How Long Does It Really Take to Buy a House?

Are you ready to buy a house? Then it's time to start planning. The more that you plan ahead, the easier that the process will be in the long run. Part of that planning includes knowing exactly how long each step will take, so you know what to expect with each milestone in the purchasing process. Let's take a closer look at what it takes — and how long it takes — to buy a house.

1. Decide Whether Now Is the Time to Buy
   Before you get serious about buying a house, it's smart to make sure that now is the right time. Having savings set aside will make it easier to put together a strong offer, and a good credit score is key to getting a mortgage.
   
   
2. Find a Great Real Estate Agent (One Week)
   The right real estate agent will make life so much easier as you navigate the purchasing process, so it's worth taking the time to interview a few agents and find the right match. If you have some referrals from trusted sources, then you're already ahead of the game. This step can take anywhere from a few days to a week.
   
   
3. Find a Lender and Get Pre-Approved (One Week)
   Getting pre-approved for a mortgage doesn't mean you have final approval, but it does give you a strong idea of exactly how much you'll have available to spend on your home. Remember that you don't have to take the first mortgage offer. Shop around to find a lender that suits your unique needs.
   
   
4. Shop for Homes and Find a Match (Varies by Individual)
   Shopping for a home is the least predictable part of the process from a time perspective. Maybe you'll fall in love with a home that fits your budget right away, but it can also take anywhere from weeks to months to find the right match. A good real estate agent and a strong idea of what you want from your home can help speed up this step.
   
   
5. Negotiate with the Seller (One Week)
   Depending on the seller and how much competition there is for the home, the negotiating process doesn't have to take very long. Just start out with a viable offer and respond promptly whenever you receive a counter from the seller.
   
   
6. Get Final Approval for Your Mortgage (One to Three Weeks)
   While pre-approval is important, it doesn't mean you will automatically qualify when it's time to secure your loan. The lender will still want to take a closer look at the house you're buying and make sure that your finances are in order before giving final approval.
   
   
7. Home Appraisal and Home Inspection (One to Two Weeks)
   The home appraisal and home inspection are the final key steps to securing your mortgage. You can expect a few days to schedule each appointment and a few more days waiting for a report after each appointment is complete.
   
   
8. Close the Deal on Your New Home (Five to Eight Weeks)
   On average, it takes about 50 days to close on a home after you're done negotiating with the seller. This includes time for the appraisal, inspection, and more. If you or the seller are on a rushed timeline, you may be able to expedite the closing process.

When you're buying a house, it's always wise to include a little extra time to account for the unexpected. With a plan in place and the right real estate agent, you can navigate the process with confidence.

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