When
To Start Looking At Real Estate Listings
Before
you begin searching for your dream home, take a good look
at your current situation. Is your lease going to expire
soon? Will you be starting a new job? Moving out of town?
Depending on these and other factors, you may or may not
want to dive into a real estate listing search.
The last thing you want to do is make a rushed decision.
If you wait too long to begin your home search, you may
not have enough time to find a home that suits your needs
and your budget. If you start your search too early, you
might end up finding a home you love but aren't ready to
move into.
So how do you know when to begin looking at real estate
listings?
Here's a good rule of thumb: Allow yourself 30-60 days
to search, and plan on 45-60 days from offer to closing.
Be aware that buying a house is not a quick and easy process.
Being a smart home shopper means taking your time, not getting
overwhelmed and not buying on a whim. Once you do finally
find a home, there's paperwork to be signed, legal documents
to be filed and inspections and appraisals to be made. Many
people find the process exciting, but it can also be difficult
and exhausting. One thing that would likely make the home
shopping process less stressful is getting prequalified
for your home
financing so that you do not waste time and energy looking
at properties you cannot afford.
It can be especially difficult for people who are trying
to buy a new home on a timer. For people who need to move
out on a certain day, (starting a new job in another state,
lease about to expire, etc.) it may be wise to allow yourself
even more search time, to avoid making a hasty decision.
If things begin moving too fast, just remember that you
are never going to be forced to buy something. The thought
of renewing a long-term lease at your apartment might make
you cringe, but it would be better than having regrets later.
If you're moving to a new area, keep in mind that you can
always rent there, too. A lot of people choose to rent for
the first few months after relocating. This can help you
get acclimated to the area and get a feel for the local
market.
If things are moving too slowly, (you've found your dream
home but you still have 6 months left on your lease or the
sellers can't move out soon enough) you may need to go back
and reevaluate the situation. Would you be willing or able
to buy out the remainder of your lease? Would you be willing
to stay where you are and charge the sellers rent while
they occupy your new home? These are all things to seriously
consider. If you find yourself unable or unwilling to handle
these types of situations, it might be better to go back
a few steps and keep browsing.
The truth is, you can begin looking at real estate listings
any time you want. The sooner the better, in most cases.
Just look with caution. Remember that with home purchases,
time is always of the essence and you need to be prepared
and ready to make this major transition.
Please note that we are not real estate
professionals and we recommend you speak with a licensed
agent when developing a plan of attack. This is only the
opinion of the writer.
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Must
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Selecting
a Real Estate Agent
Developing
a Home Search Checklist
