Just Married And Buy A House?

Chris asks if he and his fiancée should invest in a new house after the wedding. Dave advises waiting at least a year after they get married to buy something even if they have the money beforehand.

QUESTION: Chris asks via email if he and his fiancée should invest in a new house after the wedding if they have a 20% down payment saved. Dave advises waiting at least a year after they get married to buy something even if they have the money beforehand.

ANSWER: I recommend for couples under 30 that are getting married—and sometimes couples over 30—to wait a year. Rent for a year, pile up cash, and really get to know each other. It takes about a year to know how close to your mother-in-law to buy. Translation: You need to get to know each other before you buy something as permanent and hard to resell as a house.