𝐒𝐢𝐱 𝐌𝐮𝐬𝐭-𝐀𝐬𝐤 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐂𝐨𝐮𝐩𝐥𝐞𝐬 𝐁𝐮𝐲𝐢𝐧𝐠 𝐚 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐓𝐨𝐠𝐞𝐭𝐡𝐞𝐫 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡𝐚𝐦𝐩𝐭𝐨𝐧

Buying a property with a partner can be an exciting next step in a relationship.

Swapping paying rent or living with family for cosy nights with your beloved in your own home can be a blissful prospect.

But before you arrange a series of viewings in a giddy rush of excitement, it’s worth sitting down and talking a few things through with your partner.

Purchasing a property is a huge commitment, yet most couples spend more time planning a holiday (7.8 hours) than planning their home search (5.5 hours).*

Getting some of the practical stuff nailed down early on will help you focus your search efforts and avoid arguments along the way.

Some of these questions may seem awkward, but once you’ve got through them, you can get on with the fun of searching for your new home together.

𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐢𝐱 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐚𝐬𝐤.

𝟏) 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐲𝐨𝐮𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐬𝐢𝐭𝐮𝐚𝐭𝐢𝐨𝐧? Many couples shy away from discussing money matters, but it’s essential you both disclose your income, savings and debts, as this will affect how much you can borrow.

𝟐) 𝐇𝐨𝐰 𝐰𝐢𝐥𝐥 𝐰𝐞 𝐬𝐩𝐥𝐢𝐭 𝐨𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩? Most couples opt for a straightforward 50/50 split. But if one party has a larger deposit or earns significantly more, some couples strike a different arrangement.

𝟑) 𝐇𝐨𝐰 𝐰𝐢𝐥𝐥 𝐰𝐞 𝐬𝐩𝐥𝐢𝐭 𝐭𝐡𝐞 𝐛𝐢𝐥𝐥𝐬? Agree on how you’ll cover mortgage repayments, council tax, utilities and food. Having some funds in reserve is also good, as you’ll be responsible for maintenance and repairs in your new home.

𝟒) 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐲𝐨𝐮𝐫 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐩𝐥𝐚𝐧𝐬? You’re obviously committed to each other, but it’s still important to explore where you see yourselves in five or ten years. If you plan to have children or get a pet, this will influence your choice of property.

𝟓) 𝐇𝐨𝐰 𝐦𝐮𝐜𝐡 𝐃𝐈𝐘 𝐚𝐫𝐞 𝐲𝐨𝐮 𝐩𝐫𝐞𝐩𝐚𝐫𝐞𝐝 𝐭𝐨 𝐝𝐨? A doer-upper can be a great investment if you’re willing to do some of the renovation work yourself. But DIY can be messy and time-consuming, so it’s vital you both know what’s involved before you go down this route.

𝟔) 𝐒𝐡𝐚𝐥𝐥 𝐰𝐞 𝐠𝐞𝐭 𝐚 𝐜𝐨𝐡𝐚𝐛𝐢𝐭𝐚𝐭𝐢𝐨𝐧 𝐚𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭? This legal document outlines the property’s ownership split and each party’s financial responsibilities. If you later break up, it will help avoid disagreement. Discussing such a possibility may seem like a passion killer, but it can also give you both peace of mind. If family members have stumped up the cash to help with the deposit, they may insist on it.

If you’re a first-time buyer looking for a property, contact us here at Belvoir today on 02380018222.

* Zoopla