Post # 1
I’m having a huge internal debate. FI and I have been talking about maybe buying a house. We have all the money we needed to save for the wedding in savings, and we have enough for a downpayment, with some left over. Our mortgage would be significantly less than our current rent, for a lot more space.
Does anyone have any thoughts about buying a house while also planning a wedding at the same time? Bad idea, or does it not matter??
Post # 3
We’re in the same position! I say buy if you can. The only reason we’re maybe not buying is because we don’t know when we’ll have kids, want to move to another town, etc.
Post # 4
We’re going to be in the process of closing on our house during the month of our wedding. I say if you guys are ready in every other way but timing- go for it. Things may get a little hectic, but it’s worth it IMO.
Post # 5
A house is a great investment, if you can afford both now then I say go for it.
We bought our house way before even being engaged so we didn’t have to deal with wedding + moving which I am happy about since so much work was required for both. I would just try to avoid buying a house in the last few months before the wedding so you don’t have overlapping DIY projects going on.
Post # 6
In the same boat as you. FI and I are in the process of buying a house right now and I feel SO GUILTY because we are spending money that we offered to my parents for the wedding as part of our downpayment. The day we signed the offer, I cried and cried because I felt so awful and guilty.
But your situation sounds a lot better than mine, so I say go for it! Especially since you’re not getting married for another year, I say the sooner you get it over with, the better. That way, it’s not hanging over your head when it’s crunch time. If you are able to buy a house, absolutely go for it. It’s like putting money in the bank (in comparison to renting).
Post # 7
We did this last year when we were planning our wedding. I’ll tell you, we were EXHAUSTED from both things, but we worked out a system – he was in charge of all things house, and I was in charge of all things wedding. It worked out okay! It was definitely nice to have a house to come home to after the wedding, though! 🙂 I say, go for it!
Post # 8
I didn’t vote (sorry!) because I think it depends on your situation. I actually bought a home on my own while we were engaged, but for us- since we were having a 2 year engagement- it didn’t seem like it was too much. We’ve been in our house for over a year, and still have about 6 months to go until the wedding 🙂
In your geographical area, houses are CRAZY expensive, so a big part of me thinks that if you’re in a position to buy now, you better take advantage! Are you still a year out from your wedding? I think that is plenty of time to get settled into the house & make sure insurance/taxes/utilities are manageable before the wedding.
Oh, and the biggest thing I can suggest having gone through the homebuying process recently- get preapproved before you step foot into a home. It is the one and only thing that got us our house over the people we were bidding against. We had our preapproval letter and our offer was accepted because the other party was waiting on their approval to come through.
Post # 9
If you can afford both go for it. I dont think the “stress factor” is very high. The biggest sort of stress imo, the money, is apparently not there, so the rest is easy. We did the house hunt, planned the wedding, took 2 night classes for our masters and worked our full time day job…. no problems, it just kept us busy and on our toes!
Post # 10
We bought, closed on the house and were married 10 months later. We got into bigger, owned space then we were paying for a rented apartment, it just made so much sense to us! I don’t even think we had ever talked about an engagement prior to purchasing the house, just knew it would happen eventually and the house seemed like the best choice for us first.
Post # 11
IT doesnt say you identified the house yet, so I say you keep your eyes open and if you find the right one you look at the timing of the closing and make sure it doesnt prevent a honeymoon and makes ure if it needs renovations you can do them after the wedding etc then you make the decision to buy.
Post # 12
We did it! It was stressful at times trying to juggle both things, but so worth it! If I had to do it all over again, I still wouldn’t wait.
Post # 13
My FI and I bought a house in December while we started planning our wedding. It was a busy time but SO worth it!
Post # 14
Wow, thanks for the advice everyone! Overwhelmingly buy… interesting! I have this knot in my stomach where I’m afraid to commit. Like DaneLady said, my area is ridiculously expensive (I found townhouses in my current neighborhood where I rent listed for $900,000. A townhouse!). It makes me really nervous to commit to a house right now (even though we both have good/stable jobs), especially when the wedding is looming over me. Everything is expensive, and money freaks me out. While I know we have a good downpayment saved up, it’s still a lot of money to suddenly disappear.
Ugh, anyone have a crystal ball I can use to see what works out in the future???
Post # 15
@abbie017: Talk to the bank, get preapproved, and start looking. Because you’re still a year + out from your wedding, you could very well find and purchase your new place way before the wedding. And if it’s too stressful, you could always take a break from the house hunt. If your mortgage would really be cheaper than rent, which is crazy to me if townhouses are 900k, then you’d be silly to wait on buying. There’s always a risk involved, but that won’t change no matter when you buy!
Post # 16
- Wedding: October 2011 - Bed & Breakfast
You have plenty of time to house hunt, purchase, and move before your wedding. As long as you can afford the down payment, closing costs, and wedding with at least 6 months of regular living expenses left over at the end, go for it. Interest rates are great right now. We’re looking at 3.8% with no points! There is a very good chance that once they go up, we will never see rates this low again. Might as well get while the gettin’ is good!