(Closed) When to start looking for a home?

posted 5 years ago in Home
Post # 3
Member
2282 posts
Buzzing bee
  • Wedding: June 2012

When you’ve got your down payment. 

It can take a while, so be prepared. You don’t want to wait too long to start looking and then be stuck with nowhere to live. 

If you do find something before your lease is us and you’re not ready to move in, try to negotiate a delayed closing. Or, what my parents did once, where you go ahead and close and then the sellers rent from you while they continue to live in it while you wait for your lease to be up.

Talk to a real estate agent – he/she will be able to advise you.

Post # 5
Member
10508 posts
Sugar Beekeeper
  • Wedding: January 2011

It never hurts to start the discussion about your needs, wants and nice to haves in a house, looking helps this process I think.  It’s also a good idea to get an idea of the market and what neighbourhoods you’re interested in.

This is all coming from someone who has been ‘browsing’ for a while, as I won’t be really looking until the fall.

I don’t really have a timeline for when it makes sense to start looking for the house you actually want to buy.  It would depend on the area though.

Post # 6
Member
2106 posts
Buzzing bee
  • Wedding: September 2012

It took us 9 months to find our home.

We put offers on 6-8 places (I don’t even remember).  Start looking now.  Get preapproved, look out there to see what you can afford with that amount.  Sure, the houses you look at most likely won’t still be on the market when you are ready to buy (our house we bought was on the market 1 day when we booked a trip to see it, we went under contract when it was on the market 11 days), but you need to know what neighborhoods you’d want, which you hate, and how much house you want/need/can afford. 

At the least, look at online listings now.

Post # 7
Hostess
18623 posts
Honey Beekeeper
  • Wedding: June 2009

You might want to start looking now as long as you can afford to be paying two payments at once for a little while.  There isn’t always as much out there as they say there is on the media so it might take you a while to get the house you want.

Post # 8
Member
4047 posts
Honey bee
  • Wedding: November 1999

I don’t think it is too early. If you start now you might find a house in -August or September, with all the paperwork and mortgage stuff you might go to November before its yours. I would actually recommend overlapping by a month or so, you can move some stuff into the house, clean it, and then move in the rest with alot less pressure (especially since December = Holidays)

Post # 9
Member
791 posts
Busy bee
  • Wedding: July 2012

I own a real estate business so here’s some advice. It’s great that you have your down payment! Next, if you haven’t already, go talk to a lender to find out how much home you can comfortably afford. If you know your credit scores, don’t let them pull another credit report yet. Banks, mortgage companies and credit unions are where you start.

 Once you know how much house you can afford, start looking at neighborhoods  in that price range. Drive around on weekends, see who lives there, if it meets your commuting requirements, etc. When you’ve narrowed down a couple of areas that appeal, look on Realtor.com or any of the other sites that show available houses. This will give you a ballpark idea of what is available and avergae time homes are on the market. Don’t start seriously looking too early or you will be frustrated!

When you are about 2-3 months away from the end of your lease, find a Realtor to start showing you houses. Don’t fall in love with anything right away- there is always another house! However, if you find something very special and want to make an offer you will be in a reasonable amount of time to purchase and end your lease. From contract to closing usually takes 4-6 weeks. Good luck and feel free to pm me with any questions.

Post # 10
Member
7656 posts
Bumble Beekeeper
  • Wedding: July 2012

Get the down payments together and visit the bank to see what you can afford. Then start getting serious. This is home DH and I are going to proceed in the next few months.

Post # 11
Member
7318 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

You have your dp, which is great. Do you have your closing costs, 6 month emergency fund, and new home randomness fund too? If so, go get pre-approved by the 2-3 lenders that you’d prefer to work with, get an agent, and start shopping. We were looking for our forever home, and it took us 18 months. We had 3 failed contracts before finally closing. Real estate is tough.

Post # 12
Member
12 posts
Newbee
  • Wedding: December 2012

To find a suitable house in your rental contract prior to the date is just fine.

Post # 13
Member
35 posts
Newbee
  • Wedding: June 2011

I would suggest to look now. If you guys are planning to buy a house it will take a while or months to process.

When my husband and I were looking for a home it took us about 3-6months to decide and to find the right house for us. Once you find the one or the house that you really want then you need to make an offer which can take a while. The seller has to approve it or you might have to compete with other prospect buyers. So you either have to bid higher or do counter-offer and negotiate with the asking price. Then after that you have to do inspection.

It took us 2 months for everything to process before we do the closing contract and to finally move in. It’s a lot of paper works, contracts, negotations and dealing with loan and agents. 

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