Buying house | Imamother

amother

Mon, Jan 11 2021, 5:56 pm

I am planning on moving in July and would like to buy a house then. When should I start looking for a house?

amother

Azure

Mon, Jan 11 2021, 6:00 pm

Your first step is seeing a mortgage professional to see if you qualify for a mortgage and what your price range is. They can tell what you need to do in order to get the loan. I would speak to a realtor next for a time frame.

Malkqueen

Mon, Jan 11 2021, 6:03 pm

Today.

The process from when you find the house until you sign the deed can take a good few months.

amother

Lawngreen

Mon, Jan 11 2021, 6:05 pm

amother [ Azure ] wrote:

yup! start now. It can take a long time.

amother

Mon, Jan 11 2021, 6:06 pm

you think it can take 6 months?

amother

Honeydew

Mon, Jan 11 2021, 6:06 pm

Now!!! Took me 3 years to find a house

amother

Azure

Mon, Jan 11 2021, 6:15 pm

It can take a month or it can years. I would start the process now. It usually can take a couple months till you find the house you want and can take anywhere from a month to 3 months for a normal.closing.

amother

Mon, Jan 11 2021, 6:17 pm

I already own a home so qualifying for a second home, I was told shouldn't take as long as an original home buyer. The house would be in a completley different state so I am not sure when to start traveling there to look at houses.

amother

Mistyrose

Mon, Jan 11 2021, 6:19 pm

It totally depends on the market. Ask realtors or local people in the area you are looking to buy. From when we saw our house for the first time until we closed and moved in was under 2 months.
Keep in mind if mortgage rates stay low the banks are very busy and might take longer to process your loan.

amother

Azure

Mon, Jan 11 2021, 6:24 pm

amother [ OP ] wrote:

As someone in the mortgage business I can tell.yiu that it can take just as long long as an original.buyer. It will depend on your situation. I know ppl.who have bought out of state recently. You need to be in touch with realtors over there to know what the market is like.

amother

Rose

Mon, Jan 11 2021, 6:25 pm

We've been looking for years and still haven't found what we want, in the location we want, at a price we want. Yes, we're particular but this is a major life decision. And we would rather rent (at a very good price) than compromise on what we want. I know some people are more of the opinion, well we'd rather buy something, then move.
If you're saying you want to buy come what may in July, there should be something on the market, but you are likely to have to compromise somewhere, if not in many areas.
But you definitely need to have a discussion re finances, what you can afford and start looking around what is available. Talk to people who've bought and learn from what they say they regret doing, or something they found very important. Obviously it might not be the same things as you, but it can be helpful.
Things to consider, size of house, condition of the house, location, potential for expansion space if needed, size of yard, neighbors (or lack thereoff), proximity to schools, shuls, shops etc. Look at the neighborhood. Is it your demographic or are you going to be decades different to everyone else? Is it an area where you would be happy for your kids to walk by themselves, or are you going to be nervous they might be attacked? Will you want it in move-in condition or are you happy to do a full refurb? If it's small, can you extend, whether outwards, upwards or downwards? Are there any people in the area that you can ask whether planning permission is difficult (we looked at a house with masses of expansion space, where the neighbor told us they're moving because they applied for planning permission to extend their small 3 bed, but couldn't get it), How far will your dh want to walk to shul on shabbos, 5mins, half hour?
You really should start thinking through what is essential to you and what is a want rather than a need.
Also mortgage applications often take 6 months. Do you have the necessary paperwork, money all in hand? Also the owner might want to wait and see if they get any better offers and might not accept your offer for a while.
Look up articles on buying a house, what to avoid, what to know. Learn a little before jumping in. Good Luck.

amother

Lawngreen

Tue, Jan 12 2021, 3:36 pm

I just closed.
till I found a home was 6+ months
and till closing was over 60 days. the market is so crazy now so closing takes so much longer.

tichellady

Tue, Jan 12 2021, 3:37 pm

Definitely depends where but took us 9 months

Chayalle

Tue, Jan 12 2021, 3:44 pm

I moved to my (2nd) home 3 years ago.
We were looking for about a year, but I wouldn't say all of it was active looking. We had looked at a certain house seriously, but DH had some concerns, so we were kind of dragging our feet.
One day I saw our house listed. Thought it was an idea, the house, the area, called the agent, went to see. Dragged DH there once I saw it....we moved in 3 months later.
Totally different neighborhood than we had originally targeted.. and B"H we are very happy here.
So it's not too early to start looking...it can take a while sometimes....

shabbatiscoming

Tue, Jan 12 2021, 4:06 pm

amother [ OP ] wrote:

OP, each place will be different.
I know someone wo has been looking for the perfect home for 5 years. And I know others who found in 3 weeks. There is literally no way to know unless you know the area you want and know if and what is or is not available.
Why not contact a realtor in the are you are interested in to find out if there is anything available where you are interested.
Its definitely not a123 kind of thing.