Home buying with a newborn/infant

Re: Home buying with a newborn/infant

• Parker16772 member

  November 2015

  No advice on the moving with a newborn but I wanted to say it probably depends on the market (how fast homes are selling, are there bidding wars?) where you are and what type of loan you are getting on when you need to start looking. I would talk to a lender several months ahead to get pre approved. Government loans like FHA or USDA also take a lot longer to close on. We did an FHA for our first house and it took 7 weeks to close.

  
  

  
  

  

  
  

  

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• cocobeanie22 member

  November 2015

  We started looking last march or so, properties often are added spring to summer and we put our offer in early June and closed mid July so it can be done quickly(ish)

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• emjeve member

  November 2015

  We moved from Iowa to Michigan when DD was 5 months old. We drove to MI twice (9 hours one way) to look at houses when DD was 2.5 and 3 months old. So we started looking about 2 months before our moving date. It honestly wasn't bad (minus the long drive twice in one month). She was young enough that she was still sleeping a lot during the day so it was easy to get everything packed (I did all the packing myself since DH was taking his medical school finals and our families both live in Wisconsin and weren't around to help!!) and she slept most of the drive so that wasn't bad either. Good luck!

  
  

  

  

  
  

  
  

  
  

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• ecwk member

  November 2015

  In the same boat and just got pre approved today for mortgage. DH works in finance so he knows what he's doing, I don't really have a clue. It was very quick to get approved, don't know if that's always the case. The approval lasts for 90 days. He also said if your deposit is under 20% you have to pay PMI (private mortgage insurance) until you've paid the 20%
  It's a scary big step for me and makes my move the the States a lot more permanent but I guess with baby on the way I have to think that way.

  
  

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• yodapup member

  November 2015

  We bought a house and moved when DD was 2 months old. It was way easier than I thought it would be. They sleep so much and aren't moving around so they're easy to contain. Having a pack n play and a baby carrier will be your best friends during the move.

  
  
        
  
  
  
  
  
  

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• jenniferamcooper member

  November 2015

  Just thought I'd throw in the idea (which I'm sure you thought about) that you'll have less money if you're back at work and paying for childcare and hidden moving costs are ridiculous so save like crazy!

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• skruhmin member

  November 2015

  We sold a house last May when DS2 was 10 months (9 months old when we were getting the house ready) - extremely difficult and our boys were thankfully over at their grandparents' a LOT (more than I liked, but that was the only way we could swing it). Then we decided to build a house and we lived with my in-laws for 6 months - a blessing but super hard.  But the way the market was, it was impossible to find a house.  We just moved in 1 1/2 weeks ago and DS1 is 4 and DS2 is 16 months and it is extremely difficult to unpack everything with DS2 so mobile and into everything.  I would definitely recommend doing a move before baby is mobile.  I would also recommend hiring movers if you can swing the cost.  thumbtack.com was amazing for finding an affordable mover.  Save save save is my big advice.  Moving is expensive, so is buying a home.  The nice thing about a mortgage though is you always skip the first full month after you sign your mortgage - which is nice for unexpected expenses (which there will be some).  If you can do the 20% down, do it - very hard for first time buyers without home equity to do though.  You can do an FHA loan with 3% down, but you will have the PMI - FHA is made for first time home owners.
  

  DS1 - 9/21/11

  DS2 - 7/4/14

  DS3 - 2/21/16
  ~~~~~~~~~~~~~~~~~~~~~
  Our family of 5 is complete!!  Love our boys!
  

  
  

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• FutureMrsCaesar member

  November 2015

  I agree with others, moving with one 5 month old shouldn't be too bad. Still at least 2 naps for you to get some unpacking done and not mobile. Also probably still just on breastmilk or formula so no need to worry about prepping foods and 'what's for dinner/where are the dishes/pots and pans' etc.
  As far as your other questions I recommend using a reputable realtor. DH and I have moved 5 times and something always comes up, you want someone in your corner who knows the ins and outs of the industry. Good luck!

  
  

   
   
  

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• lindscnn1 member

  November 2015

  We will be moving when the new baby is about 1 month old. We recently moved to Birmingham Alabama and I hate it here so once this lease is up we'll be moving somewhere in TN. I am more concerned about the packing of the house, we already have 4 kids, 4 dogs and 2 cats. We have owned our own house before and I highly recommend buying IF you are sure where you want to live for a minimum of 10 years and you make sure you have enough bedrooms for any more kids that may come. My husband wants to buy a house when we move but I refuse to until we know without a doubt that we love whichever town we move to. If you are going to buy then I would get your pre-approval about 5-6 months in advance, but you both need to thoroughly go through your credit report asap. If there is anything on there that shouldn't be or that needs handled, now is the time to get that done. If you decide to rent then I would start about 3 months in advance. If you paid 1st and last month's rent when you rented your current place you could move anytime during that month without the hassle of paying for 2 homes during the same month.

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• alligreer88 member

  November 2015

  I agree to check in to your credit situation early- but the banks around here date their pre-approval letters and six months down the road it would surely have expired(who know what your credit would be 6 months later, and banks don't want the risk) and applying and running your score early, and again later, isn't ideal for your score. Just something to keep in mind. If you have a relationship with a bank, they will verbally talk to you about an appropriate price range.

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• Mcbb224 member

  November 2015

  Thank you all for the helpful advice! My husband and I have decided to rent again possibly for another year or two! We have been monitoring our credit and have almost finished paying off all of our credit cards so we have no debt other than our student loans! We want to have no debt at all so we think two years is doable to pay off the rest of our loans. You all gave great advice and I am looking forward to a sleeping baby during the move the packing part will sure give me a headache but we have lots of family to help.

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• Doxies4life member

  November 2015

  Real Estate agent here!   On average it takes about 6 months to find a home when purchasing (on a personal note, my husband and I took 14 months)   Market trends really do a lot to determine this time period so it wouldn't hurt to contact an agent in your area about a year a head of time and establish a relationship  and ask about market trends.  Touch base with them periodically to see if your local market is neutral, buyers or sellers ( Please don't look at mass media for these answers, just because my market is a sellers market right now doesn't mean that the next state over is as well)  

  
  

  Just one piece of advise for when you guys do find your home.  DON'T BUY ANYTHING!!!!   Even with amazing credit, some people get the itch once they have an offer accepted and want to buy new appliances, furniture etc.  The lender will run your credit  the morning of closing as well as check on your employment status.  I've seen way too many deals fall through because people went out 2 or 3 days before closing and made a large (or several large) purchases or even had credit inquiries from a furniture store auto loan, personal loan etc.  Which can adjust your credit rating and completely mess up your loan. 

  
  

  Not trying to scare you and good luck!  

  
  

  
  

  

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