House Hunting
Looking at homes is seriously exciting! But it can be stressful too. Here are a few things you can do to make your time more manageable.
Two words. Slip-on Shoes! Especially if you are viewing multiple homes at a time. You will spend most of your time leaning on doors to put your shoes on at the same time as your realtor and co-purchaser. Slip them on and off, and you are ready to run.
Bring a notepad or clipboard with the feature sheets to make notes. When you look at many homes in a row, you will forget things that is guaranteed. Or take notes on your phone. Please do not take pictures unless your realtor says it’s okay. Some homes are tenanted, and that is strictly not allowed. Other homes you are viewing may have left personal or identifiable information out - i.e., family photos, bills, etc.
Having water and snacks in your vehicle is also a good idea if it’s a long day or showings run over. This brings the question, am I driving my car or riding with the realtor? It’s usually a personal preference. Ask your realtor. If you are in an amazing race viewing many homes, riding together might be preferred, but travelling convoy style also has benefits. You can discuss the homes privately when you are on your own.
Back inside the home, remember that many people now have cameras and recording devices installed. So wait until you are back in your car if you have the urge to giggle at an odd collection, or conversely, if you are pumped and want to make an offer, wait until you leave to discuss it so your desire isn’t used in negotiations, and so you don’t get the buyers hopes up if you change your mind.
As you are slipping off shoes and running around homes, you and your partner will look to see if you like the layout, the property, and things that cannot be changed. You will likely want to note the items you want to change so you can mentally or physically (later) tally up any costs associated. At the same time, your realtor will either escort you or look for signs of issues - water stains on the ceiling, peeking into crawl spaces, windows, etc.
Feel free to open closet doors and kitchen drawers to check for size but leave personal effects such as furniture alone.
If you like the house, look even further - note down hot water tank dates, make and model of appliances, and other things to do with the offer. If you hate the red appliances, for example, your offer could exclude those items with the ask for them to be removed.
Other things to look for that would be noted on the listing are anything out of the ordinary, different water and sewer systems etc. You will want these inspected (more on that later).
When you finish your showings, you will want to chat everything over. If there is a home you like and you are thinking about making an offer, let your realtor know. Ask them about the next steps and advise them when you will be reaching out, so they can make sure they can write and present it promptly.
Deciding is the challenging part that no one can help you with. But weigh the pros and cons against your original list. This can be helpful unless you fall in love with a wildcard - which does happen. If the house has anything highly unusual about it, and you are thinking of writing an offer, it doesn’t hurt to reach out to your mortgage broker too. For example, say it has a different type of foundation or unique water source; it would be wise to ask them if this will change your pre-approval. As we mention in the eight steps flyer, first, you must be pre-approved, then the house must be approved.
Once you have decided to make the leap, reach out to your realtor, who will walk you through everything from what to put in and leave out of the offer and what to expect with each step, from writing it, to when to hear back, to the back and forth that always happens and timing.
Then comes the hard part - waiting. Watch for the next blog in this series… Offer Acceptance