So, you have tied the knot, and now you are surrounded by the bliss of being newly married. What is next?

Well, for starters most couples would start scouring for a family home once the honeymoon is over or once the last vestiges of fresh marital bliss fade away. But how do you ensure that you and your spouse are ready to take it to the next level and buy a home? Today, home-buying remains as one of the most significant challenges for unmarried couples who have just opted to shack up, but even tying the knot would not make this process any easier.

Remember, a lot of factors come into play, and before you decide on a home, you need to consider every integral aspect involved in home buying lest you have homebuyer’s remorse after that. So, before you start going head over heels for that pretty little bungalow or fantasizing about growing your family in Cloverleaf, here are some of the things you ought to consider:

1. What is your credit score?

Prior to your married life, you and your spouse probably led separate lives and of course, different bank accounts. Most of what you earn probably went to where your next travel destination was, date nights or movie tickets. However, now that you are married, it might be a good idea to broach a subject that is far less romantic but hinged on your finances: your credit scores.

Ideally, you should have had this conversation already as it determines your ability to qualify for a loan or at least have an attractive interest rate. Knowing your credit score is crucial and is a pivotal step before you meet with a lender.

2. Where would you like to live in five years?

Your plans for the future will drastically affect the type of home that is right for you. Incidentally, so would your loan. If you and your spouse intend to stay put for at least the foreseeable future, it will make sense to have a 30-year mortgage with a fixed interest rate. However, if you have plans on moving within a few years, consider your options. With all these considered, make sure that you factor these into your search for a home.

3. Will one of you stay at home to raise the kids?

After the both of you get hitched, you might stall the discussion of having kids. After all, you just got married, why the rush? However, kids play a crucial factor in determining what type of home you should be looking for. In fact, you can consider it as the cornerstone for establishing how much you can actually afford. If you plan to have kids in the nearby future, not only would this play an integral factor in the size of your home, but it would also affect where your finances will go.

Apart from that, you and your spouse should decide whether one of you would be staying home to raise your kids or not as this would mean leaving work. Remember that would likely slash your income in half, so look into this to anticipate how much of a mortgage you should get.

4. What will happen to the home should the marriage fail?

While it is not exactly an exciting prospect to think about (especially as you are newly married), you would still need to consider all of the possible outcomes for your marriage. This is not to say that you would separate (although, that can be a possibility) but you need to think of how you would divide your assets if you either get hit with death or even divorce.

There is a myriad of types of ownership to choose from when you purchase property with your spouse, and although this is not exactly a good dinner table topic, it needs to be discussed. After all, you will never know what could happen—it is still best to be prepared.

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If you’re thinking about investments, then stepping into the real estate world could be your breakthrough. Real estate in the Philippines has proven to be a solid investment throughout the years. That is why more and more people are into home buying. But whether you realize it or not, there are two end results when you make a decision. It’s either you succeed or failed. Congratulations when you manage to own your dream home. You just made the right choice to achieve want you to want. However, for those first-time homebuyers, buying a home can be an overwhelming experience – and sometimes, they made the wrong choice.

Yes, shopping or a home is an exciting experience, yet it can also be exhausting and a little bit scary. For you not to commit costly mistakes, we list down some common mistakes most homebuyers make when it comes to choosing and buying a property. Here are those:

Mistake #1: Not Educating Yourself on the Buying Process

Never jump into the real estate world if you know nothing at all. This would only give you complications and headaches in the long run. It does not matter if you are a first-time homebuyer or a second timer, you need to know at least the basic when it comes to homebuying process. Perhaps, you can do some research online to educate yourself on the steps involved when buying a property. This is to make sure you will not jump to any conclusions or decisions later on.

Mistake #2: Not Preparing to buy a house

The moment you decide to purchase a home, make sure you have enough savings in your back account. When you have enough budget, then you can afford the down payment, a fee for the inspectors, the attorney, the appraiser, etc. Keep in mind that your money is important when buying a home. Not preparing your finances is one of the common mistakes most homebuyers make. Moreover, if you have enough money, then it would be easier and faster for you to have your new home.

Mistake #3: Compromising on the Important things

This is another mistake most homebuyers make. Keep in mind to consider the most important things you need. For instance, if you are planning to have a family and have kids, do not buy a property that has only one-bed room. This will only lead you to buy another property that would match to your needs. One thing is for sure; you do not want to spend too much for it.

Mistake #4: Neglect to Inspect

Just because the property looks good in the picture, that does not mean it would also look good in person. Before you decide to pay for the down payment, make sure to check the property whether you like the overall appearance of it or not. Not just with the appearance, you also need to balance and think twice if that particular property suits your lifestyle.

Mistake #5: Not Hiring a Real Estate Agent

If you are a first-time homebuyer, it is advised to hire a real estate agent. Perhaps, some of you might think that you need to have a separate budget for their fee and it is just a waste of money. But keep in mind that agents are there to guide and help you achieve your dream home. Moreover, real estate agents are there to make you understand whenever there are things that confused you. Not hiring a real might not be a good idea especially when you are a first-time homebuyer.

Mistake #6: Not Shopping Around

Just because you like a particular property, that does not mean it is suitable for you. Always remember that there are a lot of real estate properties that are available for you. When buying a property, do not stick with only one. You should shop around and consider its pros and cons of each property. If you think that that particular has a lot of pros, then perhaps, that might be the one for you to buy.

Mistake #7: Buying on Emotion

Yes, buying a property can be overwhelming and we tend to get excited whenever we see a beautiful property. Again, when it comes to home buying, you need to think about its pros and cons. That means you are not just going to think on how beautiful the property is, but you also have to consider whether the property is the right one for you.

If you want to achieve a desirable outcome, you must avoid these mistakes mentioned above. Moreover, knowing these things will help you understand what and what not to do when it comes to homebuying.

Joseph Sayaff is a freelance writer in the Philippines. Born in the village of Babupatti (Raniganj) in the district of Pratapgarh. Joseph Sayaff is taking full advantage of writing articles that will help the real estate industry, Amaia Scapes trece martires. Joseph Sayaff is writing since 2006.

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