You’ve just celebrated the best day of your life. You and your loved one exchanged wedding vows and spent the perfect honeymoon in a luxurious hotel. Now, what’s next?
It goes without saying that couples are expected to follow a standard plan: getting engaged, planning a wedding, getting married, buying a house, then starting a family. Although a bride may know exactly what she wants for her wedding day, from the venue and guests to the last details of flowers and colors, the newlyweds may have a hard time deciding on a place to live.
Before settling in your new place as a married couple, here are the top 3 factors you should keep in mind:
Buying vs. Renting
Buying a house straight from the altar is a great thing. But if you cannot afford to buy your own place just yet, then renting an apartment, townhouse or single home is also a fine option.
- Money for downpayment. If you have saved enough to pay for down payment, then go ahead and purchase it. If not, you may need to rent and wait until your bank balance is higher.
- Job security. Is you or your spouse’s job uncertain? If you see your company potentially laying off people in the near future, do not immediately jump to home ownership.
- Planning to move out in the next 5 years? Keep renting. According to statistics, today’s market will not see so much appreciation. Buying a home as a short term investment is not a good one.
- Growing careers. A promotion might force you to transfer to a new territory. Consider renting first.
- Starting a family. You do not want to buy a house you will later outgrow. Consider how many children you want to have and foresee the space you need before buying one.
It is very essential to find out if the new location works for you. Here are certain aspects that will help you decide if the location is advantageous or disadvantageous:
- Distance from work. Is it merely a drive away or do you have to take multiple rides to work? Do you feel comfortable with its distance?
- Crime rate. Although crime is virtually committed anywhere, choose locations where crime rates are low. Use online sources of crime information to see what sorts of recent incidents have taken places near the addresses you are interested in.
- Schools. If you are planning to have kids, it would be helpful to check ahead as to what school district you want to send them to. What reputable schools are available in the neighborhood?
- Neighbors. Do you want to live near young families? Are you open to the idea of having close relationships with your neighbors? Do they jog early in the morning like you do? See if your lifestyle fits into most of theirs.
- Distance from interstates. Living near interstates is convenient because it means easy access to restaurants, shopping and other entertainment. However, this also means increased traffic.
Type: Single family home, Townhouse or Apartment?
Finding a home is a stressful process and takes a lot of time. To shorten the time, it is better to decide first on what type of home you are looking for.
Rules - How many rules are you willing to follow? Are you willing to stay quiet at night, mindful of your noise level during the day? Or do you want to be king of your space?
Responsibility - How willing are you to take on extra responsibilities like mowing the lawn, cleaning the yard?
Privacy - Are you always at home or are you often out? How close do you want to be with others? How much privacy do you need?
Single homes usually involve responsibilities such as mowing the lawn and keeping the yard clean. You have the privilege of not hearing what your neighbors have to say through the walls and you can play music anytime of the day.
You can choose townhouses if you value a bit of privacy but follow a rule or two because you don’t want your neighbors angry. Some townhomes have amenities in their community like swimming pools and tennis courts.
Apartments go for newlyweds who are very busy. You don’t need to mow the lawn or the parking lot. Everything is taken care of for you. Friendly utility men are around to help you with technical problems of the apartment.
Making the Decision
Just like weddings, choosing a home should be carefully planned. Don’t worry if it would take time. Don’t rush into it. With the factors written above, carefully consider every aspect before sealing the deal.
Author Bio: Based in San Diego, California, Melissa Page is a professional writer and marketer who works alongside successful companies such as Lincoln Property Company. When she is not writing, she plays bowling with her friends