How Long Does It Take To Buy a House?

The process of buying a house can be time-consuming — but how long does it really take? On average, it takes about 30 to 60 days from opening to closing to purchase a house. However, the full home-buying process could take less or more time depending on your personal circumstances. Check out this step-by-step guide to learn how long it takes to buy a home.

Average Home-Buying Timeline

Every home purchase is different, but this general timeline can give you a sense of what to expect.

How Long Does It Take To Buy a House With Cash?

Buying a house with cash can significantly speed up the process. It can take seven to 14 days to close since there are no preapprovals or financing involved. 

What Are the Steps To Buy a House?

Here’s a look at the typical home-buying process, step by step.

Step 1: Preparing Your Finances

Check and Improve Your Credit

Before applying for a mortgage, check your credit score and report at AnnualCreditReport.com for free. Most home loans require good credit and improving your score could mean better loan terms.

If needed, pay down debt, dispute errors and lower your debt-to-income ratio — just note that improvements may take at least two months to reflect.

What’s a Good Credit Score?

FICO, the most commonly used credit-scoring model, breaks scores down like this:

• 800 and up: Exceptional
• 740 to 799: Very good — above average
• 670 to 739: Good
• 580 to 669: Fair — below average
• 579 or less: Poor

Save for a Down Payment

A 20% down payment helps you avoid private mortgage insurance (PMI) and start with equity, but some loan options require less. Fannie Mae and Freddie Mac may allow 3%, while VA loans can go as low as 0%.

Budget and Estimate Affordability

To stay on track financially:

• Start saving early. Most down payments require tens of thousands of dollars.
• Set up automatic transfers. This will help you save consistently every month. 
• Use a high-yield savings account. You can grow your money safely and earn interest.
• Cut back on expenses. Redirect windfalls like tax refunds or bonuses toward your savings.

Step 2: Get Preapproved for a Mortgage

Preapproval helps you understand how much you can borrow and shows sellers you’re a serious buyer. Lenders will review your income, credit, assets and debt — standard preapprovals can take minutes to a few days once documents are submitted.

Mortgage Preapproval Timing Tips

• Fully underwritten preapproval gives sellers more confidence but can take up to three weeks.
• Preapprovals expire in 60 to 90 days.
• Rate locks typically last 45 days, so act promptly once you’re approved.

Step 3: Find a Home

Home shopping often takes the most time. You could work with an agent or tour homes yourself to find the right fit for you.

Working With an Agent

Nearly 90% of homebuyers work with a real estate agent, according to the National Association of Realtors. While you can connect with an agent within a few minutes, take a week or two to research and interview agents. Choose someone local with strong references and area expertise.

During the process, ask questions like:

• How long have you been in the business?
• Is real estate your full-time job?
• How many buyers do you work with at once, on average?

Touring and Shortlisting Homes

Many sites make home touring accessible. You could do a virtual tour on sites like Zillow, Redfin and Trulia. Create a shortlist of homes you’d like to tour in person and note features that matter most to you.

What Can Affect Search Time?

• Market inventory: Are there homes for sale? If inventory is limited, it could impact how quickly you can find a home. 
• Location: In locations where there is a high demand, you may need to wait longer to find your dream home. 
• Your budget: Buying a home is expensive. Even if you find the right home, you may be limited by your loan approval amount.  
• Specific features: If you’re looking for special items in your home, it may take longer for you to find a home you’re happy with. 

Step 4: Make an Offer and Negotiate Terms

Making an offer involves a natural back-and-forth between buyer and seller.

Craft a Competitive Offer

To stand out, aim for an offer close or above the asking price, especially in a competitive market. Including earnest money — a good-faith deposit — shows the seller you’re serious. A trusted real estate agent can suggest what a strong offer will be.

Negotiation Points

Buyers and sellers typically negotiate on the following:

• Purchase price
• Closing costs
• Repairs or other seller concessions

Step 5: Apply for a Mortgage and Begin Closing

Submit Your Mortgage Application

Even if you’ve been preapproved, you’ll still need to apply for a mortgage with your chosen lender. Be ready to submit documentation, including your assets, credit details, income and debt. During this process, you’ll lock in your interest rate for a specified period and receive a loan estimate. 

Appraisal and Inspection

• A home inspection typically takes two to three hours, but scheduling and receiving the report can take several days. You choose the inspector, though your agent may have recommendations.
• Your lender will schedule an appraisal shortly after the seller accepts your offer. It may take up to two weeks for the report.

Underwriting and Conditional Approval

Expect conditional approval within one to two weeks if all documentation is in order. Final approval may hinge on smaller items like:

• Gift letters explaining the source of funds
• Explanation of large bank withdrawals
• Verification of retirement or investment accounts
• Proof of primary residence — especially for long commutes

How long does it take to close on a house once your offer has been accepted? On average, it takes up to 43 days to close, according to ICE Mortgage Technology. This includes underwriting unless you already have received full preapproval.

Closing Disclosure and Final Walkthrough

• You will receive the closing disclosure three business days before closing. Review it carefully to confirm loan terms, closing costs and final payment due.
• Schedule your final walkthrough 24 to 48 hours before closing. Bring your inspection report to confirm all repairs have been addressed. 

Factors That Can Delay Closing

• Incomplete documentation or financing issues
• High market competition and limited inventory
• Low appraisals or failed home inspections
• Titles issues or unresolved liens

Tips To Speed Up the Home-Buying Process

To make buying a home an efficient experience, keep these tips in mind:

• Be prepared with your documents: Have your bank statements, tax returns and other documents readily available. 
• Secure a preapproval for your mortgage: Coming armed with your preapproval from the lender shows that you’re serious about buying a home. 
• Schedule home inspections and appraisals early: Scheduling these appointments early in the process will help to prevent the process from stalling near closing. 

Barri Segal, John Csiszar and Ashley Redmond contributed to the reporting for this article.