If you’ve never bought a home before, the entire process can feel like one big question mark. Even if you know the steps towards buying a home, many people aren’t aware of how long each of those steps takes.
A recent article from realtor.com outlined how long new buyers can expect certain steps of the homebuying process to take, including:
- Finding a real estate agent. Your real estate agent is the most important asset in your home search, so it’s important to take the time to vet your options and find the right agent for you. However, it shouldn’t take long; according to the article, you can find a qualified real estate anywhere between a few days to a few weeks.
- Getting approved for a mortgage. When you apply for a mortgage, your lender will need to take a deep dive into your finances before they approve you for a loan. Factor in at least two weeks (sometimes more) for this part of the process.
- Closing on a property. You submitted an offer. The offer was accepted. Now, how long until you officially close on the home? According to the article, closing on a home takes right around 50 days in the current market.