well-made plan on how the future will look for both partners. The research part can also be tremendously slow and frustrating when you’re not finding what you’ve wished for, but when you embark on this journey, you must be prepared for anything!

Know what to prioritise 

Before talking about money, it’s necessary to have an approximate plan for what your future will look like and make a priority list. Doing this can help you save money and make the best choice according to the place where you want to make the purchase. It’s best to create a set of questions that can guide you in the process, such as the following:

• Can you commute every day, or do you prefer to live close to your workplace? You can also consider the possibility of one of you changing jobs on the go so that even if you do, you still have accessible ways to get there easily;
• Are you planning on having kids in the future? Moving from one house to another can be challenging, so if you want more family members around, maybe it would be best to buy a bigger house in the beginning that can satisfy everyone’s needs;
• Do you know how the neighbourhoods are around? Learning things about crime rates, unwelcoming areas, or lack of essential places will make the difference between being safe and having to change houses (don’t get fooled by extremely low prices);

Learn about the buying schemes 

People rarely have all the money in cash for a house these days. Therefore, the government usually provides a range of schemes that allow you to get a property with less financial effort. However, preparing to apply for a mortgage and getting all the documentation in place can be tiring.

You can buy a home through:

• Help to Buy: Equity loans provide you with complete ownership, and you’re required to have a deposit of at least 5% of the entire property and contribute up to 75% mortgage;
• Help to Buy: Individual Savings Account (ISA) is the perfect choice for a first-time buyer. The government can help you boost your ISA savings by 25%;
• Shared ownership can help you get a house if you can’t afford deposit and mortgage payments by buying an initial share of the house and then paying rent to the housing provider;

Some other expenses you need to consider besides the actual price of the house include stamp duty, surveys and many additional fees, such as conveyancing. It’s best to be prepared before getting an unexpected cost, so you may want to get a professional’s advice. 

Research thoroughly 

The next step can be the most tiring because you’ll have to go through all those houses and agencies. Getting the hang of searching for the perfect home will take some time, at least until you notice the competitive property prices in the UK. This step will also help you answer the question of how much you are willing to invest in the house after buying because you may be tempted to buy an unfinished one at a lower price and consider remodelling it. However, this can take some time, but you’ll be the one to decide which solution is best. 

You need to be very cautious of the accuracy of what you see on the internet. Therefore, you’ll need to go and see the place and analyse it thoroughly before making an impulsive decision. Always check the roof condition, the HVAC system or if there’s any water damage or mould around the property. If you’re able to detect such problems, you can save a lot of money that would’ve potentially gone to repairing fixtures. 

Don’t hurry 

If you’ve just gotten married and are pressured by time because a baby is coming or you really need a place to stay, it can be easy for you to take whatever is affordable on the market right now. However, when thinking long-term, you may want to take it easy and look for a property that can fully satisfy your needs, even if it can be a little more costly. Sometimes, even homeowners can take advantage of you being cornered in a certain situation and pressure you or lower the price when the property’s condition is in a bad state. 

Maybe you can rent a place for a while, at least until you’re slowly becoming more financially stable and get to know more about the market near you. At the same time, the prices might decrease if the economy declines, which can affect you if you haven’t got some savings and a secure job. If you are patient enough for the mortgage rates to go lower, you might get a better offer, but you need to constantly check these elements and analyse reports on a certain period to be able to expect a surge or downfall in prices. 

Wrapping up

As newlyweds, you might still have your heart-shaped sunglasses on, but you’ll have to take them off and face the reality of the real estate condition. It’s best to be financially prepared and start saving up so that you can be prepared for your first house purchase, regardless of the method you choose to do it through. Lastly, get knowledgeable enough to avoid scams and have enough patience because this is how you will own the perfect place.