Let the House Hunting Commence: Tips for Starting Your Search
Your eyes aren’t deceiving you — Justin and I have really started house hunting! As you may have seen me mention in last week’s life update post, my husband and I have begun the process of finding our first home. After thinking we were nowhere financially ready for this for the past year and having everyone we know asking us when we were going to start looking, I decided to finally sit down and actually look at the numbers. And let me tell you, I was so surprised to see this was not only a viable option for us, but the best option. Keep reading for more on this topic, tips for starting your home search + what this series is going to include!
To preface this, my dad is a realtor/broker and agency owner, so I grew up integrated in the industry. But with that being said, there’s still so much I don’t know and I feel like I should know way more than I do considering my history — so if you’re feeling like this is all over your head, you’re not alone! If you’re feeling lost and overwhelmed by this whole process, I promise it’s not just you! It’s intimidating to make such a big purchase and commitment, and if you’re a first time home buyer, there’s likely so many terms and processes that are completely unfamiliar to you, with myself included.
I want you all to be aware that I’m not an expert in this — I’m just sharing my experience and what I’m learning as I go. So if you’re looking for content from someone who has already successfully bought a house and can give you advice in hindsight, that’s not me yet. Now that all of that has been cleared up, let’s jump into the most common questions most have when starting this process.
How do you know when you’re ready to buy a house?
This is the golden question that I assumed the answer to would just fall into my lap one day without actually doing any research or looking into it whatsoever… wrong. You need to run the numbers. I suggest looking into your savings and comparing monthly mortgage payments to the rent you pay now for your current place. If you can afford monthly payments for a house you feel is a good fit for you and you have a decent amount of savings to put in on a down payment to get yourself going, it may be time to start looking.
How early should I start looking?
ASAP! I’ve quickly learned that houses go in what feels like seconds these days (however all communities vary), so start looking even earlier than you think you should be (within reason, of course). I suggest looking as early as six months before your lease is up if you’re really serious about buying, and be aware that the length of the process is truly unknown and happens differently for everyone. Houses can come and go within days around here, so I’d rather be early than too late! We’re unfortunately starting this process later than I wish we would have.
Where should I look?
I suggest browsing through online listings — I recommend realtor.com and Zillow. Filter your search by selecting your location, desired price range, bedroom number, bathroom number and more. This will help you only focus on results that are realistic for you so you don’t get caught up in things you can’t afford. I must admit though I think it’s so fun to look at the crazy expensive homes, but avoid doing so if you think it could be negative for you. I also suggest looking at houses you’re interested in on Google Maps if you haven’t seen them in person so you can get a feel for the neighborhood. Do keep in mind though that Google Maps may not be updated to date, so things can be different.
What can I afford?
That’s another key question because there’s nothing glamorous about buying a house you can’t afford. Of course you’ll need to begin by looking over your own finances, savings and income — and being in contact with a realtor will really help you out during this process. I then suggest applying for a mortgage pre-approval at a bank to get a better idea of what you can afford, which will help you when putting in offers moving forward. Another really helpful tip is that most real estate websites have a calculator that allows you to enter your expected down payment amount (it can be a general guess because this while depend on the loan you qualify for) and generates an average of what your mortgage payment may be per month. This is a really quick way to get a general idea of what your budget may be! Don’t forget to keep electric, sewage, water and trash payments (as well as any closing costs) in mind since you’ll be paying that along with your mortgage each month. Most importantly, be realistic. Just because you’ve been given the option to take on a large loan, doesn’t mean you should.
How can I pinpoint what I want?
Pinterest is a huge help (make a board and get to it — you can check out mine here), and talking with your spouse (if you’re moving with someone) about what you’re both looking for helps bring everything to the surface. Consider:
- Location and neighborhood
- Your commute
- School district
- House size
- Lot size
- Number of bedrooms and bathrooms
- Floor plan
- Garage space
- Overall design
- Appliances
- New features and updates
I know it’s a lot, but it’s all important! I then suggest making a list of what qualities are requirements for you, which things you’d prefer to have but aren’t 100% necessary, and what things are complete deal-breakers. You can then use this list to evaluate listings you visit to determine where they rank for you.
Psssst: For future reference, you’ll find this series under the “Interiors” category on my blog located under the lifestyle menu at the top of my website. This tab will include the entire house hunting process along with tips, as well as home decor DIYs + more!
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I hope you all enjoy this learning experience with me and I’d love any tips you have! It would be great for the comment section to serve as a forum, so feel free to share your thoughts, questions and advice. I’ll be sharing more on my Instagram Story and probably my YouTube channel too throughout this process, and I can’t wait to take you all along for the ride! Thanks so much for reading & check back for a new post on Friday!
