The proposal is history and it seems that wedding plans are taking up every free minute. You have the hall, the caterer, the music, the flowers, the guest and seating list... the details can be overwhelming, but there may be one thing you should focus on most even in the hectic wedding planning stage.
Where will you live when you begin life together? Will you come back from your honeymoon to stay with parents, consolidate everything in the bride
or grooms apartment or will you be lucky enough to move right into your dream home?
When considering your living accommodation after you're married, there's nothing quite like owning your own home together. It's not yours
or mine; it's ours, and maybe a place to start a family.
If you are lucky enough to have received money for a down payment as a wedding gift, or one or both of you owns a house or condo you're considering selling to trade-up to a family home, it's really worthwhile talking to a mortgage expert before you talk to the real estate agent.
Gathering relevant financial information is your first step to home ownership. Before you fall in love with a home, you'll want to know that
your financing has already been arranged, and the following questions have been answered:
How much can we afford?
What's a comfortable mortgage payment for us?
What are the additional costs?
How fast do we want to pay down our mortgage?
In fact, many real estate agents may encourage you to get a pre-approval before they begin working with you; and, when you have your mortgage
financing arrangements in place it indicates to prospective vendors that you are a serious buyer. It also gives you the security of negotiating a house price that falls comfortably within your budget.
About The Author...
In Canada, consider applying for a CIBC Pre-Approved Mortgage Certificate and shop for your first home together with confidence.