When you have saved up enough money for a down payment on anew home, you may start wondering what the best time to start looking for a new home is. This guide will share how early you should start looking for a home and the steps you must take. In general, the best time to start looking for a home is around five months before you plan on moving into the house. That will provide you with enough time to get everything in order and move into your new home at your own pace.
To figure out when you should start looking at homes, the best thing to do is plan everything backward. You don’t want to be in a position where you are not prepared to move into your new home. Therefore, we have prepared a timeline to provide you with a guideline on when you should start looking for a home.
Month One (5 Months Before Moving In)
Start looking at open houses in the areas you like and look at the prices of homes. You should also start interviewing real estate agents at this point. The real estate agent will show you the houses and chat with sellers to find out if they are a good fit for you.
Month Two (4 Months Before Moving In)
It’s best to get your mortgage affairs out of the way before you start looking at houses you like. That will mean getting approved for your mortgage and ensuring all the paperwork is in order. At this time, you want to get a general feel of the neighborhood and compare the prices of the homes.
Month Three (3 Months Before Moving In)
At this point, you want to pick a real estate agent who starts searching for houses in your price range. You will need to sign a contract with them, and they will look at house listings that match your criteria and your price range. House hunting can be stressful, so having a real estate agent with experience is crucial to ensuring your peace of mind.
Month Four (2 Months Before Moving In)
Research has found that the average person will look at eight homes before they make an offer. It could be more or less depending on your budget and preferences. However, it’s a good ballpark figure that you should aim for, and if you want to look at more homes, that’s perfectly okay. Typically, you would possess a house within four to six weeks after making an offer, which means if you found your dream home today and made an offer, you could move into it within a month.
Month Five (1 Month Before Moving In)
Once you have placed an offer and it has been accepted, things can move quickly. As you wait to possess your new home, the bank or lending company will want more information. You will be required to pick the term and type of mortgage and verify other loan details. You will also learn about your monthly mortgage payments at this point, which will allow you to plan your finances before you move into your new home.