NWR: House-Buying Advice

Re: NWR: House-Buying Advice

• dawnp917

  

  June 2012

  We just bought a house and moved in at the beginning of the month. I do not recommend trying to house hunt, move and plan a wedding at the same time. Way too stressful. We ended up doing no planning for the wedding for about 6 weeks. You will quickly get overwhelmed and have no time for anything else.

  
  August 2012 - Married!

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• mercy4

  

  June 2012

  From the time we started looking until closing, it was about three months.  Use your MLS site for your state and narrow your search by price, town, and any factors you need to include.  Get a pre-approval if you want things to go faster.  We would contact listing agents when we were interested because we felt we could do better by bidding through that agency.  In the end, we found our house when looking with a friend who is a realtor, so I was happy to give her the commission.  If you are truly interested in a house, make a reasonable bid that you feel comfortable with and also will not turn off the seller, but don't let your emotions get too much in the way, because the right house will work out for you when it's supposed to.  We thought we loved a house but it didn't work out and I am so glad it didn't because we found our dream house.  Good luck and take it in spurts!

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• libby2483 member

  

  June 2012

  In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_august-2012-weddings_nwr-house-buying-advice?plckFindPostKey=Cat:Wedding%20Club%20BoardsForum:1fb748ee-7a4e-40eb-b4b4-e553486f4cacDiscussion:f9ec41b4-de15-4fbc-8e03-9a36090d3dfdPost:829cecee-9da2-4395-af02-744015a079a4">Re: NWR: House-Buying Advice</a>:
  [QUOTE]We just bought a house and moved in at the beginning of the month. I do not recommend trying to house hunt, move and plan a wedding at the same time. Way too stressful. We ended up doing no planning for the wedding for about 6 weeks. You will quickly get overwhelmed and have no time for anything else.
  Posted by dawnp917[/QUOTE]
  
  <div>The only reason we feel like we can do both wedding planning and house hunting at the same time is that we are both teachers, so after this week, we will be on summer break until after the honeymoon!  If we were both going to be working full-time too, we definitely wouldn't try to do all this at once, but we think we can manage it with our schedules.  </div>

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• 20pearls16 member

  

  June 2012

  I just bought my fourth house so I know A LOT about house buying. Be prepared for the unexpected. Although they give you a settlement date, only one of my houses went to settlement on the date that was set. Also make sure you have your mortgage terms set before settlement. I got screwed at one settlement where they changed my interest rate at the table! To say I was pissed was an understatement. I would have walked away from the deal but all my stuff was in a moving truck in the parking lot. Although I still have that house as a rental, I still am stuck with that mortgage rate.

  

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• rungirl12 member

  

  June 2012

  I think you're ok to house hunt & wedding plan if you both have the summer off.  The pain and time consuming part will be your actual move.
  
  I bought my house solo over 5 years ago.  Here's what I would recommend:
  1) Figure out what YOU are comfortable paying for a monthly payment and get pre-approved for that amount.  Do NOT let the bank pre-approve you for what they think you can handle.  That's why there are tons of foreclosures now - people were approved for amounts they couldn't handle with their other expenses.  Don't forget about the amount you will pay in taxes - that should be figured into your monthly payment.
  2) Go through a credit union rather than a bank for your loan if possible.  They usually have better rates and lower closing costs when you sell.  Less red tape in my opinion.
  3) If you're looking for a "starter" home and may move within the next 10 years, consider putting the house in only one of your names so that down the road, the other can be a "first-time homebuyer" and possibly qualify for special rates/loans.  We are not putting FI on my loan for that reason.
  4) I overlooked certain things since I bought my house in Sept that are specific to winter.  I did not inspect the furnace (which has been ok so far), or consider the amount of shoveling snow I would have to do (I'm on a corner).  Likewise, consider things like mowing the lawn, air conditioning, and if it has a basement, consider if there are any visible water marks on the walls or flooding issues.
  5) When figuring out your monthly payment, don't strap yourself too tight - consider things that will pop up like needing a new roof, a new furnace, a plumbing issue (I found out tree roots often grow into your sewage pipe eventually causing back-up and you need a plumber with a roto-rooter), appliances that break.
  6) Consider what a house will need to be "move-in ready" - things such as appliances, window treatments, etc.
  7) Consider looking up the police reports filed in the immediate area - it could clue you in to a problematic neighbor.
  
  Hope at least one of these is new advice to you and helps you out.  Happy hunting!  It's an exciting time when you find that one you decide to put an offer in on!

  

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