The decision of buying a home stems from the several shortfalls that your current home possesses.
Your partner and you feel that you should now move to a better house, which would not only be free from the current shortfalls but will also have several other additional features.
Before going on house hunting, it is important that you should sit with your partner and discuss how you would like your new house to be. Your discussion should include the following points:
Which is more important: neighborhood or in-house facilities?
For some families the neighborhood plays a more important role than in-house features. Families with kids, or couples, who soon plan to have kids, focus more on the availability of parks, emergency healthcare, and proximity to schools. Alternatively, couples without kids generally want to have a spacious bedroom, well-equipped TV room, gym, etc.
Be ready to compromise
Mostly, you and your partner will have to compromise on some points. If neighborhood is the priority, you may find that a house with all the desirable features is overpriced.
In such a situation, you could look into other types of houses in the same neighborhood that may lack some features but are affordable. For those, with in-house facilities as a priority may have to settle at a location that is farther from their workplaces.
How much you should compromise for your partner’s sake is up to you. Are you willing to travel more than what you do now?
What to do when there is no scope for a compromise?
For many couples, it becomes impossible to reach a compromise. In such a case, going for a loan is a viable solution. You could approach either your bank for this purpose or a lender. Your credit score will play a key role in this regard.
If you have a strong score, you are likely to get a low-interest rate loan easily. For bad credit scorers, approaching a lender may be a better option.
