Written by Courtney Dorion   |   Posted on   |   1,355 views

Ok but really… how long does it take to buy a home?

Most of our clients tend to be looking at about 3-4 months of time devoted to looking for their home… and then another 1-2 months before the property actually closes and they move in.

But there are many steps involved, and if you’re not prepared, these times could take much longer.

1. Get Pre-Approved for a Mortgage:  1 WEEK

The best way to get the process going is to become pre-approved for a mortgage.  This will ensure you’re up-to-date with how large of a budget you’ll have when you’re looking for homes. 

Related:  How to Get Pre-Approved For a Mortgage 

It also means you’ll be taken seriously by sellers, because they can see you’ve got the financing ready to go when you make your offer.

3. Partner with a REALTOR®: 1 WEEK

Now that you’ve done your research, it’s time to team up with a REALTOR®.  You may ask friends and family for their recommendations.  You may want to search reviews online, or perhaps it’s someone you’ve seen on your social media channels for quite a while.

We encourage buyers to interview a handful of real estate agents and find someone that you feel comfortable with!  This is a big transaction and you need to be confident with who you choose.  Take this week to find one that you feel comfortable signing a Buyers Representation Agreement with.

REMEMBER:  As a buyer, it doesn’t generally cost you ANYTHING to use a real estate agent when purchasing a home.  So take advantage of their expertise!

Related: What to Look For When Choosing a Local REALTOR®

4. Start The House Hunting!  1 WEEK to A FEW MONTHS

This is the fun part!  Start working with your agent to book a variety of showings at homes that meet your criteria.  

We also encourage you to look at homes that you may not think will work – you never know!  Once you step inside the actual house, you may discover that it actually is what you’re looking for.

Don’t be discouraged if you don’t find the perfect home right away. The average home buyer will visit ten homes over ten weeks before placing an offer – but this is only an average.

Related: How Do You Know You’ve Found “The One”

 

7. Closing On The Home: 30-50 DAYS ON AVERAGE

Now that the conditions have been fulfilled and you’ve got that SOLD sign on the front lawn, it’s time to start packing for your Closing Day!  This is the day that the buyers and sellers have negotiated that will be when the money is transferred for the purchase and the keys are handed over!

Generally speaking, this is around 30-50 days, but it can be much quicker, or much longer.  It really depends on what you’ve settled on with the sellers. 

Use this time to sort, pack and purge anything you don’t need at your new place!  

Related: Getting Properly Prepared For Closing Day

*All information provided by the Brantford Regional Real Estate Association (BRREA) and ITSO for the highest number of completed transactions since January 1, 2015. All Brantford MLS® House Listings come from the various systems operated by Real Estate Boards and Associations across Canada. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used underlicense. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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