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House Buying for the Expecting Couple

Oct 26, 2007
Becoming a parent is one of the most wonderful things in the world. To watch as your bundle of joy wriggles his tiny toes and crinkles his little eyes is sheer bliss. Other more experienced parents and loved ones come up with all kinds of tips that young parents could use. The baby gets heaps of presents even before it is born. Shopping for the baby is a thrilling time as you choose from among hordes of things that the baby would be needing.

However, even as you enjoy the process of becoming parents, there are some serious questions that you must ask. One of the first of these is regarding the size of your house. The first house that you moved into may have been all right for a young couple. But will it be all right for a couple and a child who is growing up? As anyone who has ever thought about expanding their families already knows, one invariably has to move to a bigger house when the children start growing up. Even if you do not make the move before the baby is born, in a few years time, it may become necessary to do so.

But shifting from one house to another tends to be a challenging affair. Moreover, now that you have a family, it would make sense to go in for an ownership house. Yes, many young couples decide to buy their first house when that first baby arrives. At the same time, one need not iterate that this is expensive business. With a baby on the way, it may not seem like the best idea to go in for a house. Yet, you should be aware that expenses will only keep increasing. If you are hoping to shift to a better house some day, you might as well start now.

Once you have made the decision to make that shift, you will have to check out several houses. Ideally, you should be looking for houses that you will be able to afford. This is not to say that you will be paying the entire amount from your savings account. Most of us do not have the savings to purchase a house at any time. The affordability problem is further compounded if you are a young couple. But that should not deter you from deciding to purchase a house. You could always avail of a mortgage plan to help you out.

Every lender offers a number of great mortgage deals. But you will have to sift through them to get the best bargains. Ensure that you consider factors such as the rate of interest and the term of the loan. A fixed, low rate of interest coupled with a period of say twenty years could be a good choice for a young couple. A variable rate of interest might turn out to be a great bargain when the market rates are low. Discounted mortgages are also full and plenty. Look around before you make a choice that would suit you best.
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