House hunting

Looking for and buying a new home can be exciting, but learning some tips for house hunting can help save time, money and hassles.

There are many things to keep in mind when you're looking to buy a home. Planning consists of many items, including deciding if you need a real estate agent, how much you can spend and your mortgage structure. There are several tools available. Before house hunting, here are a few things you may want to consider.

Know your budget

What can you realistically afford? Determine if you’ve saved enough for a down payment. Setting a budget can help steer buyers away from out-of-reach properties that are beyond their means. Moreover, having a budget in mind can help make it easier to find a dream home in your price range.

Get prequalified for a mortgage

Once you’ve determined how much you can afford to spend, ask lenders for an assessment and a pre-qualification letter outlining what you can borrow. Research various available mortgage options. Getting your financial life in order can save time, aggravation and heartache when purchasing your home.

Make a list

Before tackling the issue of how to find a house, it can be helpful to know just what kind of house you want to find. Write a list of ideal features and aspects of your next home. Create a clear picture in mind of that kind of house that would satisfy your requirements. Here are some questions you may want to consider answering:

• What kind of place do you want to live in? Once you've determined a budget, decide if you want a house, apartment or condo.
• Is more than one of those options acceptable to you? This is an important distinction. What you can get from each type of home will vary substantially for the same budget.
• For houses specifically, do you want a move-in ready home or a fixer-upper?
• Are you looking for a starter home or a forever home? What about a freestanding, single-family home versus a multifamily home like a townhouse?
• What does your ideal home look like? What amenities does it offer?
• Where is it located? What is it near? Consider looking at places that aren’t necessarily at the top of your budget to allow room for negotiation.

Once you’ve created a list of your “must-have features,” create a second list of your “nice-to-haves” for your new home. Do it before you visit any homes. This way, you'll have a clear idea of what you're looking for and can reduce the risk of compromising on something you might consider essential. Having a list serves as your own reference document — a standard or baseline to compare with each home you view.

Consider a real estate agent

You can search for a house on your own, but there can be many advantages to using a real estate agent. If you decide to work with a real estate agent, they may help you find your perfect house. Real estate agents are usually compensated on either a flat fee or percentage of the final sales price of the property.

Things to look for when buying a house

Gather information about neighborhoods, school districts, crime statistics, commute time and local communities. Much of this is available on the internet. Popular websites and apps – Zillow, Redfin, Homes.com and Realtor.com – can help offer comparison features for different homes. They can also be a way to determine if the area is a good fit for your lifestyle. Since commute time can be a major factor to consider, check out public infrastructure and things like parks, libraries or social gathering spots like nightlife, hobby spots and cafes. There are many things that make for a good place to live and it differs with every person, so take a close look at potential areas and see what works best for your preferences.

Also consider spending some time thinking about how much you can afford to pay, and what kind of home might be right for you, given your household income. While forming your house-hunting checklist, you may want to think about using a home-buying checklist as well.

Side-by-side comparisons

Think about looking at homes and neighborhoods in person. While online research can be helpful, there’s also unique value in seeing and experiencing these places for yourself. And as a matter of diligence and practicality, seeing a home in person can help avoid any misrepresentations or flaws an online home listing may try to hide. Plus, an in-person experience of the area can help you better compare listings. A scorecard to compare homes can be a great tool to use after looking at several houses. Consider a home comparison chart to eliminate the frustration of forgetting why you liked or disliked a home.

Relax, stay focused and don’t get discouraged

One of the most important house hunting tips? Maintain your perspective and be patient. The process of finding a home may take months. It can also be determined by current market conditions, location needs or other considerations that may be unique to your situation. So, don’t lose hope — finding the right home is a process that takes time, even under optimal conditions.

You may stumble upon your dream home the first day of searching, or it might take some time. If the process ever starts to feel like a lot of work, use a helpful motivator: Remind yourself that the ultimate goal is to find the right home for you.

Once you’ve found your new home, you can get a homeowners insurance quote now, or give us a few details and a State Farm® agent will reach out to you.