How Long Does it Take To Buy a House?
Many people embarking on their journey to buy a home have no idea how long the whole process takes from beginning to end. This should be the first question asked. The second, how much home can I afford.
According to Zillow it takes about 4 1/2 months from the beginning of the search to the closing. There are so many variables though.
The first step for any home buyer should be to get pre approved for a mortgage. You don't always need 20% down payment. There are many loan products available, for those who have served in the military it may be able to buy a home with no money down. Depending on your location, or where you want to purchase, it may be possible to qualify for some down payment assistance grants and no interest loan products for your down payment and closing costs - be sure to ask your Realtor and Loan Officer about that.
Some people think you should choose your Realtor first but, it is possible that it could be the second step. It may take longer for you to find the perfect Realtor just depending on whether you are looking for someone who specializes in a specific type of real estate. But, having a great team is important, your Realtor and Loan Officer work very close together in order to get the job done and get you into a home that is perfect for you.
The average home buyer looks at 10 homes over the course of 10 weeks before they make a decision.
Once you find your dream home and an offer is made, the seller may accept with out any changes but they may counter offer and your Realtor will negotiate the terms of the contract on your behalf.
From the time your contract is accepted to settlement may take about 45 days or possibly longer depending on what state you are buying home in. In Maryland it generally takes 30-45 days to close and get the keys to your new home.
What are you waiting for?
If you are thinking of buying or selling an home in Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into todays market. Remax New Beginnings and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad. Ask me how.
June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP
Remax New Beginnings