Buying a Home Before or After Baby? A Complete Guide

Having a baby is as important as buying your own nest. Which is before and which after is not as simple as it appears because if your biological clock is ticking then you cannot wait and at the same time property prices just don’t seem to come down. What should you do? Read on for more clarity on the topic.

Find answers to the following questions and you will see light at the end of the tunnel.

  1. How is your future at job front: If in the next 12 months you see yourself getting a raise and an increment probably it is better to buy a house because it will bring in much financial stability and will look good on your credit report. Buying a house does not mean wiping out all your savings; you must have enough savings to cover six months of living expenses.
  2. Relationship with spouse: Buying a house may be better in the initial stages of your relationship when both of you can work and pay off the EMI. When a baby comes along the take-home income will become less and the strain of taking care of a baby will show on the relationship if it is not strong.
  3. Are you ready for the expenses: Having children is an expensive affair and the expenses never end. Therefore, it is better to buy a house and have some semblance of security before all your paychecks go into childcare and related expenses.
  4. Do you have the deposit: The biggest challenge first time home buyers have is the deposit; accumulating a large deposit is not easy and that is why couples work hard to save and buy their first house. When they world so hard they won’t be able to give the kids the quality time they need and that is why it is better to buy the house and then go for the baby.

Ultimately, the choice between the two is at what is your financial status and your physical health. To find out more about this topic go to luxtime.