It’s no secret, weddings are expensive! From the minute she gets that diamond on her finger, a bride-to-be will spend many months planning her prefect wedding. And after its all over, the newlyweds realize they spent their entire engagement anticipating that big day and not the part that truly matters, the happily ever after—their marriage.
And what is an essential part to a good marriage? A happy home!
We live in a time where so many couples are living together before marriage, it’s easy to overlook the direct connection between starting a life with you significant other and buying your first home together. Once you’ve settled in your forever relationship; why not establish some roots together?
Sure, house hunting and thinking about mortgages and finances are stressful. Let alone, buying a house and planning a wedding at the same time can be extremely overwhelming. No matter which phase you are in with your relationship, I have assisted couples that are newly engaged to newly married. I’m here to tell you there are so many perks to embarking on homeownership at the start of a marriage.
Starting the house hunting process while simultaneously planning your big day is a great indicator of what types of items you’ll want to include in the wedding registry. You’ll know the style you want, the type of storage space you’ll have available and most likely you’ll pick items you actually need or use. They say two is better than one, so if you’re currently renting based on your own individual income, chances are with your partner’s added income, you’ll be able to afford a decent home. You could use the eliminated rent payment to put towards a down payment or add it to your wedding budget.
Buying a house is a potential long-term investment that is going to need to satisfy both of your checklists. While a groom may not care about the wedding planning details, he will definitely be more in tuned when looking for a home. With the lengthy process of house shopping, you’ll get to spend quality time with your fiancé away from the overwhelming details of the wedding. That is why your wedding planner will be a lifesaver to help you balance all the tasks and preparations required for a smooth wedding day. It’s a celebration you’ll both should enjoy!
When buying a home, you want to work with a mortgage professional that is going to have your best interests at heart. Financially, it can be frightening: the down payment, the interest rate, the monthly mortgage, etc. However, a loan officer who excels at his/her job is going to introduce you to a program that fits your needs. There are low down payment and first-time homebuyers programs and ways to budget and accommodate both your wedding and new home expenses. It’s a common misconception that a large down payment is required to be a homeowner.
Keep in mind, you are technically building credit by paying your rent each month, in reality it’s just a check you’re handing over to your landlord. Buying a home is something that will benefit your future. It’s an investment and building equity. It’s a place to call your own, where you don’t answer to a landlord, feel free to paint white walls, no more pet policies! Having a home will allow you to settle into your own style.
To sum it up, buying a home does not have to be more expensive than renting. Therefore, it shouldn’t take away from budgeting you have set our for your wedding. It is financially possible to have the wedding and the house of your dreams! Contact me to learn more about how I can help you with both your wedding planning and home buying needs—I am your Wedding Realtor!