How Long Does It Take to Find a Home?

Buying a house is a massive milestone in your life and probably one of, if not the most important, purchasing decisions you’re ever going to make. However, it’s not just as easy as choosing a home and buying it. There are a lot of emotional, legal, and budgetary decisions that need to be made first.

One huge factor that you will face as a homebuyer and you’ll often wonder about is the duration of the search process. How long does it take to find the perfect home? That’s why, in this blog post, we are going to be looking at the intricacies of home searches and the many different aspects that influence the timelines for you, so you can get a better understanding.

The Different Time Considerations in Buying a Home

As you know, if you’ve ever bought a home, it can be a lengthy process, but if it’s your first time, here are the time considerations you’re going to have to take into account:

1) The Pre-Search Phase

Before looking into the many available homes on the market, you as the buyer will always engage in a pre-search phase, and what we mean by this is a period that involves you defining your budget constraints, financial readiness, and preferences/priorities.

It’s so important to secure mortgage pre-approval during this time, as it makes sure the subsequent steps for you as position buyers are as serious as the contenders already in the real estate market.

During the pre-search phase, you may also begin researching neighbourhoods, school districts, and local ‘things to do’, because if you can decide on must-haves and deal-breakers, it helps narrow down the size of the search for you, saving so much valuable time in the long run.

2) Searching For Homes in Your Chosen Areas

At the heart of any home-buying process for any person lies the active search for the perfect property. This phase can change so much depending on:

• Your individual preferences
• The market conditions and competitiveness of it
• The actual availability of suitable homes
• The flexibility of where you’re deciding on living
• Whether demand exceeds supply in your chosen areas
• The location and property features you want

Luckily though, technology has massively improved the search process, with online platforms providing a lot of listings, virtual tours, and detailed information. However, even though the digital tools are convenient, if your requirements are one that doesn’t agree with the current state of the market, it’s going to be tougher—and vice versa.

Even though there are some potential issues you may face during your search, the team at Liam Gretton can be by your side throughout the entire process. No matter if you are considering buying in Greasby or Birkenhead, you can rest assured that we will be able to support you through the trials and tribulations of home buying.

3) Making Offers And Negotiations

Once a suitable property is identified, the next part of this process is actually making an offer and having negotiations with the seller. How long this takes can change based on factors such as:

• How responsive the seller of the property is
• The complexity of negotiations between you (or your estate agent) and the seller
• The competing offers received by others wanting the same home

The offer and negotiation process often includes some back-and-forths on price, contingencies, and other terms outlined in the purchase agreement. In some cases, negotiations may be easy and straightforward, while for others, they can extend over several weeks, especially if both parties are not in immediate agreement.

When selling your current home, this is one of the most important aspects that you must take into consideration, as negotiations can be some of the most time-consuming aspects of your sale as well as when you are purchasing.

4) You’ll Need to Have Inspections And Due Diligence

Upon reaching an agreement, you as the buyer of your new home will have to go through inspection and due diligence.

Basically, this means you’ll have to hire professionals to inspect the property for potential issues, such as structural problems, pest infestations, or any environmental hazards. The time required for inspections can change based on the size and condition of the property.

You may also use this period to do any more research on the neighbourhood, school systems, and other relevant factors that could impact their decision. If any red flags start to form during inspections, negotiations can actually start again if you want to address necessary repairs or adjustments to the purchase agreement.

5) Finalising Financing And Closing

With inspections and due diligence completed, the focus shifts to finalising financing arrangements and preparing for the closing process. This involves:

• Working closely with the chosen mortgage lender to complete the necessary paperwork
• Having your home mortgage application approved
• Address any outstanding conditions
• Completion (usually takes between 7-28 days after the exchange of the contracts)
  You’re now a homeowner!

Buying Your Home With Liam Gretton

Going through the process of buying your first home can be a really tough and overwhelming experience for some. However, at Liam Gretton, we understand the challenges that come with this huge financial decision, and we are dedicated to providing you with the guidance and support you need to make informed choices.

Our team of professionals is committed to assisting you at every step of the way with a fully tailored experience. So, whether you’re a first-time buyer or looking to upgrade to a new property, our personalised approach makes sure that your individual needs and goals are at the forefront of our service.

Our services extend beyond property selection; we can connect you with reputable mortgage lenders, guide you through the intricacies of the legal process, and offer advice on negotiations and inspections.

Your home-buying experience shouldn’t put you off wanting to live in your forever home, and that’s why we try to make it the least stressful as we can because this is a massive moment in your life and we want you to be present in the moment! Contact us today to find your own by either calling 0151 662 0312 or emailing us at hello@liamgretton.co.uk.