House Hunting Checklist

Decisions are agonizing! What house should you buy? How big of a mortgage payment can you endure? Does the home have the right bells and whistles? Is it in the area you desire? You need a House Hunting Checklist to make your options plain as day!

We found the PERFECT house for us! It’s a rambler with the space we need, curb appeal, all the bells and whistles, and an unforgettable view! Hazel and I are ready to call it home! There’s just one issue that Blake can’t seem to overcome.

House Hunting Checklist

Of course, there will be give and take to any house you look at but you want to make an educated decision based on the cold hard facts.

There are the obvious facts like the price, square footage, and number of bedrooms and bathrooms.

It’s time to dig deeper and do an analysis of the homes you are considering, side by side.

What is the difference in price per square foot?

How big is the lot?

Is it on sewer or septic?

Does it have wasted space?

Does the home have conveniences you are accustomed to such as air conditioning, custom closets, sprinkler system, storage space, etc.?

You may even want to dig so far that you know what percentage of your take-home pay your mortgage payment will be.

Guess what? We’ve created the House Hunting Checklist just for you!

Click the picture below to print and start analyzing!

House Hunting Checklist

 

Back to that perfect house. Blake can’t seem to overcome the fact that the house payment would be a whopping 44% of our take-home pay! Oy vey!

According to Dave Ramsey, your total mortgage payment, including tax and insurance, should not be more than 25% of your take-home pay. He also suggests a 15-year fixed-rate mortgage!

To figure what percentage of your take-home pay your mortgage costs will be, check out this handy dandy calculator! It will show you how to do the math AND do it for you! Win!

If you’re a mathematician and want to figure it out yourself the equation looks something like this:

100%/X%=take home pay/total mortgage payment

I would do total injustice in teaching you how to solve that equation but the link above does a swell job helping you out with that!

 

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  • Kirsten Jun 19, 2016, 4:37 am

    THAT is a pretty big thing to overcome. And kudos on the house hunting checklist.

    We have moved a lot. A lot. When we first moved to Tennessee, we both knew exactly what we were looking for in a house. We had both grown up close by the town we’d moved to, and so we kind of “knew” the market without knowing it. We picked out 5 houses that met all our criteria, looked at them, and put an offer in during the first day. Easy on the Realtor!

    But the other areas we have moved to have a very different market. In Houston, lot sizes were really small. The house might be OK, but the lot often broke the deal. When we moved North, the age of the homes just killed me. Most of them were also on really small lots. And in New England, we found that the age of homes was a continuing issue.

    But one thing we have never compromised in is what our dream home really is. We only ever had it in Tennessee. But every time we start looking, we use that as a place to start. We ask the Realtor to counsel us on what things we might have to give on (like – I want 2.5 baths, but 0.5 baths are rare in old homes). And what things might be available, but just not in our price range. A good realtor will definitely help you meter your expectations before you go house hunting. One that doesn’t is hoping that they can show you a home well outside your price range and still have you say yes! Run away!

    • Sunshine and Rainy Days Jun 21, 2016, 10:17 am

      Whew! You were super easy on the Realtor in Tennessee! We have a few Realtors we can go to if needed but, so far, have looked on our own! We have a very small area we are looking at and have kept ourselves very aware of what’s going on there!

      It’s so true that different areas have different markets, even within 30 miles of each other. We are hoping to buy in an area where homes are on tiny lots but are looking at it as a reprieve from the huge amount of yard work we do now!

      Now, to just find a home that is closer to 25% of our take-home pay!

  • kay ~ the barefoot minimalist Jun 19, 2016, 4:14 pm

    Oh my my my my my my my. Ouch. I love your checklist! But, my my my, um, I’m feeling Blake’s pain! :O But I’m happy for you! 😀 Yep, conflicting messages there, huh? 😛

    • Sunshine and Rainy Days Jun 21, 2016, 10:22 am

      Lol! Don’t worry, Kay! We haven’t been successful at convincing Blake to make that 44% of take-home pay house ours. Although, we just found out his new job is coming with a heftier raise than previously anticipated! That brings the number closer to 34% – perhaps we can work a better deal and make it happen;0) Maybe you should worry!

      • kay ~ the barefoot minimalist Jun 22, 2016, 11:46 am

        I think that’s a reasonable number. 25% would be nice, but may not be feasible for getting the perfect home for your family. Best wishes Jayleen! 🙂