House hunting is a very fun activity. Especially when it's your first home! But even if it's not, there is still lots of excitement that comes with finding the right house for your needs and your budget.
For most people, searching for a house begins and ends with their realtor. And while this is certainly a good strategy, there other places to look for house listings.
Most people who sell a house do it through a realtor. So the house gets listed on the MLS (Multiple Listing Service) that realtors use to help you find your home. But not everyone sells their house through a realtor. There are actually a few ways to look for hidden "gems" that just might end up being your dream home.
So, where else should you look for houses for sale? Here are a few ideas other than the standard home listings from your realtor:
- Drive around the neighborhoods where you want to live.
This is a great idea even if you don't find any houses for sale. Knowing the surrounding neighborhood is a great benefit for you. You'll learn about things you like & things you don't like. And you'll get to see your future neighbors. There may be hidden "hot spots" you want to avoid. Or there may be hidden treasures just around the corner. The more you know about your future neighborhood, the better. And you may end up finding a house for sale that is not listed in the MLS!
- For sale by owner websites
There are a whole bunch of them that listed houses for sale directly by their owners (those not being sold by a real estate agent). Sometimes these homes offer more room to negotiate since the sellers save money by not paying commission to a realtor. Some of the more popular ones are www.isoldmyhouse.com, www.FSBO.com, www.forsalebyowner.com, and www.owners.com. Or go to Google and do a search for home for sale by owner" or something similar. You may just find some good deals!
- Local newspapers
The same is true for local newspapers. Some people who try to sell their homes on their own will place an ad in the real estate section of the local newspaper. If you don't already live in the area, this is also a great way to learn more about the city or town you are hoping to move into.
- Foreclosure listings
You may have to pay to get access to foreclosure listings, so this is not the first option to consider. Also, sometimes the competition is a little more, since you might be able to find a house for a lot less. But you also will be competing with house "flippers" or those who look to buy old houses, fix them up, then sell them for a profit. And often times these are the houses that have been neglected and need a lot of work. So while you might find some good deals, make sure you are ready to do some work!
Sure, these house hunting strategies will take a little extra work. But in the end, it may be worth it. Even if you don't find your dream home this way, it will give you a better idea of what's out there.
Sometimes knowing what you DON'T want is just as helpful in narrowing down the home search process!
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