• Post last modified:October 5, 2020
  • Post category:Insurance

One of the differences between being single and being married is the combined financesthat you will now share with your spouse. Once you’ve established some solid financial stability with your love done, the next question remains as to whether you should purchase your firsthome and CT insurance for it.

Here’s what newly couple s should do when trying to purchase their first home.  It’s a huge commitment, and it takes quite a bit of financial sacrifice for both of you. Here’s some tips for you both:

Make sure your finances are in check

Eliminate as many financial commitments possible before even looking at homes.  Pay off wedding or honeymoon bills, car loans, and even large amounts of student loans.  Most experts suggest as that you and your spouse’s total monthly debt shouldn’t be more than 35% of your gross income.

You don’t need that big TV, at least not yet.

If you’re looking to purchase a home, it’s not a very goodidea to purchase a new LED, car, or furniture set.  This newly acquired debt won’t look good to lenders.

When in doubt, save you money.

Establish a solid emergency fund of at least three month’s worth of expenses.  It’s also verysmart to save big time for a large down payment, which will end up costing you less for your monthly payments.

So remember these tips the next time you and your loved oneare in search for a new place to call home.  Also, stop down to Paradiso Insurance for CT Insurance needs you have!