Did you know that it’s challenging to buy a house at the moment? There’s a shortage of houses for sale. If you are getting ready to buy a home, we can help.

In this guide, we’ll go over the home buying process. We’ll answer your question, “how long does it take to buy a house?”

Want to learn more? Keep reading.

Take Time Searching for the Right House

Depending on the market, it may take you a while to find a house that suits your needs and criteria. For some people, it will take over a year to find the right home.

Buyers looking at a specific location may need to wait a little longer until they find the perfect fit.

Research the area beforehand. Understand the housing market, and learn about your options.

You’ll Need to Negotiate

Many buyers and sellers will need to come to a final agreement that will suit all parties. Some buyers will have to enter a few rounds of negotiations and counter-offers.

You might need to discuss an expensive repair. Appraisals will also take time. Prepare for all these steps.

Your Offer Needs to Get Accepted

Since the housing market’s competitive, buyers will end up competing with other buyers.

Some people end up having to put in different offers to a bunch of houses. If you’re using financing, you might compete with cash buyers.

A lot of buyers find it difficult for their offer to get accepted right away. If the housing market’s hot, expect it to be competitive. You might need to offer on a few homes before your offer finally gets accepted.

Pre-Approval and Financing

If you have a cash offer, you will be able to speed up the home buying process. Yet if you’re financing, it might take a little longer to get pre-approved.

You’ll also need more time to get the appraisal and loan underwriting finished.

A lot of buyers say it’s hard to gather all their documents together for the loan. Other buyers also experience some delays with the underwriting process and their lenders.

Buying with cash will quicken the process. If you need to finance the home, you can speed up the process in a few ways.

Complete your paperwork as fast as possible. Schedule your inspection right away. Make sure your agent is talking with the listing agent often.

Now You Have the Answer to “How Long Does It Take to Buy a House?”

We hope these tips on buying a house were helpful. Now that you have the answer to “how long does it take to buy a house,” start searching. Research the houses, and prepare your finances and paperwork.

Are you looking for more tips? Check out our resources for home buyers on our blog.