Newly Married Homebuyers: Steps in Buying Your First House Together

buying your first house

Life is amazing. It comes with several ups and downs and many phases. Getting married is one of the phases. Meeting your soulmate is out of this world with whom you can share all your feelings, enjoy every moment. It also involves many dreams. One of the most beautiful dreams is to build your dream home.

Building a perfect home is like a dream come true. Before moving to a new home, you dream of many things. You wanted the most lavish house with the best pieces of furniture, the best interiors in it. Your home should be in the best locality and many more. But budget plays a vital role in building your perfect home. You plan a lot and make a budget to save more so that more you can invest.

According to Forbes, the average cost of building a home in the U.S. is $150 per square foot. Around $300,000 is spent on average to complete the house.

How to Budget for a house?

There are several ways to plan your budget and build your dream home faster. You can look for Senator Elizabeth Warren’s rule of budgeting called the 50-20-30 rule in her book entitled All Your Worth: The Ultimate Lifetime Money Plan. According to the rule, if you allot 50% of your net income to your needs and 30% to your wants, you will save 20% straight away. It is a simple rule to plan your financial goals.

It requires a big budget to plan a house. This is because the cost of the basic things is also huge. The average cost of installing a door or lighting fixtures comes around $5,000 to $20,000 and $2,000 to $12,000, respectively.

The foundation, framework, and plumbing installation are among the essential aspects of home construction. For this, you can go with a few essentials like a portable light tower for construction and a boom lift.

buying a house

Here are some most Popular categories of houses in the U.S.

  • Cape Cod Houses: This type of house is low squat-shaped with a single frame and pitched roof. The main feature of Cape Cod Houses is the large fireplace located at the center. The price of the cape code has increased with a high number. In Chatham, the average sales price is $1.78 million.
  • Ranch Houses or Rambler houses: It is a single-floor house with very high ceilings. These houses come with a lot of open space. The national average cost of a Ranch house comes between $2,000,000 to $6,000,000.
  • Colonial Houses: It is built-in simple, traditional style. Colonial-style houses mostly have two or three floors with a fireplace. It is rectangular and symmetrical. The average cost of building a Colonial house depends on many factors like the materials, locality Etc. The average construction cost begins at $300.00 per square foot.
  • Contemporary Houses: Contemporary houses are currently the most popular style of the 21st century in the U.S. You can choose the different types of interiors and sizes of the house according to your budget and needs. The average cost of buying a house is around $200,000 in the U.S.
  • European Houses: This type of home comes under the expensive category and is inspired by European architecture. The design is the modern version of Tuscan villas, English Manors Etc. The average cost of a house for a single-family is $122 per square foot, according to Statista.
  • Tudor-style Houses: It’s a single-floor house with a steep roof, high and narrow windows. It resembles the Cape Cod houses. It also comes under the expensive category. You may have to pay $1 million or even more for Tudor-style homes.

Things to Remember Before Building a House Together

When buying a house with your spouse, there may be a chance of having an opinion conflict. There may be different desires and dreams of both. You can build the home of your dreams without any conflict by following some simple points.

  • Don’t mix your emotion with your budget: While deciding to build your home, always think practically.
  • Researching the locality: You should explore all the localities where you consider your house should be. It helps you select those places which are near the market places and other things in best reach.

Moving in with your partner in a house according to your needs and desires is such a beautiful feeling. Each day is like a happy day. You decorate the house together, cook together, watch movies together, and create lots of beautiful and romantic memories. Sometimes fights and arguments also take place, but you resolve them with your love.

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