Post # 1
Anyone else experience some legit anxiety while searching for a home to buy? We’ve been looking for a few months and I’m ready to throw in the towel and say screw it!! We already have our pre-approval letter from the bank and I thought it’d be smooth sailing after that..hahaha I’m so naive! It doesn’t help that my FI is bound and determined to move, like, this weekend (okay I’m exaggerating but he does want to move ASAP) but it just adds to the pressure of finding something. We have found several we agreed on but in one way or another those deals just weren’t meant to be.
Am I alone in this or have any other bees just wanted to say “the hell with it” and quit looking for a while? I feel like it should be a fun and exciting time being that we got engaged on Christmas and are starting our new life together but it’s been nothing but a hassel. Hmmph.
Post # 3
@RedheadMeggs: House hunting is so stressful! We looked for 2 months and found out perfect place almost immediately. The stress continues until you are in the house with all your stuff, and a key in your hands.
My friend is currently house hunting right now. They started the same time as us (July 2013) and are still searching. It’s very frustrating and I know they are sick of it.
But this isn’t a decision you want to rush. You want to make sure you have exactly the right fit. Keep looking, your house is out there! Good luck!
Post # 4
@RedheadMeggs: My husband and I just bought our first house in September. I hated it. Trust me, you aren’t alone. It’s just one of those things you have to grind it out on.
Post # 5
@RedheadMeggs: Personally, I really loved house searching, but it is overwhelming. Depending on how many homes you look at, it can make it a lot worse. Some people think that seeing as many as possible will help make their decision, but just as many psychology studies have shown…having more choices often makes people less happy, more stressed and indecisive.
Some good advice our realtor gave us was to find a home that had about 80-85% of what you are looking for. Obviously, no home will be 100% perfect, but it is so easy to get caught up on a few features/aspects of a home that may not meet your criteria. By recognizing that a certain home may the right amount of things you want, then you start to realize what things you can live without and still be happy. I am not saying make major compromises, but it’s thinking…do you have to start off with granite countertops? Or can they be installed later? Do you have to have a finished basement at move in? Are you ok with replacing carpet?
After looking at 20+ homes and scrolling through hundreds online, we decided to look at new builds. We found that for around the same amount, we could buy a home that was over 85% of what we were looking for. Our home should be done this summer and we are really excited to move in.
Post # 6
@RedheadMeggs: House hunting is stressful, but that’s the easy part, lol. Just wait until the loan process starts, it sucks beyond belief these days. Even for us it was so freakin’ stressful and we’ve bought and sold several houses in the past. We’ve never experienced anything as difficult as what we just went through. The lending industry is incredibly mismanaged these days, the departments don’t communicate with each other and stiffer federal regulations have made things so much stricter. Everyone is assumed to be a criminal, I guess.
My husband and I have a high joint income, a low debt-to-income ratio, both have very well established long term careers with excellent employers, and we both have very high credit scores. So, we felt that since we’re the perfect candidates for purchasing a new home the process would be smooth. Were we wrong! We decided to go the custom built route, too, which made everything even more stressful.
God bless you if you’re getting ready to go through this, lol. I hope all goes well and easy for you. Avoid Wells Fargo for financing like the plague if at all possible. 🙂 The only good thing was we got a great interest rate after all was said and done. The rates are starting to creep back up now so we’re glad that part is behind us.
Post # 7
We’re in a slightly different situation but kind of similarity frustrating.
We moved into FI parents basement 15 months ago with the intention of buying it in 2-3 years. When we discussed it in November (1 year mark) they spoke as if it was a 3-5 (most likely 5) year plan starting from that point. I do not want to finally be moving out of this damn basement when I’m practically 30!
So shortly after, FI grandpa died and grandma decided to sell. We went and talked to her and she agreed and said July.
Now it is August, maybe September?
Next thing I know it will be next September!
Ack 400 square feet is killing me!!
Post # 8
Yup! We looked with concerted effort for a year with pre-approval. There was nothing we wanted to pursue. So demoralising. We’ve half-heartedly looked at ads from property website emails for the past two years, but still nothing to excite us (for the record, we’ve zero expectations of finding a perfect home, just a decent neighbourhood and in decent shape).
Unfortunately, while our savings have grown a lot in the last three years… the market picked back up again. With a vengeance. We’re now priced out again, after the post-2008 ‘correction’. We don’t regret not biting. What’s the point if it’s not something you’re in love with? For now, we love our apartment and are taking the approach that we’re not bending over backwards to force it to happen. Life’s really good right now, renters or not.
Post # 9
@bmo88: Some good advice our realtor gave us was to find a home that had about 80-85% of what you are looking for. Obviously, no home will be 100% perfect, but it is so easy to get caught up on a few features/aspects of a home that may not meet your criteria. By recognizing that a certain home may the right amount of things you want, then you start to realize what things you can live without and still be happy.
+1000. This made our search much easier.
Post # 10
I actually loved it! We saw roughly 80 houses! I’ll admit I was getting frustrated cuz I never thought I’d find exactly what I wanted. And you don’t. You always sacrifice somewhere.
If you can take a few months off, go for it. I couldn’t. I hated apartment living and we had already extended the lease two months.
Post # 11
We’ve been looking since November. We put a half hearted bid on a place a month and a half ago that was rejected and we were fine with that. Found the perfect place this last Friday and were outbid by $20K. I feel so deflated about the process right now. Everything in our price range right now is not what we are looking for (neighborhood/type of house). I feel like we’ve been out priced and I refuse to move to the suburbs.
Post # 12
@RedheadMeggs: I hated it too…the inventory just was not there in the price range we were looking. And our price range wasn’t on the low end for the area…there is just not a whole lot of inventory right now. The suburb we are looking in is super popular for young families and there has been a huge influx of people and no one selling! We actually just a few weeks ago decided to build and are now under contract. Breaking ground in February 🙂 Do not know about your area but in ours, building was very reasonable and definitely in our budget…something maybe to look in to?
Post # 13
I went out, looked at 4 houses, decided on one and was settled, closed and moved into it in 30 days exactly. The house shopping was fun. The loan process SUCKED and the move itself wasn’t all that fun but the house shopping was FANTASTIC!
Post # 14
I think this post is exactly why SO and I are holding off on buying a home! I am actually in the process of becoming a real estate agent, and my parents and I are planning on sort of going into business together on that front to buy and flip or do rentals. I LOVE the whole process, but doing it for your own personal home and with someone that you love can be very difficult. If we are looking into a rental or flip house it doesn’t necessarily have to be to the standard that you would want to live in yourself, or to be decorated to your tastes. It was hard enough for my SO and I to agree on an apartment (we looked at like 20), so I can’t imagine doing it for something that we would own for at least 5 years, but probably way more!
Post # 15
We’ve been looking since October and the market in our area just sucks. We aren’t crazy picky but we don’t want to spend $250K on a tiny house. Unfortunately in the very limited cities we’re looking at, that’s what’s available in our price range…which isn’t low. So we’ve decided to chill on the houses for a bit…and we bought me a new 2014 4Runner for my birthday haha.
Post # 16
We are the opposite, we started looking before our preapproval now we found something we both are interested in and applied for our pre approval last night.
@RedheadMeggs: Where are you looking in Florida?? you should check out new builds they are gorgeous and a lot more affordable than you’d think plus you’ll get everything you could possibly want!