But how long does it actually take to buy a house from viewing those maybes to picking up the keys to the one. If you re the kind of person who likes the short answer it ll probably take two or three months from starting your search to signing all the paperwork on closing day.
There are a lot of steps to buying a house and any of them could drag out the timeline especially if you re not prepared.
How long does it take to buy a house. A lot depends on how much time you spend shopping for one. But of course the timeline can vary widely based on factors like the time of year your financing needs the type of home you re looking for and the inventory in your local market. But once you have a contract it takes an average of 50 days to close on a house.
While estimating a timeline for home buying will depend on many variables real estate experts estimate that the average time required is around four months. This is exciting stuff. The buying a house timeline can be tricky to predict.
For some the shopping period alone can last months and months. On average it takes 4 months to shop for a home plus an additional 30 45 days to close on a home once you are under contract. That said odds are you will know a home is the one surprisingly soon.
At this time the buyer usually is expected to apply for a mortgage. The purchase and sale agreement is then slated to be signed about 10 to 14 days after an accepted offer. One study found buyers spend an average of just 17 minutes inside a property before deciding to buy it.
This timeline is important for buyers. The process of buying a house can be time consuming to the tune of three months from beginning to end. On average a homebuyer can spend a few days to go through the initial pre approval process anywhere from a few.
For some folks the process can be extremely quick and take as little as 30 days total. So on average a homebuyer will spend 30 60 days shopping 14 60 days from contract to close and likely 14 45 days or so before your first mortgage payment is due. If you re wondering how long it takes to buy a house the answer is it depends.
But it can be quicker if you make a strong offer right away in a fast moving market or slower if you have a hard time finding just the right place or keep getting outbid. It typically takes anywhere from four weeks at the low end to six months or more to shop for and close on a house. Most buyers should build in 7 to 10 days after making an offer to inspect the property and negotiate any major items that appear on the inspection.
Here s the home buying timeline broken down step by step so you can be in control.