We are getting married and both own homes. What should we do with each house?
You do not automatically have to sell both homes. Compare each property's equity, mortgage, rental potential, tax consequences and how much cash you need for the next purchase before deciding what to keep or sell.
Build the decision from the full household picture
Compare the monthly payment, cash needed at closing, savings left afterward, existing debts, current housing costs, and any property either person already owns. Also account for changes that are reasonably expected during the next several years, such as a different commute, children, caregiving, or a need for more space. A lender’s maximum approval is only a borrowing limit; it does not decide what payment will remain comfortable for the household.
Compare buying now with waiting
Buying sooner may lock in a home that fits the next stage, while waiting can preserve flexibility and give the household more time to build savings or understand its long-term needs. Compare the cost of renting with the total cost of owning, including closing costs, maintenance, insurance, taxes, and the possibility of selling sooner than expected.