You've decided to buy a home with your partner - congratulations! That's a big flipping deal.
As you're probably well aware, there's a lot that comes before finding your dream home, putting in an offer and (hopefully) securing it, starting with some serious conversations about making such a huge commitment.
We spoke to mortgage broker and Head of Lending Operations at Finspo, Daisy Stevens, to hear all about the discussions you need to have with your significant other before purchasing a place. Here's what she told us.
But first, here are four money hacks that don't cut out your daily cup of coffee. Post continues below.
1. Agree on your 'why.'
The first thing Daisy suggests you do before you even think about house hunting (that exciting part come later) is have a conversation with your partner about your 'why.'
"It’s important to be aligned on what the big picture looks like for you and your partner," Daisy told Mamamia.
"You’re not always going to agree on every little thing, but you will want to be on the same page with the big things."
These are the questions she suggests you ask each other:
- What kind of life do we want to have?
- Do we want to live in this property or buy it as an investment?
- Where do we want to live and for how long?
- What are our goals beyond property?
- What are our non-negotiables in a property?
- What can we comfortably afford and how can we pay for it?
- What happens if we were to ever part ways?
Done that? Onto the next!
2. Check you're on the same page.
"If you’re looking at purchasing a property with a partner, you’re going to be equally liable and responsible for those outcomes," Daisy told us.
"So [it's] vital that you AND your partner’s thoughts/feelings/goals/needs are reflected through those conversations."
Daisy recommends you constantly check in with your partner along the way "to ensure you’re on track to reach your goals."