Things to consider when purchasing real estate as newlyweds
Getting married is a wonderful experience that most Australians look forward to achieving at some point in their lives – to find the one that completes them, tie the knot and settle down for a long, loving life of matrimonial bliss. However, after the bouquet has been thrown and the cake has been cut, settling down can seem like an overwhelming daunting task.
After all, the mere fact of saving up for a deposit alone – especially after the expenses involved with a wedding – can be huge. But it is doable. Here are some tips to help you and your new life partner get down to finding the perfect spot to raise a family and create memories that will last a lifetime.
Two heads are better than one
One thing that can often cause tension early into marriage is the concept of making joint life decisions. Up until this point, you've had pretty much complete autonomy over your life decisions and the consequences of these choices. But now that you're married, it's important to remember that you'll be making decisions as part of a team – especially when it comes to purchasing Surfers Paradise property.
Sitting down as a couple and going through you lists of wants and needs can help you to reach a compromise and – hopefully – a set of property characteristics that will keep both of you satisfied moving forward. Be sure to discuss every problem, no matter how minor – if left unchecked, these are the ones that could potentially snowball into conflict later in life.
Property is a huge investment. Staying cool and calm with your partner and being open with your feelings will help you streamline the process and allow you to find the perfect property for raising a family with ease.
Give some consideration to your future
Due to the proportions of purchasing your own slice of real estate in Surfers Paradise, it's likely that you won't be moving for a long time after buying. Therefore, it's important to consider the future and all the variables that could cause headaches further down the track. For example, while purchasing a small studio apartment may be your dream, consider the practicality of raising children in such a confined space.
Furthermore, when it comes to children, thinking about their future development is also an important thing to consider. When buying property, make sure you look into the local kindergartens and schooling options so that when they reach the appropriate age, there are plenty of good options for you to investigate and consider. Education is an important part of the child's formative years, so taking this to heart when looking for a home is a must.
When it comes to finances, purchasing isn't a race
The worst thing young couples can do is too much too quickly. Purchasing a house isn't a cheap endeavour, especially for a recently married couple. Taking your time and saving up the appropriate amount while establishing a strong financial foundation is essential to the successful, healthy growth of your family.
Therefore, if you're unable to afford a property on your terms, it could be better to simply pass on it altogether and wait. Pursuing something that's out of your reach and getting lumped with a huge debt that you struggle to repay will ultimately help no one and can even cause problems later on in life.
Get in touch with a local real estate agent to gain some insight into the local market and begin discussing the best options available to you and your new partner. Knowledge is half the battle and figuring out where you stand will be immensely useful when you're looking into purchasing property.