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If you're rental hunting, you might look at 10 rentals, because you probably have a fixed amount of time (the end of your current lease). If you're hunting to
by cpwright 13y ago
If you're rental hunting, you might look at 10 rentals, because you probably have a fixed amount of time (the end of your current lease). If you're hunting to buy, you can take pretty much all the time in the world until you find the right thing. And it makes a lot more sense to take more time. The two bedroom apartment I had before buying a house was $2000/month, if you assume a 1 year lease, that is a $24,000 commitment. A house in the same area would be at least $500,000, you're also on the hook for taxes every year after that (which can easily be $12,000 or more on that $500,000 house).
Given the much larger commitment in terms of money and the duration, it makes sense to take longer.
The biggest mistake I think that we made while house hunting is not leaving crappy houses fast enough. Why spend 15-20 minutes looking at the rest of the house, when 2-3 is enough to tell it isn't going to be something we'll buy. We weren't interested in a fixer-upper, and from the pictures posted you can't always tell. Any Oculus Rift tour is going to have the same problems as selective picture taking.