A Couples’ Guide to NY House Hunting & Moving

new-york-moving-couplesBuying a first home together is a huge moment in life for any couple! While it can be very exciting to buy your first New York home together, entering into home ownership involves a lot of steps before you make the big leap. As a couple, you’re going to need to assess and make many important decisions when entering into this process. Both people in the relationship are going to need to look at what they desire in a home, consider their budgets, evaluate timelines and more in order to be successful. There are going to be more than a few big choices to make when it comes to purchasing your first home, and Molloy Bros. Moving & Storage can help! What do you need to consider as a couple?

Your Finances

Purchasing a home is such a large financial investment, so it’s important to be realistic and grounded about not only your budget but your income. You must be absolutely transparent about any debts, bankruptcies, and your finances before starting to look for homes.

The nicer a home is, the more you’ll end up paying in taxes, so the costs go beyond the upfront cost for the home. If a home needs to be fixed up, that will also require additional finances. If you have savings in addition to your budget for a home and a steady job, that is a different situation from having just enough to pay for the home and relying on future paychecks to pay the mortgage. Also consider what type of mortgage you’ll be able to secure and how much that will cost as well.

Be Realistic about Your First Home

Your first home is not always going to be the place you stay in forever. Going for your dream home can often spell disaster. The end goal is to have a home that offers shelter and that you like. Get a home that satisfies what you need in a home and don’t get ahead of yourself budget-wise. You can always move into your ‘dream home’ a little ways down the road. Don’t endanger your finances by going too big, too soon.

Consider the Future

Do you not have children yet but are planning on having them? Consider where you are as a couple and where you’ll be in the future. If you have a home that is just large enough for a couple but would be crowded with a baby, will that work for you? If you want to stay in your home for a while and definitely will have children, also consider the area, home size, schools near you, and if your home could possibly be expanded or renovated.

Get Help

When you get help from people who know what they’re doing, it can save a lot of time and hassle. A reliable real estate agent who knows what they’re doing can help you find a great home in your price range. They’ve already helped hundreds of couples find a home, so they’ll know what you’re looking for and how to deliver up great options up to you so you can see what’s out there. Real estate agents also will have inside information about value, property availability, and pricing, as well as be able to negotiate a lower price for the home’s purchase for couples. This can save you thousands. They’ll be able to show you red flags and in the end, process all the paperwork so that the home will finally be yours!

Don’t Impulse Buy

Couples may be tempted to fall in love with the first home they see. See multiple houses before making a decision and don’t impulse buy the first house you see. Assess all the homes you look at, have them inspected, and evaluate all your choices thoroughly before moving ahead into a decision. An impulse buy is not always a poor purchase, but the odds are not in your favor.

Moving

Once you have made the decision to buy a home as a couple, you still need to pack up everything and move it into your new home! Hiring professionals like Molloy Bros. can save you a lot of stress and fatigue. Leave the process of boxing, moving, wrapping, lifting, and installing your belongings to professionals and save yourself the exertion, leaving you free to enjoy your new home together! Contact us today for all of your moving needs!

Defining Rights

Unmarried couples are increasingly purchasing homes together, and while your relationship hopefully will last forever, unmarried couples need to be especially careful to define rights and duties for their home. Property rights for unmarried couples are not as clearly defined as those for married couples. Consider getting a legal agreement that defines rights and responsibilities for both of you and come to a written agreement that outlines what happens to the home should something happen to one of you.

Buying your first home as a couple is an exciting step! It can be a grueling process, but if you work together, you can find a great home in New York that is perfect for starting your new life.

Molloy Bros. Moving & Storage can keep your New York move as easy and stress-free as possible. Read through our many other moving tips, or contact us to get started today!