Advice for couples looking to take the property plunge
Married couples often have the upper hand when it comes to buying property. Thanks to combined incomes and higher spending power, coupling up can take you one step closer to purchasing your dream home.
However, there are some important differences in the home-buying process for couples and singles. With this in mind, global property portal Lamudi has provided a cheat sheet for newlyweds and other couples looking to enter the real estate market for the first time.
Look at both your finances
If you and your spouse both have a good credit history, your chances of qualifying for a mortgage increase. By pooling your combined income, you will be able to afford a larger down payment and get a better deal on your mortgage. Be honest with your partner about your credit history – from any existing credit card debt to outstanding students loans – so you are well-equipped to approach a financial institution.
Consider going solo
If one partner has a lower credit score, you might need to consider applying for a mortgage without your spouse. The …read more
Read more here:: Just married? How To Buy Your First Home In Africa