When Should You Start House Hunting?

You’ve decided to take a big step in your life… buying your own home. It’s exciting and, let’s face it, a bit intimidating! How do you start house hunting? When do you start? No time like the present! 

You can start right now by taking a close and honest look at your financial state, working on boosting your credit score, and, of course, saving for a down payment. These are all excellent ways to prepare. But when do you start to dig in and get serious? 

Life is not a television show. You don’t go out to a viewing, fall in love with a home, and move in the next day. It is a process, and it can sometimes be a lengthy one.

When to Start Looking for a House

As a general guideline, it’s advised to start house hunting five to six months before you want to move in. This might seem like a long time, but there’s plenty to do. 

Now, remember, depending on various factors, including the state of the market’s, the process may take longer. For example, in late 2020 and early 2021, we are experiencing increased buyer interest with a concurrent shortage in new listings. Finding a house that you would love to call home and beating out other highly motivated buyers can be challenging at this time. You might reasonably expect that your journey will have a few more pit stops and bathroom breaks.

We’ll use the general five-month guideline, but remember, you may have to adjust your expectations accordingly. With that disclaimer, let’s tackle a big question: what about your lease? You don’t want to be in a position where you have to renew a year-long lease only to move into a house. Nor do you want to be without a roof over your head if you don’t renew, but you're not ready to move. It can be a tricky balance.

The best practice is to start house hunting about five or six months before your lease is due for renewal. This will give you time to get pre-approved for a mortgage and look at potential homes.

5 to 6 Months Out 

At this time, you should:

• Clarify your search criteria. Look at your must-haves, nice-to-haves, and I-don’t-really-cares to guide your search.
• Start some low-key house hunting. Look online and even drive around the neighborhood and look for “For Sale Signs.” See what’s out there - and for how much.
• Continue saving for your down payment, as well as closing costs and miscellaneous items that you’ll need upon moving into your home.

Four Months Out

Things are picking up steam about four months before your desired move-in date:

• Continue searching for suitable houses.
• Get pre-approved for a mortgage. Pre-qualification just gives you an estimate of what you can afford to spend on a home. Pre-approval, though, means the lender has verified your credit, income, and other criteria and has approved you for a specific amount. A pre-approval letter shows sellers that you are serious and have the financial wherewithal to meet your financial obligations. 
• Connect with an experienced real estate agent. Some people wait on this, but we see no reason to delay. An agent can be an invaluable guide through the process, and the sooner you bring one on board, the better. 

Three Months Out

Now’s the time to:

• Make sure you have selected a real estate agent. If you’ve put it off, if you’ve been vetting a few different options, make a decision. Your agent will utilize their MLS system, as well as their network, to find homes that meet your criteria. 
• Keep looking at houses! Your search will now be much more focused and effective. And, again, you have help, take advantage of it.

Two Months Out

More viewings, more searching! People generally look at about eight homes before making their offer. Don’t settle, but remember to manage your expectations:

• If you haven’t found a house yet, take the time to refine your search criteria, and hit the house-hunting circuit again.
• If you find a house that you want to become home, work with your real estate agent to put in an offer.
• Continue putting money towards closing and other costs.

Typically, after an offer is accepted, you can take possession within four to six weeks. 

One Month Out

Things are getting exciting! With an accepted offer and a possession date, what’s left to do?

• Provide your mortgage lender with all required documentation. Didn’t they already do this when pre-approving you? Yes, but now they need to dig deeper and request supporting documentation (pay stubs, tax returns, etc.). You will also settle on your mortgage’s terms and conditions (e.g., what are the rates? Do you need private mortgage insurance?) and find out what your monthly payment will be.
• Schedule your home inspection. Offers should be contingent upon the inspection results; make sure this is explicitly stated in your closing agreement. In other words, if toxic mold is discovered, you may withdraw your offer without penalty.
• Call your insurance company to get a homeowners policy lined up. This might be a condition of closing as well.
• Pack! Stock up on boxes and packing tape, and get to work. If you require movers, get them scheduled or find friends and family members who will work in exchange for pizza.

Closing Time 

After closing, you will get the keys. You’re home, congrats! 

Now that we’ve had time to mull over the 5-6 months recommended, start house hunting and be sure to give yourself plenty of time. The more rushed the process, the more stress and anxiety you will experience. Time allows you the flexibility to find what you’re looking for and avoid moving into a home that doesn’t suit you. 

Ready to start house hunting? Work with an expert real estate agent profiled on Homes & Land for a superior home buying experience.