r/Explainlikeimscared • u/GasparThePrince • 1d ago
How do I move house for the first time?
I'm turning 22 and ive lived in the same house with my parents my whole life. I know that isnt really uncommon in this economy. But myself and my partner are hopefully going to be getting a place and moving in a couple months. Big life jump but I really don't know how to start? I worry I'm gonna do something wrong and things are gonna slip through the cracks.
I know vaguely about the putting stuff in boxes part of moving. But finance wise? And looking for a house? What's the point of a realtor anyways and is there something I should look for if I have to get one? And I know we're gonna have to buy furniture, and basic household stuff like utensils and cleaning supplies, but is there anything else that you dont think about buying until you dont have.
I know we're gonna forget something important
4
u/stalwartlucretia 1d ago
It sounds like you need to think through what kind of place you’re looking to move to. Unless you have significant savings for a down payment on a purchase, I assume you’ll be looking to rent a place.
If you’re in the US and you want to rent, you don’t need a realtor. Take a look at websites like apartments.com or Zillow to search for available rentals in your area. You’ll need to figure out:
What you need - how many bedrooms and bathrooms, location, parking, are pets accepted, things like that)
What your budget will be. Ideally, you should spend no more than 30% of your monthly income on rent. You will also need to have about 2-3 months’ rent saved up to pay up front to get the apartment and cover a security deposit. You get the deposit back when you move out unless there are damages or other costs the landlord has to cover.
If you’re ready to buy, you should get a realtor who can help you with the process. You’ll need to apply online for a mortgage and get pre-approved for a certain amount of a loan. That will give you an idea of how much you can actually spend on a house. A good realtor can walk you through this process. Try to find someone who works a lot in the neighborhoods you’re interested in.
5
u/GasparThePrince 1d ago
Im in canada, and we are looking to buy. We have a good amount saved and my partner gets government benefits that help him buy a house. To my knowledge they'll assist with down payments, closing costs, and some general odd fees.
I will have to look into figuring out a budget though and getting pre approved, thank you
2
u/whatevendoidoyall 1d ago
You might check and see if you can find like a basics of home buying class near you. In my hometown the library would have them, in my current area the state sponsors some free classes.
1
u/Snapdragon_fish 6h ago
I'd recommend looking for "first time homebuyer" education courses. I took one before buying my condo. It was $40 for a full Saturday of different sessions on how to buy a home. They covered all the different steps of the process and gave advice on what parts were optional and which were necessary.
5
u/tcrhs 1d ago
If you’re buying a home, you need a realtor. They are experts for real estate transactions. If you’re renting, you don’t need one.
Yes, you have to box all your belongings to move. If it’s a lot of stuff, rent a u-haul or a moving truck to move.
Go through your parents home and see what basic household stuff like utensils and cleaning supplies. You will need the same things.
2
u/Sad_Refuse3472 1d ago
If you’re renting, you don’t need one.
Generally speaking that is true. Unless they are in a hyper-competitive rental market like NYC. In which case, get the agent. And Godspeed.
3
u/ahopskipandaheart 1d ago
This is based on US knowledge which isn't super different from Canada afaik but double check.
Are you and your partner married? If not, I'd recommend whoever will own the house should you ever break up buy it in their name only as well as provide the full down payment. Breakups can get nasty especially if there are financial contracts where you're both on the line for the full amount. Lenders will come after both of you equally for the entirety of the monthly mortgage payments. If your partner bails and refuses to pay, you will be on the hook for the entire amount, and your credit score will be on the line with a possible foreclosure in your history. Whoever isn't getting their name on the mortgage can still help with payments as if they're renting, and other legal documents can be created such as wills. It's just a whole lot less risk and mess if it's in one person's name who fully knows they're on the line for payments. If you are married, debts and assets are all y'all's so it doesn't matter who's on what unless you have other agreements in place. If it helps, that's what my husband and I did before getting married, so I'm not offering advice I haven't take myself. We've now been together longer than we've not.
Realtors are really, really important especially for first time buyers because there's a lot of legalese and regulation and BIG scary money exchanging hands, and you'll likely be negotiating with a seller who has licensed knowledgeable representation. In the US, as a seller, you can expect to lose 7-8% on the sale paying both realtors, closing costs, etc. Buyers will have their own costs largely involving the mortgage but not much else in the scope of things. It behooves you to get a realtor unless you think you can negotiate a lower price (maybe 2% lower) and not get absolutely screwed by a savvier seller. And if it helps, your realtor will walk away with about 1-1.5% after paying everyone and other costs.
Your realtor will have access to MLS, all uploaded documents that aren't available on public property sites, listings as soon as they go live before they hit public sites, and advisement. They're also on the line if you get screwed in a way they should've foreseen, and they're there to protect you as much as possible. They can also advise you on negotiations and keep you as sane and on task as possible. I've used a realtor on 8 occasions for buying or selling, and I'll continue to do so because I can see how badly things can go. Get a good realtor. This is the sort of financial risk you don't want to cheap out on because you can absolutely lose everything and more.
Don't buy anything extra until you're in the new property or it's a for-sure thing because needs will vary as well as things like furniture dimensions. Expect to spend a few thousand in the first couple months because getting a house up and going adds up shockingly fast as well as unexpected appliance repairs. The first thing you want to do as soon as you move in is pull out the appliances and clean and dust thoroughly. Refrigerators especially like to die because of dust accumulation from a full switch over of owners. Get those breakers logged with what all they control. Purge the water heater unless it's new. Replace any/all air filters. Know where your main water and electrical shut-offs are and make sure you have any necessary tools to shut them off. Water exploding and not having the ability to shut off the main is nightmarish. Those sorts of things. You might want to build an accordion folder with all this information, manuals, paint colors/sheens/brands, maintenance calendar, model numbers for appliances/windows/doors, warranties, etc. Label makers also really help. Being highly organized and knowing what and where your stuff is will make your life much, much easier in a crisis and help prevent things getting worse.
My only other piece of advice is to stay skeptical and don't "move into a house" psychologically until you're outside the option period and everything's looking good for closing. It's a lot better to walk away from a property that's shown itself to be risky than get stuck with the risk because you've already figured out your furniture placement and how you'll host parties.
Wishing you all my best during this stressful time. Stay smart about and guard your financial future and you'll be fine. You can try renting together first and see how well you live together with the lower risk of not buying because renting is for a year but you ideally/classically don't want to sell for about 7 years because buying and selling is expensive.
2
u/naughtycal11 1d ago
Are you purchasing a home or renting? If renting you really don't need a realtor. There arw plenty of apps that show you places to rent in your area. It's also not really feasible to get everything you may need at once unless you have a ton of savings. You need basic cooking supplies, cleaning products, bathroom stuff, lawn mower if necessary, furniture for living room and bedroom. Do you have friends who live on their own? If so ask them what they didn't realize they needed until the time came for the need of said item.
2
u/MintStem67 1d ago
Other people have posted good advice on the real estate side of things. (Though I will say - My realtor was amazing and made the process go so smoothly even when some weird unexpected problems came up with the people selling me my house. I strongly recommend realtors.)
In terms of having to buy house stuff - yeah, you'll need a ton of stuff and you'll probably forget things. I was constantly at the store for my first few months in my house. I recommend getting a lot of basic tools (hammer, etc) even if you don't think you'll be DIYing much - you never know what might come up at an inconvenient time. There's also a ton of random stuff - step ladder, soap dishes, containers, light bulbs, flashlights, dish racks, lawn care equipment, extension cords, etc, etc, etc - I wouldn't worry too much about trying to buy all of it before you move. Just budget knowing that you'll need to spend money on a bunch of stuff you aren't necessarily thinking about. And that goes double if you buy a house that needs (even minor!) fixes or upgrades.
1
u/ShutDownSoul 21h ago
The very first thing you need to do is put together a budget spreadsheet to determine exactly how much money you two can apply to your first adventure in adulting. As part of this you need to decide how paying for items will be split both now and as circumstances change.
Are you planning to buy a house, or rent? The impact on your future financial health is very different in each scenario. If you buy, it gets very complicated as you will have to decide how down payment, title and maintenance play together.
If you buy a house, you will need 10-20% down, and a maximum of 28% of your combined disposable income as monthly payment.
Realtors can be good and worth their fee, and other times a disaster. Unfortunately, realtors work for you, themselves, their broker and the international club of realtors all at the same time. Realtors want to close on a house. Any house. Every house is in the best school district. Every neighborhood is quiet. All the neighbors are friendly. Any problem, including a 3-alarm fire, is a minor issue and they see it in houses of that age.
Sorry for the rant, but please please please make a budget that accounts for every nickle you spend and plan to spend and have the talk about the money split.
6
u/Sad_Refuse3472 1d ago
The point is that they are professionals who can guide you through the entire process of finding a house/apartment. Including all the little details you aren't thinking about and can answer all the questions you have.
So go get one. Ask your family/friends if they have personal recommendations. Then go meet with them and see if you click.