Tips for Affording Your First Home in Southern Coastal Georgia

Weddings and homeownership are two significant milestones for many couples. However, affording both can take years of careful planning and saving. National trends show that many couples wait nearly a decade after marriage to buy their first home. But with smart financial strategies, you can shorten that timeframe and achieve your homeownership dreams sooner.

If you're recently engaged or planning a wedding, consider these tips to help make homeownership a reality with your significant other in Southern Coastal Georgia.

Ask for Donations to a House Fund Instead of Traditional Gifts

Rather than registering for household items, consider setting up a cash fund for your future home. Many wedding platforms, such as The Knot and Zola, allow guests to contribute to a home fund. This approach helps newlyweds allocate money toward a down payment instead of accumulating unnecessary household items.

Avoid Financing Your Wedding with Credit Cards or Loans

Using loans or credit cards to finance your wedding can increase your debt-to-income (DTI) ratio, which affects your ability to secure a mortgage. Lenders typically prefer a DTI of 36% or lower, so keeping wedding costs within a manageable budget will help maintain your financial health and improve your chances of mortgage approval.

Explore First-Time Home Buyer Programs in Georgia

Southern Coastal Georgia offers various first-time homebuyer programs to assist with down payments and closing costs. The Georgia Dream Homeownership Program provides affordable financing options for eligible buyers, including down payment assistance.

Additionally, USDA loans are available for homes in many rural and suburban areas of Coastal Georgia, allowing qualified buyers to purchase a home with 0% down. FHA loans are also an excellent option for those with lower credit scores, requiring as little as 3.5% down.

conventional loans for first-time buyers start at just 3% down

Don’t Wait to Save a 20% Down Payment

While a 20% down payment was once the standard advice, many loan programs allow for much lower down payments. In Georgia, conventional loans for first-time buyers start at just 3% down. For example, with the median home price in Glynn County hovering around $350,000, a 3% down payment would be $10,500—an amount that can be saved in just a few years with strategic budgeting.

Take Advantage of Tax Savings

Speaking with a tax professional before your wedding can help identify potential deductions. Donating items from your wedding—such as flowers or a dress—may provide tax write-offs, allowing you to put those savings toward your home purchase.

Additionally, there may be tax benefits to purchasing a home before marriage. In some cases, single buyers may have an advantage when itemizing deductions, which could result in a higher tax return to fund your future home.

Why Buy in Southern Coastal Georgia?

Southern Coastal Georgia is an excellent place for first-time homebuyers. With beautiful beaches, a mild climate, and a strong sense of community, cities like Brunswick, St. Simons Island, and Kingsland offer a range of affordable housing options. The cost of living is lower compared to larger metro areas, making it easier for couples to invest in a home while still enjoying a high quality of life.

By strategically managing wedding expenses and taking advantage of homebuyer assistance programs, you can achieve your dream of homeownership sooner. If you're ready to start your journey to buying a home in Coastal Georgia, our team at Coastal Roots Realty is here to help!

For more information, visit www.floridarealtors.org.