How to Buy a House Before Marriage

An increasing number of couples are buying their first home together before marriage. This has been a popular trend for quite some time.

Many couples realize that home ownership is an important part of life. If you are considering buying a home before you get married, you have come to the right place.

Today, we are going to learn some tips that can help you move forward with your dream!

Yes, unmarried couples buy homes all of the time. The number of unmarried couples buying their first home together is on the rise. However, it is suggested that unmarried couples should come up with some type of legal agreement to protect both parties from serious events like separation or death.

How to Buy a House with a Real Estate Agent

Before you go out and look for a home together with your partner, make sure you compare credit scores. Knowing where you stand credit-wise will help you in the home buying process.

Having your credit score on hand will also allow you to move forward with getting a home loan. If both of you have great credit, you will be able to get a loan faster and at a much lower interest rate. This will also help to lower your monthly payments.

What Does It Cost To Close on a House In Michigan?

If your partner has bad credit and you have good credit, you might be wondering how that will affect your chances of getting a loan. For the most part, if you are planning on buying a home together and getting a mortgage together, it could affect your ability to get a loan together.

This can be used to cover the down payment of your new home but keep in mind, you will have to be very clear with the lending company where the money is coming from. In most cases, you will have to provide proof of the gift. This can be a challenging process, but not impossible.

How to Buy a House with Cash

A mortgage has to be paid every month and keeping up with who pays for what is important. Also, when repairs are needed, someone will have to shoulder the burden.

The best way to decide how to manage costs is to split them down the middle. This is a great way to get the bills paid without running into issues.

5 Tips for First Time Home Buyers

Opening a joint account before you buy a home together is a smart move. Having a joint account will allow you to pay important expenses like mortgage payments, home repairs, and anything that is related to the home. It will also help you keep a record of any money spent on the home which is important during tax time. So make sure that you open a joint bank account before you go out and purchase a home.

While this may seem very simple, it can get rather complicated. Most people have their own preference when it comes to home style. Some people love ranch style homes while others like the Victorian look.

There are different ways that unmarried couples can hold a title. Co-ownership can come in the form of tenants in common or joint tenants. Joint tenancy is a very common option and it gives the rights of survivorship.

This is very important if something seriously goes wrong. Also, this will help protect the surviving partner and their right to stay on the property.

Before you go out and look for the house of your dreams with your partner, it may be advised to speak with a real estate attorney. He or she can help guide you through the legal process of buying a home.

So if you are confused about how to buy a house when not married, this will help clear some things up. Remember, it is better to be informed of your rights before you go out and sign a loan than not.

An agent can not only help you find the perfect home, but they can give you professional advice too. While they are not lawyers, they have a wealth of knowledge that you can use to your advantage.

If both partners are going to be on the home loan, each of you will need to attend the closing. There will be a lot of paperwork that needs signing before you can get the keys to your new home.

Remember to bring all the necessary documents and your identification cards to help speed up the process. Closing on a home can be very exciting and both partners should be able to enjoy the day.

If you are wondering how to buy a house while not married, now you know many of the important factors. Remember to seek the advice of both a real estate agent and a real estate lawyer. By doing so, you are getting the best advice possible. If you are excited about owning a home with your partner, why not get the process started today?

Complete Guide to Buying a House

The best source of information about local communities and real estate topics is your real estate agent. Give Joshua Norber of the Norber Real Estate Group a call today at 248-785-3737 to learn more about the area, discuss selling your house, or tour available homes for sale.