How Long Does It Take to Buy a House?

How Long Does It Take to Buy a House?

Once you've set your mind on moving, it's hard to wait, even though the process of buying a house can take a while. There are several steps you need to follow and many things that could go wrong in the process of buying a house.

Here is what you need to know:

How Long Does it Take to Buy a House?

According to Investopedia, it takes about 40-50 days to close on a house, but that is after you are under contract. First, you need to find your house. That might involve shopping around for a while. If you know the area you want to live in, you'll have a faster time searching because there are fewer properties available, but you will still need to look into each one thoroughly.

This can be a fun part of the buying process, but it does take some time. According to Zillow, real estate agents submit an average of 4 offers per buyer, with 13% submitting more offers than that. The faster you follow up on houses you are interested in, the sooner you can make an offer.

After this, there are financial preparations - unless you have the cash to purchase the house outright, you will need to be pre-approved for a loan and go through an underwriting process with the lender. Although it is possible to buy a house in just a couple of months (or less), for many people the process can take 6 months or longer. Even if you are in a rush, it is more important to find the right house than it is to move right away. 

The process of buying a home can be overwhelming, but real estate companies like Keller Williams Asheville can make it easier, and get you moved into your home faster.