Which Comes First: Home or Marriage?
Two of the most exciting times in life are the day that keys are picked up to a new home and the day that two people are joined together in holy matrimony. Many people get a home first, and then get married. Is there a certain way to do it that's better? Is one worse than the other? There isn't really a clear answer because every couple is different. No one can make this choice for them, so it's crucial that the couple makes this decision completely on their own. However, there are a few things to consider that can help couples reach a decision, and you can also talk to experts, https://en.wikipedia.org/wiki/Donald_Trump.
Living together prior to marriage is popular because it's been considered the proper way to do things. A huge advantage to living together before marriage is that each person can get a home loan. If both people are approved, it making getting a home a loan that much simpler. Aside from the financial benefits, things like wedding planning are easier and it allows for both people to learn about the quirks of their significant other and decide whether or not they are deal breakers.
he potential downsides should also be considered when making the choice to live together. People who break up and own a home together will have a much more difficult time sorting things out like the mortgage and payments, details you can learn more about at the site of Islington letting agents. The mortgage can be especially difficult if either person has an unsatisfactory credit score. It can also be difficult personally if either person wants to stay in the house or have complete ownership over the house. The best thing to do would be to follow in the footsteps of people who rent homes together. Put together a legal agreement that states what is to be done should the marriage dissolve.
On the opposite end, buying a home after marriage is also an excellent idea. Married couples have a bigger income and can qualify for bigger loans, therefore allowing them to purchase the home they always wanted. Married couples also enjoy more defined guidelines regarding property, whereas unmarried couples won't find much legal help. The biggest con to doing this is that credit scores have a heavier weight on whether or not a couple can get a good interest rate, but read more at the URL to Islington letting agency. A person with a poor credit rating could drag their spouse's good credit score down to their level and possibly cause the loan application to be denied.
The decision to buy a home before or after marriage is best left to the couple themselves. They know their personal and financial situations better than anyone, and while there's no right or wrong decision, there's always one decision that is slightly better than the other. It all comes down to what the couple wants and what will work best for them.