Buying A Home
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Newbie - currently searching for a home!

Hi all!  My FI and I began the home-buying process about two weeks ago and I'm glad to find others that are in the same boat!  We actually put in an offer on a house last Saturday that we just found out wasn't accepted...bummer.  But I toured a house today and we're putting a bid in tonight on!  It's a brand spanking new listing and although we'd have to go buy appliances, it has central air and a finished basement, something that other houses in our price range don't have.  

So...any tips on how to get through this whole process?  It's stressful enough and we've just started!  How many homes did you bid on before you finally got one that you wanted? I'm praying this one is IT for us!  

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Re: Newbie - currently searching for a home!

  • We put  offers on about 6 or 7 houses before we finally had an offer accepted. Here in the Tampa area, the market is very aggressive. Bidding wars like crazy! Many of the houses are going for more than the listing price.
  • Good luck! We put a bid in on one house that wasn't accepted. Then we found another we really liked, brand-new on the market, so we made a very aggressive offer on it (to avoid a bidding war). And it was accepted! We might have overpaid by a bit, but we still got 10k below asking price, so we are really happy.

    I do think it really depends on the market in your area/neighborhood. I am sure you will find the right one soon!
  • Congrats on already finding a house that works for you! We were very picky and shopping in a market with pretty low (and often undesirable) housing stock in our price range, so our process took a lot longer than is typical. In 18 months we fell in love with 5 houses, went under contract on 4, and are settling tomorrow on "the one".

    It can be a real roller coaster ride, so make sure you've fastened all safety devices and keep your hands inside the ride at all times. :) No, really, my very best advice is to be as emotionally detached as possible. That was a hard lesson for me to learn, but it was the best thing I could do for myself. Buying a house is a business transaction, and absolutely nothing is a sure deal until you have the keys in your hand. If you can maintain a healthy emotional detachment from the process, it becomes much easier to handle the ups and downs. And remember, if your current offer doesn't work out, it will be okay. There will always be more houses for sale, and you will be able to fall in love with a new one if you are patient enough to keep looking for it. Good luck!

  • That is very exciting news!  I only bid on one house and now I live in it.  I think I was more stressed under contract than in trying to find one.  You have inspections and appraisals and then getting everything approved to close on time.
  • Ahh, I'm struggling on the emotional detachment right now!  I really love this house we put the latest bid in on.  I spent like an hour on lowes.com looking at appliances with my FMIL last night, too.  When my FI and I first started discussing buying instead of renting (our city's a buyer's market right now) I kind of went back and forth over the responsibility of home ownership but now I really want our own place.

    One silly thing my FI pointed out to me - he's a graphic designer and the street is Glaser - Milton Glaser is a famous graphic designer.  A good sign, maybe? Haha.  :)

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