Post # 1
I am newly married! And DH and I want to eventually buy a home and settle down somewhere. I am 23 and he is 22, We aren’t really in the right place financially to do it just yet, and we haven’t decided where we want to live after AZ. We are both still in school and plan to move once we do finish. So it isn’t time for us to look yet, but it is something that we are both really looking forward too, and I really want us to be prepared for it when the time comes!
Are there any other married ladies out there that waited to start looking into buying a home? And if so, how long did you wait, and what did you do to prepare yourselves for when that exciting time came to start looking??? In your opinion, how do you know when it is a good time?
Post # 3
I just recently got married, and we are buying a house now…..but we lived together for 18 months before getting married and decided to rent for that time. We’re a little bit older than you as well (ok alot).
I can help with a few things though! We started about 9 months before we wanted to buy, by finding a mortgage broker. Talk to a few. We told ours of our goal to buy within a year, and he helped us figure out what we needed to do to be ready. They can help you determine how much downpayment you need, your budget, and can look at your credit to help you plan.
Take your time and figure out what parts of town you like. Start cruising around looking at neighborhoods and talking about what kind of house you both would like some day (new, older, condo, ranch, etc). I started a few Pinterest boards and got some ideas about what I liked.
We felt ready after we’d gotten the downpayment saved, PLUS about 3-6 months of our proposed mortgage in the bank.
Sounds like you guys are in a good place and have plenty of time to figure it out. Maybe set a time to re-visit in a year, and every 6 months after until you feel ready.
Post # 4
DH and I were married for 8 months before we finally got a home. We lived in his apt beforehand. We knew that was the next step we wanted to take, especially since we knew this summer would be hot and the ac in the apt sucked. He is a teacher, and I had just found a very stable job, so we were sitting good financially, which was the biggest thing before buying a home.
We first just went to the bank to see what we could get preapproved for. Once we knew that number we budgetd all of our expenses to see how much we could actually afford (just because we got preapproved for a 400,000+ house doesn’t mean would could really afford it if that makes sense).
Once we found a house we liked we made our offer and worked closely with the bank to understand the home buying process. We packed, moved in, and have never been happier!
Post # 5
@hassle_J: that sounds like a great plan! We are planning to sit down and have our “we’re married now what” conversation today lol. Just to make sure we are the same page with goals and finances. We did this before the wedding, but I think we should do it again and really make sure we have a solid plan! I love the idea of making a Pinterest board! I don’t know what I want in a home so it is probably a good idea to start thinking of it. Since we dont plan to stay in our current city long, but at the same time, we might, and if we don’t we aren’t sure where we will go, do you have any advice for that? Should we look around here to get an idea? And look in other cities we are interested in? Or wait until we have a better idea of where we might go?
Post # 6
We’re going to have to, out of necessity. I need a much better job before we can seriously look into buying, unfortunately, but I’m hoping that we’ll be able to buy during our first year of marriage.
Post # 7
We bought a house 7 mos after we got married. But we are wayyy older than you and we lived together renting for 3 years before the wedding. We were planning to do this for quite a while and DH worked very hard for a few years to get his credit where it needed to be and I worked at paying off debt so we could be in a good place to buy a house. If we hadn’t prepared there is no way we could have bought a house.
Post # 8
As much as we would love to buy a home shortly after being married it’s just not possible. We simply don’t have the money. We plan to rent for a year after marriage (we live together now, figure we’ll stay in the same place) and see how our finances go. We’re both in a bit of a transitional phase of our careers so it’s hard to predict what the next year or two will bring for us.
Post # 9
desiree.0615 : Certainly can’t hurt to know what you like. We had a lot of fun early on in our relationship driving around talking about houses and what we liked/didn’t. That felt frustrating after awhile though because we weren’t in a position to buy, so beware! We also looked at sites like Zillow and Trulia, to start getting a sense for house prices and neighborhoods.
After you finish school and find a city where you both have fulltime jobs, rent an apartment/house and then start exploring neighborhoods. Once you are in a position financially, then have a realtor show you some homes. You’ll quickly learn what you like and don’t like!
Post # 10
We will not be buying a home until FI is done with grad school and we both have secure/geographically and financially jobs. That will be 4-5 years from now, and we’re getting married next year. We are 24/26 now.
Post # 11
We live in a very expensive neighborhood in Chicago. Renting is a much better option than buying. So nope, we will not be buying for another 10 years or so.
Plus, we like to travel so buying a home would essentially be the end of any long term travel plans.
Post # 12
Wow, in our area no one 22-23 buys, it’s just too expensive! And people are still going to grad school (moving for it, etc).
Post # 13
wow, i didn’t realize it was considered “normal” to buy a home right after marriage.
we’re 25/26 and have been married 9 months. finances are tight. we almost bought a house in january, but the amazing deal fell through. now, i’m kind of glad we didn’t- while it was a great deal, our budget would have been incredibly tight.
tentatively we’ll try again in 2 years. fingers crossed. im sick of renting!
Post # 14
We bought our house when we were 24/25, which was a year and 10 months after we got married.
We knew we wanted to buy as soon as it made sense. So when we moved back to Atlanta for my job (the city we knew we wanted to end up in), we started our search and bought our first home.
Post # 15
You’re super young! I would wait a few years, save money, really settle into your identities and jobs first. See where your social lives take you and where your friends end up, location-wise. Ideally, you’ll want to be in a home convenient to work, shopping, hobbies, and friends – and at 22/23 all of that will change a LOT in the next couple of years.
We waited a couple years into marriage, but that put me at 29 and him at 35. Our area is so expensive (San Fran area) that we still needed a gift from FIL to put 20% down on a 2-bedroom townhouse. It will work for us long term, thankfully, which means it was a really smart decision (prices have escalated 15% in just 6 months!).
Post # 16
DH is in the military, so we move every few years. Because of this, we have decided to just not even consider buying a house until after he retires from the military, which will be another 12 years. If you rent wisely, you can save up a TON of money this way. We are fine with it, and by the time we’re ready to buy, we’ll have over $100k in the bank for a down payment. I don’t think there’s anything at all wrong with waiting to buy, as long as you aren’t sinking your whole paycheck into rent so you can’t really save!