I’m in love! I’m going to buy a Property with my Partner

First off, congratulations! Being in love is awesome. Second, growing your wealth with 2 people instead of one is just simple math. A lot of things can happen more quickly, so I’m super excited for you!

Now I get paid to lend people money, so I want people to buy property. But I also want them to make decisions that are going to work for them in the long-term.

So, I recommend holding off on pulling the trigger for a year or two. Don’t worry, the property market isn’t going anywhere overnight. Instead, pretend like you already do have a property and start saving bullishly. Once you’ve had time to grow into the marriage and know you’re rock solid, then use your savings to buy together.

I’ve seen hundreds of newlywed couples come into my office, holding hands and super excited about buying their first home together. Only for it to end with both of them contacting me (separately) a year or two later, explaining the marriage broke down and that they’re unsure of how to proceed.

I’m cautious when it comes to property because it’s too expensive to buy and sell regularly. And no one has a crystal ball or knows what the future will bring, but let’s try not to rush into and pay the dumb tax (stamp duty and agency costs) for selling property too early.

At Next, we specialise in talking through all of the options with you and your partner so you can safely grow wealth together.