How long does it take to buy a house? It’s a big question, especially for people who hope to time their home purchase with when their rental lease is up. Or before the start of school. Or when you’re closing on the sale of your old home. Or any number of other time-sensitive situations you’re trying to manage. While timing a home purchase is tricky and will vary based on a variety of factors, many experts estimate that you should expect the home-buying process to take a minimum of four months.
Talk about a long slog, eh? Yet there are good reasons why buying a home is no impulse purchase. To help illuminate what’s going on, here’s a rundown of the various stages you’ll encounter to help you time your house hunt just right.
Stage 1: Getting mortgage pre-approval
Your first step shouldn’t be toward all those exciting open houses; it should be to a lender, presuming you need a mortgage