Question: Realistically, how long can it take to buy a house?

DH and I were talking tonight and we know where we want to live and decided when we'd live to live in that area. I'd be okay with moving and continue renting until we can really buy a house, while DH says he wants to just buy.

How long does/can it take to buy a house? How much time should we "budget" when we get to looking?

We'd like to be living in the school district in time to register DS for Kindergarten. DS starts Sept 2012, and registration is usually Jan of that year.

TIA!

Re: Question: Realistically, how long can it take to buy a house?

there is no one answer to that question

you could find a house on day 1 of looking

you could not find a house for 2 years

Re: Question: Realistically, how long can it take to buy a house?

i agree with Beth. It took us a year and a half!! It just depends on a number of factors.

Re: Question: Realistically, how long can it take to buy a house?

Depends on your criteria list and how pickyt you are, plus what the market is doing.

In the areas we have been looking, we are looking almost 3 years now.

This year, that's it. We have to find something or we will have to choose another area to move to. We have had it with waiting.

Re: Question: Realistically, how long can it take to buy a house?

Is there alot of inventory in the town you're looking at? If so, you may be able to find something more quickly. It is a buyer's market after all so that may also work in your favor.

Of course, it all comes down to what to previous poster said. If you're not too picky and there are alot of homes in your budget to choose from, all the better.

I found my new home after seeing 15 homes in two weeks. It's totally doable to find something you like relatively quickly.

Re: Question: Realistically, how long can it take to buy a house?

I know the questions I ask are not easily answerable, thanks for the responses

We've talked about this not being our "forever" house b/c of the want/need to move by a certain time. So being less picky is something we're agreeing to- but at the same time I don't want a POS that we won't be able to turn around & sell when we are ready for our "forever" house.

Fears I have:
Buyer not accepting offers.

Other things that I've read about on here & things I've seen friends/family go thru that stall or slow the closing process.

I know there are things we have zero control over (which is frustrating) but I know we're honestly not ready to buy and would be in a better position in a year, but afraid 6 mos wouldn't be wenough time. KWIM?

A big part of me wants to plan to move, but rent for a little longer. But DH is set on buying.

anyone have some extra money laying around we can borrow as a down payment!

Re: Question: Realistically, how long can it take to buy a house?

We found our house after less than 2 months of aggressive looking(though we have had our eye on the area for 2 years). We are in contract, we'll see how long closing takes.....

I wouldn't make the leap if you are not completely comfortable yet. For us an extra 6 months savings made all the difference on deciding what house we really wanted and could afford. Maybe try looking at houses casually for now so you have more of an idea of what you want when you are more ready.

You don't have to settle either, there are some great values on starter homes if you look hard enough. Good Luck!

Re: Question: Realistically, how long can it take to buy a house?

It took us about 6 weeks to find our house. Then once we were in contract it took another 3 months before we closed. Like some of the other PP's have said, definitely depends on how picky you are and what's available at the time you're looking. Plus the mortgage process can be lengthy.

Re: Question: Realistically, how long can it take to buy a house?

could take anywhere from several months to a year or longer...

Re: Question: Realistically, how long can it take to buy a house?

It took us 8 months to find the house, then about a month and a half to close.

Re: Question: Realistically, how long can it take to buy a house?

It took us 6 months to find the house and then 7 months to close

Re: Question: Realistically, how long can it take to buy a house?

we found a house and waited 2 months to hear back. then we started the process over with another real estate agent and the process was 2 weeks in and we got a very bad home inspection report. we neg. for about a week and they wouldn't budge so we walked away. found a house with a real estate agent, and 1 week later we had an accepted offer after looking at the house 2 times. it took 6 months to close. All issues related to Co's. the quickest though would probably be 3 months. you figure you find a house at the quickest within the first 2 weeks, then you get a home inspection and go to contract all within first month. then, the mortgage company will take about 60 days. but that would be the quickest.

it also really depends on what type of house you need and the supply and demand in the area you are looking.

we started last june and we closed march 19. our mortgage process was the quickest and the contract part was the hardest. but its really hard to tell how long it will take.

my suggestion is start looking now. it can't hurt. and make it known your not in a rush.
good luck!

Re: Question: Realistically, how long can it take to buy a house?

We started looking in January 08. We found the one in February 08 and had the inspection done and signed the contract in March 08. We didn't close until June 08.

Re: Question: Realistically, how long can it take to buy a house?

We found our home within 1 week of serious searching... but there are people on here that are still looking afetr 1+ yrs... depends on how picky you are

ETA: And from that day, we closed about 3 months later (but we got held up with diff issues)

Message edited 6/22/2010 7:48:40 AM.

Re: Question: Realistically, how long can it take to buy a house?

For us, we started looking in September. We found 2 houses we liked shortly after but backed out of both after the inspections.

I think we found our current house in late dec/early Jan. Our offer was accepted in early January and we closed at the end of April. The homeowners needed a few extra days in the house and we moved in on May 2.

Re: Question: Realistically, how long can it take to buy a house?

it took us almost 2 1/2 years to find a house....looking pretty much every weekend!
Took us about 1 month to close.....from day of final offer.