Whether you are looking for a three bedroom home in Locust Grove, a property with acreage in Orange, or a townhouse in Wilderness Shores, the answer may surprise you.

When I first meet with new buyers, one of the most important questions I ask them is, “When do you want to be living in your new home?”  The answer to this question tells me when to start searching for a home actively.  Actively searching for a home means that the buyers are pre-approved for a mortgage, have a general idea of what they want in a home, and are ready to start looking at properties in person.  I usually surprise a few buyers with my answer to this question because my answer is a lot sooner than the buyers suspect it would be.

If you needed to be in a home on July 1st, then when do you think you would need to start searching?

How to determine when to start searching for a home

Everyone’s situation is different and unique.  Some buyers have a rental agreement, so they don’t want to move until near the end of the lease.  Other buyers need to sell their current home.  Some can search for a home while staying in their current residence for as long as necessary.  

What doesn’t change is the time it takes to secure a loan and move through the home buying process.

The date for when to start searching for a home should be determined by the steps in the home buying process that don’t change.

Step One to determine when to start searching for a home

To get an idea of when to start searching for a home, pick a date for when you need to be moved into a new home.  From that date count back forty five days.  This date is when you need to have an accepted offer on a home.  Why?  It generally takes about thirty to forty five days for your loan to be approved and funded.  There are also steps in the home buying process like completing a home inspection that need to happen.  You also want to give yourself a little cushion for holidays when banks are closed and a few days for negotiations.

For example, if you want to be in your new home on July 1st, you will want to have an accepted contract on the home by May 17th.

Step 2 to determine when to start searching for a home

Now that you know when you need to have an accepted contract, you need to allot time for searching for a home.  While this can vary by the level of activity in your housing market and your specific needs (here is the latest Locust Grove housing market report), most buyers take thirty days to find a home.  Your Realtor® can give you specifics about the housing market where you are searching for a home and may even suggest adding more days onto this search window.  From the anticipated accepted contract date count back another thirty days.

For example, if your accepted contract date is May 17th, then you will want to start going out and touring homes on April 18th.

After doing this simple math, now you know when to start searching for home.  This is all assuming that you are pre-approved and ready to go.  If you need to get pre-approved, the process can take a few days as long as the buyers are prompt with gathering paperwork requested by the lender.  It is essential to be pre-approved because going through this process determines your home buying budget. 

Did you guess around April 18th as the date for when you should start actively searching for a home if you need to move in July 1st.  Are you surprised?  While a July move in date sounds far away, it is really not.

Knowing when to start searching for a home is important because it will help set you up for a smoother real estate transaction. Taking away some of the stress and pressure of selecting a house when you are up against a deadline can help make your home search more enjoyable.