Home Buying in Chicago>Question Details

Beccaj, Other/Just Looking in Chicago, IL

How many homes should I consider before choosing one?

Asked by Beccaj, Chicago, IL Mon Mar 18, 2013

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Mike Opyd’s answer
There is no exact number it really depends on you. In the current market with properties selling the day they come on it may not be a bad idea to move on the first one you think you can see yourself living in but you'll know the minute you walk into the home if its the one for you.
0 votes Thank Flag Link Mon Mar 25, 2013
Look until you are comfortable that you are probably making a smart choice.
A lot of people will eliminate most of the choices on the Internet, narrowing it down to the the perfect few choices. You should take action if you see one that almost has everything you want, as usually the market does not give you everything you want in the price you want. There are other buyers that may not need to think as long as you on that almost perfect house.....
0 votes Thank Flag Link Sun Mar 24, 2013
Thats up to you ... The more homes you see, the more comfortable you will feel and You can then select additional models to compare or change your selection
0 votes Thank Flag Link Sun Mar 24, 2013
Remember, you only need one that meets all of your needs and you passionately love. You will be able to narrow down your options after you see several. You will need to be pre-qualified for a mortgage when you go to make your offer. I would be happy to help you secure a pre-qualification letter and a mortgage. Joanna Weiss 773-327-3580
0 votes Thank Flag Link Thu Mar 21, 2013
Only you will be able to determine how many you need to see before you find the right one. I agree with a couple of the comments below; don't pass up a great place just because it's one of the first ones you see, and also don't deliberate too long. I've just had clients finally go under contract after loosing out in several multiple offer situations. Once you've found a place you think is the best home for you, don't ask a million people for advice and think about it. It may be too late. Be decisive. And work with an agent who really knows what you're looking for and will show you the best homes for you. Best of luck! Happy to help if you need assistance.
0 votes Thank Flag Link Tue Mar 19, 2013
This is different for everyone. However, in many cases, I've taken clients to tour properties, and they hesitated to make an offer on the 1st perfect place that they saw, simply because they had not been looking for very long. Don't make that mistake. When something, "WOWs" you... make a rational offer based on the comparable units in the area, and based on what you know you can afford to pay each month, or you may find that months have passed, and you're comparing everything else that you see to the one that got away!

More importantly, make sure that you understand what you will need to close the transaction.
1) Good credit/credit score. No late payments/No high debt to income ratio. Solid employment.
2) A prequalification letter from your lender to tour properties (unless you're paying all cash, in which case you'll need proof of funds for the transaction);
3) An initial earnest money check in certified funds (cashier's check) for at least 1% of the offer price, to make an offer;
4) A pre-approval letter from your lender + proof of funds for your down-payment amount, to make an offer.
5) An understanding of the difference in the amount of a downpayment that you will have to have at closing, for a property that will only allow for a Conventional loan, vs. the amount of downpayment that you need at closing, to purchase a home that allows for FHA, VA, or Homepath Finaincing.

If you are looking for a realtor, and would like some additional assistance, please feel free to contact me, at angela.bailey@bairdwarner.com

Also, here's a link to some great properties for you to consider: http://angelabailey.bairdwarner.com/
0 votes Thank Flag Link Mon Mar 18, 2013
Thats up to you. You have to be comfortable on your decision.
0 votes Thank Flag Link Mon Mar 18, 2013
Becca,

If it feels right, then do it. Homes are selling fast, its better to put an offer in now then to wait. The more homes you see, the more comfortable you will feel. I have toured as little as one home and as many as thirty with clients. If you have found a home you like, don't let it get away.

Best regards,

Ivan Sagel
312.515.7823
Ivan@atproperties.com
.
0 votes Thank Flag Link Mon Mar 18, 2013
one its the one you like and feel most comfortable with
0 votes Thank Flag Link Mon Mar 18, 2013
8 -16 is the scientificly and psycholoically correct answer
0 votes Thank Flag Link Mon Mar 18, 2013
Such a personal decision, first of all you should by all means work with an experienced Realtor who loves to work with buyers, you need his/her expertise and market evaluations.... with the help of the
Realtor, your personal buyers agent, who will be working on your behalf and in YOUR best interest, to find the right home for you and guide you through the entire buying process paying attention to every detail, do not do this on your own.

If you need a recommendation, let me know what price range you are thinking, how large of a home or small you are looking for and which areas in the city you want to explore and I gladly connect you with
a good Buyers Agent for that area and your needs.

Now to your question how many, well I always tell my buyer clients, as many as it takes until you see
the perfect one for you, in general a buyer who is decided to buy, wants to buy or needs to buy will want to see a few different styles of homes, and during those showings will be able to tell his or her buyers agent what they like about this home and dislike about another, and as we all know no house
always offers everything, but the one that you fall in love with or that has the three or 4 items you
will not do without ... when you see it you will know and your Realtor after a while will have a very good feeling when previewing homes, that there is the one you should absolutely see...

But then everybody is different, some clients make a quick decision go out 2 or 3 times to see several homes, and decide, others take a few months.... it is a very personal way of deciding on the purchase of a home.

I found that the process can be shortened and time saved in two ways
a) sit down and communicate well with your Realtor, (I often have husband and wife write two different lists of what they absolutely must have, those are often different, and then it can be discussed what
both MUST have
b) I found it very helpful with my buyers, to offer them a full or half day home viewing tour in the beginning stages i.e. seeing several homes during one afternoon, it is easier to then compare one
to the other, as the impressions are still fresh. After one or two of those tours my buyers usually
can change some of their must haves and do not care lists and we are off and running and I can as their buyers agent preview homes and call them when I see something that could work for them.

Hope this helps you a little, and let me know if I can help with recommending to you a good Buyers Agent (By the way no fee to you, just your loyalty and commitment to just ONE Realtor is required as they usually with listings by a brokerage / mls listing are paid at the closing by the seller's side~!!!!)
Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Mon Mar 18, 2013
Most folks tend to look at 20+ before buying, but it can depend on whether this is your first purchase or if you have done this before and how familiar you are with the area.
If you have lots of choices it can take longer than if you have fewer choices based on the criteria you are using. Once you become familiar with the area/property then you will have a better 'feel' for what you want and then it will take less time.
0 votes Thank Flag Link Mon Mar 18, 2013
Work with a LENDER and a REALTOR to assist you in this process of finding the right home.

#1 - It must be affordable
#2 - It must meet some/most of your needs
#3 - Repeat #1 & #2 until you succeed
0 votes Thank Flag Link Mon Mar 18, 2013
Becca

It all depends on how you focus your search. You may prefer to do lots of online research. You may prefer to have an agent do the legwork for you. If you have a very specific type of property in mind it may take some time. If you are open to "anything" as long as it has your basics, you may find something quickly.

Geoff Ommen
Broker Baird&Warner
847-271-2622
geoff.ommen@bairdwarner.com
http://www.geoffgetsit.com
0 votes Thank Flag Link Mon Mar 18, 2013
Hi there! Sometimes it may be 1 or 10, but it depends because if you narrow down what you really want, you can find your perfect home immediately.
0 votes Thank Flag Link Mon Mar 18, 2013
As many as it takes until you find the right one - it could be the first one you see (but you should probably check out a few just in case)

Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773 290 0455
0 votes Thank Flag Link Mon Mar 18, 2013
There is no "magic number" as a full time broker for nearly 25 years, I've had clients look at 3 or 4 and find one they like and make their offer, I've had others who looked for months or even close to a year and who saw many dozen homes.

When you find a home that meet the majority of your needs, is in an area you want to be in and in your price range it's time to let your buyer broker know and to sit down with them and put your offer together. As you do look at homes you really want to let your Realtor know how you're feeling about what your seeing. Often times what you dislike is as or more important that what you like. If your Realtor is doing their job properly they will be paying attention and if they know their market well will be able to find you just what you're looking for making the process smoother as well as quicker.

Good Luck and happy house hunting.
0 votes Thank Flag Link Mon Mar 18, 2013
When you think about this question;
Maybe it would better not to think about it.
0 votes Thank Flag Link Mon Mar 18, 2013
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