The 4 conversations you need to have before buying a home with your partner.

You've decided to buy a home with your partner - congratulations! That's a big flipping deal. 

As you're probably well aware, there's a lot that comes before finding your dream home, putting in an offer and (hopefully) securing it, starting with some serious conversations about making such a huge commitment. 

We spoke to mortgage broker and Head of Lending Operations at Finspo, Daisy Stevens, to hear all about the discussions you need to have with your significant other before purchasing a place. Here's what she told us.

But first, here are four money hacks that don't cut out your daily cup of coffee. Post continues below.

1. Agree on your 'why.'

The first thing Daisy suggests you do before you even think about house hunting (that exciting part come later) is have a conversation with your partner about your 'why.'

"It’s important to be aligned on what the big picture looks like for you and your partner," Daisy told Mamamia. 

"You’re not always going to agree on every little thing, but you will want to be on the same page with the big things."

These are the questions she suggests you ask each other:

• What kind of life do we want to have?
• Do we want to live in this property or buy it as an investment?
• Where do we want to live and for how long?
• What are our goals beyond property?
• What are our non-negotiables in a property?
• What can we comfortably afford and how can we pay for it?
• What happens if we were to ever part ways?

Done that? Onto the next!

2. Check you're on the same page.

"If you’re looking at purchasing a property with a partner, you’re going to be equally liable and responsible for those outcomes," Daisy told us.

"So [it's] vital that you AND your partner’s thoughts/feelings/goals/needs are reflected through those conversations."

Daisy recommends you constantly check in with your partner along the way "to ensure you’re on track to reach your goals."

And if you find what you and your partner want completely different things, remember there's no need to rush it.

"You can move as fast or as slow as you want."

Listen to What The Finance, Mamamia's podcast all about money. In this episode, find out if you're really ready to dive in and buy your first home. Post continues after audio.

3. Agree to share the load.

"This is possibly the largest purchase decision you’ll ever make, so although there’s often a 'finance manager' of the household, it’s important you’re both involved in the home buying process," Daisy said, adding you should aim to agree on this at the start.

"Plan out how you can get through this process as a team. One of the big benefits of buying with a partner is that you can share the load – what can you contribute to the team? What can you divide and conquer? What will you tackle together?"

4. Consult your experts.

Following those conversations, the last step is to discuss whether you want to speak to an expert.

"Having a conversation with a home loan expert early on should give you clarity on what you need to do to reach your goal, and set you on the right path towards this," Daisy said.

If you do, Daisy recommends attending those meetings together.

"Based on my experience with couples, I always recommend that you’re both present for the conversations with your chosen experts - you’ll both contribute and learn different things – which generally improves your outcomes," she said.

Then it's time to assemble your squad - conveyancer, building inspector, buyer’s advocate (if that’s right for you), etc.

"Your experts should make you feel like there are no silly questions and explain things in terms you can understand," she said.

"And always remember, if you don’t feel like you’re getting the clear answers or the respect you deserve, it’s okay to cut ties and find a broker, accountant or financial planner that you feel comfortable with - and importantly, understands you."

Feature image: Canva/Mamamia.