Just married? Kids first or house first?

Congrats! You’re married!! Big commitment, now, you’ve had the wedding and for that you’ve spend all or most of your savings.

Next stop: ehhh.. kids or house? (If you’re not married yet; read here why you should consider getting a house first!) You know a house will be giving you repayments that you both will have to work for to comfortably be able to afford them. And you know that having kids will greatly lower your borrowing capacity, especially if mum will stop working, because now dad’s income needs to feed three mouths. God forbid mouth number four comes in the picture.. Making ends meet is then hard enough; thinking of extra payments for a house seems unthinkable even if you could get borrowing from a bank..

So if you want to get into a home of your own; it seems it’ll be best to knuckle down for a little, get a home while your borrowing capacity allows so, find a budget and repayments that you’ll be ok with even when you’d drop to one income and make it work! Because you know that while this house is growing for you in value; this value is yours! One day you’ll be able to use this for the next home or for something the family needs. If you don’t have a home, with every passing year you’ll see property values go up, moving further and further away from you, realising you’ve lost out on another year and paid another year of someone else’s mortgage. Let’s do this!

#timing #finance