How long does it take to buy a home is a question I hear a lot. Because this is so important for you, let’s take a good look at what’s involved.
Everyone Is Not the Same
You want to buy a home and you’re not sure how long this will take. Friends tell you they’ve looked forever. Others found their home in a matter of weeks. Going online doesn’t really help because the answers you find are vague.
The truth is that there is no perfect answer. It depends on so many variables. Home buyers come to me with different stages of readiness and preparedness. As a result, it’s impossible to give you all the same answer. I can, however, outline things so you can figure out how long you’ll need.
A Lot Depends On You
It is true that a lot depends on you. How fast you get documents to your banker is important. Additionally the banker and bank you choose matters a lot.
So is the time you commit to finding a home. Do you go out to see homes every week or once per month? Your agent calls to tell you a great house just came on the market. Do you react quickly or not?
Preparing to Buy A House
The most efficient start is the buyer consultation. We get together at my office and in 1 hour or so you save yourself tons of time and avoid making mistakes.
I teach you the home buying process, what a true pre approval is and why you need it plus we identify your needs and wants. We go over attorneys and home inspectors too. Great agents take the time to do this for you.
It’s now time to get correctly pre-approved. Budget 1 week for this because on top of your already full life, you have to gather financial documents.
The Next Steps
Most home buyers take 2-3 months or so of looking to find a home. You might have to make several offers before you capture a house. Let’s figure 2.5 months to get a contract on a house.
The contract goes to the attorneys who review and adjust it to a final binding contract. This takes 1 week typically.
Next comes the home inspections. You have 10 days to get this done but plan on 2 weeks because the radon test might need 2 or 3 days extra for results. Inspection issue negotiations can also take a few days.
It’s 1 month from when you first got your contract. Next comes finishing off the mortgage and preparing for the closing. Now it’s pretty much in the hands of your attorney, the title company and your banker. During this time you will be asked for even more from your banker. Additionally you’ll settle on your homeowner insurance and set up moving in.
How Long Does It Take To Buy A Home
So how long does it take to buy a home is answered by adding it all up. It’s 2 months for the actual process and 2-3 months to find your home. Can you do it quicker? Yes but the less time you have, the more pressure you’re under.
Questions? Call or text me at 201-741-8490.