Married and now... Want to buy a house? What do you need to know for this next step together

From marital property regime to housing credit, everything you need to know before buying a house with your spouse.

After the "yes," it is common for the next big decision to come: Buying a house. Marriage marks the beginning of a new phase - and for many couples, this new chapter includes buying a house together. But where to start? What changes legally and financially when you get married? And how to ensure that this decision is made safely and with proper planning?

Marital status and property regime: What influences?  

When you get married, a legal framework is established for the acquired assets. The chosen property regime - community of acquired assets, separation of assets, or general community - determines whether the house will be owned by both or only one of the couple members.

• Community of acquired property (the most common): Everything bought after the marriage, including the house, belongs to both.

• Separation of property: Each spouse maintains their individual assets, even if acquired after marriage.

• General communion: Everything (before and after marriage) is common to the couple.

This regime influences property ownership, credit responsibility, and even the future sale of the property.

How does home credit work for couples?

When applying for a home loan as a couple, the incomes of both are considered, which usually allows for access to higher financing and better conditions - especially if both have stable incomes.

Advantages:

• Higher debt capacity.

• Possibility of achieving a lower spread.

• Shared responsibility in paying installments.  

Note: If one of the members of the couple has debts or credit problems, this may impact the approval of joint credit.

What documents will they need?

• ID card for both citizens.

• Income statement (IRS).

• Recent payslips.

• Credit responsibilities map (from the Bank of Portugal).  

• Proof of address and IBAN.

Joint accounts and budget management.

With the purchase of a house, it is essential to define how expenses will be managed. Couples often opt for joint accounts to facilitate the payment of housing loans, fixed expenses, and other common charges.

Useful tip: Create a joint budget with all monthly expenses (instalments, insurance, condominium fees, water, electricity, etc.) and set savings goals.  

Support and incentives: Who can benefit from them?  

According to age (in this case, up to 35 years old) and income, they can access:

• 100% financed credit for young people;

• Exemption from IMT and Stamp Duty for young people.

Getting married and buying a house can be a dream come true for two people. With financial planning, organization, and the right advice, this step becomes simpler, safer, and more rewarding.  

Read more: Couple life insurance: How does it work and is it worth it?

If you are ready to find your space for two, start by evaluating your budget and seeking specialized support.  

Consulting with a credit intermediary is an excellent way to understand what solutions are available to you - at no cost, and with access to various proposals from different banks. For this purpose, you can rely on the Poupança no Minuto which handles everything for you at no cost! Simulate your financing here and start today.