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My apartment lease ends 9/13/2021. I've been convinced to buy a house as it's the better option than renting. So being that today is June 21st is their enough time to start the home buying process before my lease is up or should I sign another years lease and then take the time to find a good house? I'll be a first-time home buyer.
You won't know unless you try, and it depends on lots of things.
But good luck going forward.
It's possible to buy a house and close in 30 days.
It's finding the house that can take a while. Took me 10 months but when I found it my offer was accepted the same day the ad came out. 30 days later I owned it.
Price point and location are always the prime drivers in buying a home
Much of the DFW market is hot
People are supposedly paying premiums and going w/o an appraisal value to prevent over paying
Some people making those deals are going to be very unhappy in a couple of years or shorter
I know one story of couple who paid 30k over list to get house and they found big problem with water damage/mold that wasn’t noted by sellers—Involved an instant water heater installed incorrectly (and likely wo city permit/inspection)
Now buyers have over 30k in remediation their home insurance won’t cover (preexisting and especially if illegally installed) that might make getting home insurance very problematic
Haste makes waste even when every one is driven by FOMO
We sold our house in Hurst this month
Listed for 50k more than our agent first thought
3 offers first weekend for full price+
One guaranteed their offer (5k over) despite the appraisal
Two guaranteed up to the list although they offered 20k over list
And Three wouldn’t guarantee except appraisal
We didn’t think it would appraise for list based on neighborhood comps so we took #1
I hope they are happy
It had a great floor plan and other aspects but also some issues
They got the original roof w some repairs, two 15 yr old HVAC units a d one about 4 yrs old
A TX electric grid that will have rising prices and lower capacity
Thanks, sounds like the OP should wait to see if more houses come for sale to make prices go down
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