If your New Year's Resolution is to buy your first home, you're likely full of questions, including one of the most common: "How long does the process take?"
Though we live in an instant gratification world, buying a home is not an impulse buy and is likely the largest purchase you'll ever make. As such, there are quite a few checks and balances along the way to protect you and your lender.
Ultimately, there is no "one size fits all" answer to how long the process will take. It depends on many factors, including your local area market inventory, how fast you want to move, how prepared you are, and how well you understand the necessary steps of the homebuying timeline.
If you can answer yes to the following questions, it's likely you've done your homework and are on the right track to start your home search:
Once these steps are in your rearview mirror, you're ready to start the fun part — shopping for your new home. The time it takes to find your perfect home varies, however the typical homebuyer searches for about 10 weeks and looks at 10 homes before buying.
Once you've found your dream home, you'll need to:
As you can see, there are many variables in the homebuying timeline, and how long it takes doesn't come with a simple — or single — answer. However, the more educated you are on the homebuying process and required steps, the more likely you'll be able to streamline the process and your homebuying timeline.
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