I know this question is hard, but I'm looking for some opinions...
Our apartment lease is up October 1st 2005 - would like to be able to move into a house on Sept 1st...
When should we start looking?
I know it totally depends on if the house needs a lot of work done, but I'm just looking for a general idea.
If I goto a real estate agent in February, will they laugh their heads off at me?
kpny622
Posted:
Member since
Re: When should we start looking?
that's an impossible question to answer unfortunately
the problem is that you have no idea how long it will take you to find a house - some people find a house in a week, some people need a year!
once you find the house, figure at least 2 months to go to contract, get a mortgage, and close
you also have to take into consideration the Seller's time frame as well
starting to look in February is a good idea - definitely not too soon
DjPiLL
Posted:
Member since
Re: When should we start looking?
Start looking in Feb.
J&S
Posted:
Member since
Re: When should we start looking?
I would start looking ASAP bc it took us a long time to find something good and that we could afford. We started looking in March and finally found something we liked in June and put the bid on in June and got the place in August. However it was not ready to move in until Sept bc we had to fix it up. Good luck!
jms100303
Posted:
Member since
Re: When should we start looking?
We started looking in Oct/Nov 2003 we saw out home and put an offer in the week before Christmas last year. We didn't close and move in until March 7, 2004. So I would say it doesn't hurt to start looking now, even if it is just to give you an idea of what you like, neighborhoods, and price.
september2004
Posted:
Member since
Re: When should we start looking?
here's what we plan to do:
we started looking in november to purely educate ourselves and see what's out there. ideally we wanted to buy before our lease is up in april, however we know it is next to impossible to time everything.
IF we find something prior to april and start the whole process we will renew our lease month to month until we close. if we don't find anything before april we will renew our lease for a year with the intent to break it once/if we find something. the month to month option is structured for the short term as the rent increases by a certain percentage every month.
after doing some preliminary research DH and i are extremely frustrated with what is out there. we are at the point where we may elect to wait one more year prior to taking the plunge. we have the option to move into a 2 bedroom in our building and may wind up doing that. we just don't know, everything is up in the air...
we are hoping the spring selling season will produce better inventory, however there will be more competition that may drive up prices even more. we were hoping to buy off season and snag up a good value, it's not looking like that is going to happen
skew
Posted:
Member since
Re: When should we start looking?
i would start looking ASAP! if you are as picky as i am, it might take time (we have been looking since may). not to mention, you are basically at the mercy of the seller in re: closing and terms.
historically prices increase in the spring, so it might be best to find a house before prices rise again in march/april. you could always break your lease if you find a home and close before sept or oct.
