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We've been looking for 7 months. About a month ago we put in our first offer, but the bank accepted a higher offer. I'm insanely jealous you found a house so quickly.
Since you have not been looking for long, my advice is to take a while to think about it with your husband and think about what you like and whether this is really the right house--are there little things that kind of bother you (there should be some, but what are your deal breakers). Is there enough space for the family you may want to have some day (like do you want 2 kids in the next 10 years, but this house only has two bedrooms?).
In my experience, looking online doesn't really help you start thinking about what's important. There's something totally different about walking through the space, thinking about the layout and really being IN a house that you can't get online.
Good luck!
We looked at a total of thirteen houses and it came down to a decision between two. We inquired on the price of both and one wasn't willing to move even though it needed a new roof, etc. We decided the other one was for us and the decision probably took about a week for us to be completely sure, and we're glad we made that choice! We've been living here over two years now and I love home ownership sooo much.
We signed a sales contract 3 weeks from the first time we went out looking--- so pretty darn fast for us! I think there are several factors at play though..... mostly 1) If you know exactly what you're looking for and 2) if your price range is reasonable to get what you want.
We had a list of everything we wanted:
A specific suburb
3+ bed
2+ bath
newer (less than 10 years)
yard that is fenced or able to be fenced and not too big
awesome open kitchen
walk in closets
vaulted ceilings
lots of natural light
"man cave" area
so... we were pretty specific :) Luckily I had done enough research to know that what we were looking for was possible within our price range and we just told realtors we weren't willing to settle. It was a fast and furious 3 weeks and we looked at about 9 places in person (and tons more online) and when we found the one that had everything we were looking for it was 20k less than our limit and brand spankin new with a 12 mo home warranty. We jumped on it!
I think that if its REALLY right for you-- do it. But make sure that you aren't just excited about picturing yourself in a home :)
It took us less than a month to find our house but we checked out a lot during that time!
I think it's totally fine to fall for a house that quickly but my recommendation would be to think of every single negative that you can (it will probably take some effort but I promise they are there.) If the positives still outweigh them, go for it and congratulations! :-)
It is not to soon to put in an offer as long as you are sure that it has what you want! We took a few months because there wasn't as much on the market back in 2007.
We just went under contract yesterday on a house. We looked for two months but it took us that long to find this house that we both loved. We saw many houses that we kinda liked or that I liked but he didn't or vice versa. If you found one you both totally fell in love with, I don't see any reason not to move forward.
We put an offer on our house three weeks into our search. The house that we bought was actually the second house we walked through although it was not love at first sight for me.
Long story short, the house smelled like smoke, was larger than what I thought we needed and the price was out of our price range. Three weeks later two other houses got snatched up as we were trying to put offers down on them. We needed to jump on another house fast, so we put an offer down on our home. Luckily we outbid a competing offer and got the home for a price we could afford. If you are curious, I fretted that we would have the whole house fumigated because of the cigarette smoke, but the sellers clarified that it was just their adult son who was living there that smoked sometimes in the house eventhough he was not supposed to. So that turned out to be non-issue.
This has gotten long winded, but what I am trying to say is that if this home is really what you want, go for it. A house you see may be gone the next day, you never know in real estate! If you find something you love there is no point considering endless other options. Good luck!
I had off for spring break this past week (yeah being a teacher!). So I went out and saw about 17 houses in 2 days. I picked 4 for my FI to see with me the next night and we had our parents come check out the one we liked the very next day. We put in an offer, they countered and we accepted. Now we are hoping to hear if it was ratified tomorrow!
We walked in and we knew that it was the one we wanted. Room to grow and it had most of the things we were looking for. We put in an offer so quickly because something with the FHA loans rate went up by a quarter or half % this weekend plus it was a gorgeous weekend here and we didn't want anyone to walk through and out in an offer.
As long as you decide what you really need, would like to have, can live with, and don't want it makes it a lot easier to go through the houses. I would make sure that I saw what was available, but if the price is right and you really like it then I say go for it!
I bought my place 5 years ago when the market was still pretty booming. Options in my price range were slim pickings around here. When I walked into this house I just knew it was the one - it was soooo much better than anything else I had looked at. I called my mom (hubby wasn't in the picture then) and described it to her and was like THIS IS IT.
The house went on the market Thurs. I looked at it Friday. Put an offer on it Friday night (as did someone else). Saturday morning the selling couple picked my offer!! It's a very exciting process!
Random - We had a yardsale once and one of the ladies that stopped by said 'I put an offer on this house' - Guess she was the one I beat out because the previous owners are the ones who built it. I have other friends in town that found out I bought this house and said "We love that house - please tell us first if you ever decide to move". The previous owner taught piano here for many years so MANY folks in town (small town!) have spent time here. Good to know it should be easy to sell IF we ever decide to do that :)
We looked at over 100 houses online, and found "the one" the first day we met with our realtor. We looked at 5 houses that day and this was the 4th one we saw that. We walked in and we both just knew. It had everything on our list plus more.
We also felt weird about finding the dream house on our first time out, so we decided to sleep on it for a few days before we made an offer, plus we had our parents come check it out the next day.
I feel totally comfortable with out purchase. Its our dream house (well, for our first house atleast!) and we are SOO soo happy. Now we just have to wait to close on it!
Good luck!
We were like you. We looked online, we drove around. We knew what exactly we wanted. We thought we found one online and then it was under contract apparently. Well, when we went to look officially the first time, it was back on and we knew it was the one! We put in an offer the next day :-) We're supposed to close today.
In this market, many times those "dream" ones go really fast. And sometimes, as fast as you act it's too late! It's so up in the air these days that if your ready, and you KNOW... go for it! On the other hand, if it doesn't work out after you try, don't dispair. Everyone I know is so much happier in their home that have been through that. they all said "we were sure, but we are so much happier we got this one!"
Best of luck!
we bought a condo in chicago about 4 months ago. the one we ended up buying was actually the first one we saw, but we kept looking for another 2 months after that just to make sure we weren't being too "spur of the moment." thankfully it was still available and now it's ours! i think if you find something you like, you should put an offer in right away. it would be horrible for you to lose it to someone else! good luck!
we started our hunt, just about a year ago! april 2009... we looked almost every weekend through the end of july 2009... and we found our house on the last day of showings (we were ready to give up!)...
we closed a month later... and moved in first week of sept 2009
We were really lucky and found it on the first try. We couldn't believe it, so we kept on looking for another day or so, but came back to the one we immediately loved.
I voted for 3+ months...we started casually looking at stuff online in early 2009. We decided to really start looking at the end of April 09 and got a broker. Between May and mid-June 09 we looked at probably 30 properties in total. We made a prior offer that did not work out in May 09. When we found "the one" we knew after spending about 3 minutes inside of it. We closed about 6 wks later.
It took us a LONG time, but we were looking for a diamond in the rough. We knew the area we wanted to be in, and had a max budget.. it took a LOT of looking, we lost a couple houses because we didn't put in an offer fast enough.. but we bought a great one! It's a perfect starter house!
We looked at a few houses in May of last year but didn't find anything. I had all these crazy limitations - 6 block radius of our current rental house, at least 100 years old, wood floors, garage, yard, and a price range. About 6 houses fit the bill and we looked at all of them. We loved one, but it was too expensive.
The seller emailed me in August to say they were having a price drop. I figured it would be a couple thousand, but it was TWENTY thousand! We put in an offer that day, and moved in exactly one month later.
So finding the house took a little bit, but once we found it, we closed and moved in immediately.
If you find a house you love, I say put in an offer on it... if its what you want & it meets all your requirements (sounds like it does that). If the one you saw you loved, than I say go for it & its not silly at all!
I'd been looking at houses for approx 2 months & when I saw the house that I'm getting soon, I put in an offer within 2 hours of seeing it. Good luck!
It took us almost 3 years, but at least half was not serious looking, just seeing what our options were. We saw the house we are in the process of getting on a Sunday and put in a bid that Tuesday and it was accepted on Thursday. If you love it and its exactly what you want, don't wait!!
We started casually looking online autumn of 2008. I saved and categorized all the homes I liked and got familiar with the area before I arrived that upcoming spring. We started going to Open Houses summer of 2009, but back then we wanted something completely different. Actually, we changed our "ideals" 3 times before finding our current house. At first we really wanted to live in the countryside, be surrounded by nature and have a ton of land. Then after driving through a few gravel and dirt roads, we realized we weren't hardcore farmers afterall. We needed to live somewhere with at least a grocery store close-by.
That's around the time we were seriously considering in buying a townhouse since we would save on rent and at the same time have a place of our own. We planned to upgrade into a detached home later, but given the dynamics of the Swedish real estate market, we realized it was a much better idea to just wait until we found our forever home.
Then came our house. We 1st saw it on Valentine's Day/Lunar New Year. It was a house we weren't really planning on looking at and when we did see it, it took awhile before we fell in love with it. It was the very first detached house we saw that was in a small town (not in the boonies like all the rest). It had almost everything we've ever wanted, just not the exact way we want them. The biggest downside was it has a small kitchen! Something I thought was a deal breaker ...but it turned out the attached bathroom trumped the kitchen size! It's very, very rare to see an attached bath in our area and the way our kitchen is layed out, it looks like it could be easily expanded.
So in a way, we had a little of both - we've been looking for awhile, yet we bought the first detached house that we saw (in an actual town, not the boonies). I absolutely love the area, and everytime we visit, I love it even more (we don't move in until June 15th).
My advice: if you love it, and know exactly what you want, there's no need to look further. Consider yourself lucky in finding a home right away! Remember that a little paint, gradening, and some renovation can truly transform a place, but it sounds like you already love it and that's a really, really good sign.
UPDATE!!!
Thank you all SO much for your input! This has been a crazy two weeks, let me tell you. We've gone out looking in person almost every other day!
We ended up passing on the home I wrote this post about. After we slept on it, we went and drove around the neighborhood because we weren't very familiar with the area. Turns our we really didn't like the neighborhood at all, and even though we absolutely LOVED the house, we just didn't want to live in that area.
Since then we've found another house that I totally fell in love with (in a great area!), but that DH wasn't as crazy about. We talked about putting an offer in on it, but hubby kept going back and forth, so I told him we should keep looking until we find one we both totally love.
We're looking at one tonight that we both love on-line, but it's $25,000 out of our price range... which brings me to my next question. Is it acceptable to offer something that far under asking price? From all the research we've done, the house is over-priced for the area it's in, but I'm not sure how to know how low to offer. Any thoughts?
When we first moved to our new town in 2008 we were overwhelmed by how SH***Y the market was here; either you had to be a millionaire to afford the gorgeous lakefront prperties, or willing to settle for a tumbled down shack. Seriously.
So, we decided to rent and wait to see if anything in our price range (and in better condition) would turn up. Two streets down from our apartment was a very cute, mid-sized home for sale that caught our eye, but before we could make an appointment with a realator it went off the market.
Fast forward to a year later and the house was back on the market. I was OOT so my FI booked a viewing. I still remember picking up the phone to hear him say 'You really need to come home and see this place, you won't believe it.'
We put in an offer in less than 2 weeks, and the closing was signed within a month. Normally we wouldn't have been so quick to jump on a house, but like I said, Real Estate here is atrocious (seriously, 50% of the houses here should be condemned). For $70,000 we could have bought a house that needed to be torn down and rebuilt, but we got lucky, and actually found a nice place, with a big yard and lots of potential.
It really depends on how volatile your local market is, as well as how 'large' the local market is.
The list price for our house was $68,900, the paperwork our realator provided stated it was last purchased for $66,500 (it was a repo) so we offered something ludicrously low, just to see what the bank would offer (first bid was like $55k, based on the base property value of 56K). The bank gave us a counter-bid, and we went from there. Depending on whether it is a private sale &etc. will determine what the list price is & the interpreted value (what the owner thinks it is worth).
Yes you CAN offer way less than the list price, either the seller will refuse your offer flat out, or they will present you with a counter bid. Be careful though, if someone is willing to offer more money the seller will obviously prefer that. Another thing to consider is that perhaps the seller listed the property really high in the hopes of being offered something 'low' that is actually closer to their desired selling price, rather than listing it at value and being underbid and ending up selling for less than they would like.
GOOD LUCK! :)
2 years!!! ahhhh! But we love our home and are very happy.
We had seen other houses (drive-bys) but the house we bought was the only one we saw inside. We knew we had to have it! We loved it and it was such an amazing deal, so we went to the realtors that night and put an offer in and it was accepted the next day! We are so happy too! :)
You could always offer $25,000 less than the asking price. They might be firm on their price even if it is overpriced. Some people just don't understand that their home is worth less now.
I agree with missmouse29, you have to look into your local market to see if bidding that low is realistic. In my case, it was, but it wasn't us that started the bidding. Another couple made the first bid $31,000 less than their asking price! Like the house you're interested in, ours was slightly overpriced. Either that or it was just way to cold for people to be bothered with looking at homes (it was a freakish winter with record breaking snowfall).
We started off by raising their offer by $7000, which was still way low, but since no one else was bidding, we had an advanatge and were able to negotiate with the sellers. In the end we got a $14,000 discount and we're totally happy with that.
I think you made a good decision to pass up the other house. Location is very important, and it's thanks to the Bees that really convinced me about that. Keep in mind that when you make an offer, be prepared to negotiate. For instance, we purposely spaced our offers to anticipate their counter-offers - so in the end, we would lead them to the price we wanted.
So basically, we wanted it for about $14k discount, but instead of saying that outright, we set a much lower offer, $25k, then $17.5k, then $15.5k. In the end, they were the ones that cut to the chase and flatly offered a $14k discount - although in our minds, we were leading them to another round. We wanted to play hardball and make it seem like they were squeezing money out of us, although we were really prepared to pay more for the house if we had competition.
Try to find out their reason for selling the house, it can really help you if it comes down to negotiations. Good luck! Keep us updated.
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Hi Ladies! As some of you know, DH and I went house hunting today with our realtor (thanks for all the awesome advice! It really came in handy!) and it was a great experience. This is the first time we've been out with our realtor, but we've gone out on our own twice before today, and we've done a ton of looking on-line.
Anyway, today we found a house that we absolutely LOVE. It was leaps and bounds ahead of the other homes we've seen, and we just fell in love when we saw it. We feel kind of silly, though, wanting to put an offer in on the first day with our realtor! Is it too soon?
So... how long did it take you to find a house you love and put an offer in?