6 Essential House Hunting Tips From the Experts

House hunting is both exciting and exhausting. Home shopping can be a long process, and the stakes feel high. After all, you’ll be living in the home that you eventually choose, and it’s probably the biggest financial commitment that you’ll ever make. Since wading through the experience can be arduous, we asked real estate agents from across the country for their house hunting tips to make the process a little easier for you. 

“First and foremost, get prequalified,” says Jeffrey Earl Warren, an agent based in Napa County, California. Prequalification means that a mortgage lender has reviewed your finances. After you’re prequalified, you can move onto the next step of getting preapproved for a loan, which is a more formal process and is a commitment from the lender that they will issue you the funds for a mortgage. 

Lacking prequalification could delay the home buying process, as another buyer could scoop up the home you were hoping to get while you wait for approval from a mortgage lender. An official prequalification and preapproval may also give you a leg up with sellers.

One of the most important aspects of buying a house is making sure that you’re financially prepared for the significant responsibility of homeownership. This will entail taking a detailed look at your income, savings, debts and credit score to evaluate what you can afford and what that price range will get you in your area. 

“When we start working with new clients, especially first-time homebuyers, we always advise them to nail down their budget first,” Westchester County, N.Y. real estate agent Elina Edelman said. “If they plan to obtain a mortgage, it's important to speak with a mortgage broker or banker first so they know exactly what they can afford and there are no surprises or hiccups from the start when it comes to setting a budget.”

A budget should take into account the monthly mortgage payment as well as additional hidden costs such as real estate taxes, homeowners insurance, mortgage insurance, utilities and repair costs. 

“We always encourage our clients to shop around when it comes to securing the best rate and mortgage terms and understand all of the fees and costs associated with a mortgage,” Elina’s colleague, Jessica Feuerstein continued. “In today’s competitive market, it is very important to obtain a preapproval letter (or Proof of Funds if paying all cash) prior to seeing your first home.”

“Most buyers don’t think they should contact a professional if they’re not ready to buy,” says Jenn Barrows, based out of Rehoboth Beach, Delaware. “We prefer to speak to potential buyers as early as possible. We love to help our buyers strategize and we often work together for years before the time is right for them.”

While you may not want to get prequalified or preapproved until you’re ready to buy (preapprovals are usually only valid for between 60 and 90 days), dipping your toes in the market by getting acquainted with a real estate professional can be done further in advance. In fact, numerous agents that we interviewed recommended starting the process early. 

“Many times, first-time home buyers wait until their lease is expiring or a life event forces them to move, and they need to contact an expert,” Raleigh, N.C. real estate agent Megan Hackley said. “My best advice is to start connecting with a real estate advisor well in advance. A great Realtor would love to have a consultation and help set you up for success in the future.” 

Your real estate agent will be there with you throughout the entire process of finding a home. They’ll serve as guidance while you search for homes in your budget, and will be able to offer housing market and neighborhood insights that you may otherwise lack if you were going about the process on your own. 

Choosing the right agent will be an important part of your home buying journey. Still, research from the National Association of Realtors indicates that 71% of buyers only interviewed one agent during their home search last year. 

“Always get a Realtor to represent your interests,” Jeffrey Earl Warren continued. “Don’t go directly to the listing agent as they are likely to be conflicted.” 

“Do your research and find a good Realtor,” Hilton Head, South Carolina, agent Tierra Schaffer suggests. “Your Realtor’s experience and reputation matters and could save you, or cost you, a significant amount of money. Talk to friends and family who recently purchased, read reviews online, and interview your Realtor to ensure your personalities are a good fit.” 

A list of your needs and wants will help your real estate agent curate a list of available properties, and will serve as a reference point as you weed through homes during your search. This list should differentiate between what is essential and what would be a nice bonus, considering both your current lifestyle as well as future plans. 

“A first time home buyer should remember that no home is ‘perfect,’” Tierra Schaffer continued. “Many buyers have a long list of criteria for their dream home. Don't miss out on a great home because one or two items on your wish list are missing. Make a list of five to 10 important features and aim for a home that meets most of your criteria.” 

Homes.com is a great resource for those getting started on their home buying journey. The detailed search tool allows you to view homes for sale based on location, purchase price, bedrooms, bathrooms, size and home type. Each listing also includes a mortgage calculator to help you estimate your monthly payment.

Other details include the number of parking spaces, the year the home was built, ratings by Niche and GreatSchools, views, amenities, and both interior and exterior features. You can even save your searches, that way you don’t have to enter in all your criteria every time you visit the website. 

A home is more than just a roof over your head. Its location and your lifestyle are important factors to consider. Think about your household dynamics and future needs when selecting a location. 

After all, buying a home is not just about the financial investment, but also the investment in living. Be sure to weigh the qualities of the neighborhood, commute times, local amenities and the school district. 

“It's crucial to have an open and thorough discussion with your Realtor about the different neighborhoods you're considering,” says Kelly Law, a real estate agent in Houston, Texas. “Location is a key factor in your home purchase, affecting not only your daily life but also the long-term value of your investment. Your Realtor can offer insights into the strengths and weaknesses of various neighborhoods, such as school quality, local amenities, future development plans and potential for property value appreciation.” 

Keep in mind that homes that require some extra love and care could greatly impact your lifestyle, too. After all, having handymen trekking in and out of the house for months at a time to renovate the kitchen is a massive inconvenience.

“Be realistic,” Jenn Barrows suggested. “You can’t have the best price, location and condition. You will have to compromise on one of the top three.”

When evaluating a property, it’s easy to consider the aesthetic pros and cons. You’ll quickly know if a home suits your taste. But a home is more than just its charm. 

You’ll want to go beyond the aesthetics and take a look at the structural integrity, potential updates that will be needed, signs of wear and tear, and long-term maintenance needs. While thinking about the current state of the home, you can also discuss potential resale value and future improvements with your real estate agent.

No home is perfect. But it’s important to be on the lookout for potential red flags before you sign on the dotted line. 

When looking at a listing, be wary of homes that don’t have photos of all the rooms in the house – especially the kitchen and bathrooms. A price that seems too good to be true and a house that quickly returns to the market after it was last sold may mean there are some structural issues or other major projects depleting the home’s value. 

While touring the property, be on the lookout for issues such as water damage, mold, cracks in the foundation, termites, sagging ceilings and decks, and lead paint. You probably won’t be able to spot everything on a home tour. Often, issues could be hiding beneath the surface, but you may be able to recognize an issue or two and ask your agent the right questions. When you’re ready to buy, an inspection will bring your attention to problems that will need to be remedied. 

Make sure you arrive at a property with a list of questions to ask your real estate agent, and don’t be afraid to ask anything that comes up. Write down any questions they don’t have an immediate answer for, and make sure to send a follow-up email. If the home’s listing has a 3D virtual tour available, this tool will help you determine questions that you might want to ask during the in-person showing. 

There’s no such thing as a dumb question during the homebuying process. It’s far better to be prepared and knowledgeable than face issues that could have been solved if the right question had been asked during the walkthrough. 

Finding your dream home can be a difficult and tiring process. Still, with the help of your real estate agent and the advice of both experts and loved ones who’ve purchased a home before, you can make the transition from renter to homeowner enjoyable and exciting. 

“Buying your first home is a very exciting milestone, and as such it is often a very overwhelming and emotional process,” Jessica Feuerstein said. “It’s extremely important to be prepared and know exactly what to expect every step of the way. Having a buyer’s agent in your corner to guide you and help you navigate the complex and ever-changing real estate landscape is crucial.”