Home Buying in Franklin Park>Question Details

ray984, Home Buyer in 08873

When should I start looking for a house if I want to move in January?

Asked by ray984, 08873 Mon Jul 2, 2012

I'm currently renting with my lease up on January 31st and would like to buy a townhouse for once my lease is up. I'm trying to figure out when I should start the home searching/buying process in order to close in January. In everything I've read, the timeline varies so much based on the economy and geographic location, but I was wondering if anyone with experience in this market had any insight. I will be going with a standard mortgage and have already started gathering all the materials in order to secure a pre-approval for when I'm ready to pull the trigger.

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Diane Vanvliet’s answer
Hi Ray.....There is no time likethe present to begin your search, as buying a home is usually the most important decision people make in life. A good agent will understand your needs and show you everything on the market at the price point you are comfortable with. Good luck..Diane..agent 732859 2376
0 votes Thank Flag Link Tue Jul 3, 2012
BEST ANSWER
I would count on going into escrow around December 1st as it will take 30 to 45 days to close. This would also give you additional time to move prior to January 31st. How long it will take you to find a home depends on the wants and needs of the buyer. And depending on your area, the supply of homes tends to shrink in the fall, especially as we get closer to holidays and cold weather.
0 votes Thank Flag Link Mon Jul 2, 2012
Hi Ray.....There is no time likethe present to begin your search, as buying a home is usually the most important decision people make in life. A good agent will understand your needs and show you everything on the market at the price point you are comfortable with. Good luck..Diane..agent 732859 2376
0 votes Thank Flag Link Tue Jul 3, 2012
Hi, It's always a good idea to start looking online and going to some open houses now. This way you are in tune with your local market, inventory, and what your money will actually buy. Doing this now will also help with your expectations when it time to actually buy. Expectations can be a major block for a lot of buyers and if you can get them in check now you'll be way ahead of the game.

Good luck!

Christopher Pagli
Accredited Buyer Representative
0 votes Thank Flag Link Tue Jul 3, 2012
You are way ahead of the game - which is a good thing. My suggestion would be to begin looking in earnest in October but you can spend the time in the interim doing just what you are doing ---- perparing to ensure that you are in the optimal position to buy. Now is a good time to chat with a mortgage and I have a great one I can share with you. That way you will have a sense of your budget and also determine if there are any credit issues that you could improve ... while you have the time to do so!

Good luck to you!
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Tue Jul 3, 2012
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