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A Closer Look at the Length of the Home-Buying Journey

Buying a home will be one of the biggest investments you make, so it’s important to know what to expect before you start that process. From deciding on your dream neighbourhood to hiring a real estate agent and putting in an offer, there are plenty of steps to navigate on your home-buying journey. With that said, let’s take a closer look at what you need to know:

Planning To Buy A Home

6+ months
When you’re buying a home, there are a lot of things you need to consider—especially if you’re a first-time buyer:
  • Desired location, whether it be a city or a specific neighbourhood
  • The stability of your income
  • Budget, including down payment costs and future mortgage payments
  • Your credit score
This can be a quick process if you already know what you’re looking for and have a good credit and income, but it can take longer if you have to make lifestyle changes to improve those. Once you know where you want to live and how much you can afford, you can start actively looking for your new home.

Hiring A Real Estate Agent

1-2 weeks
A good real estate agent can help you navigate the complicated process of buying your new home. This time allows for interviewing multiple agents to ensure a good match in terms of market insight, communication skills, and alignment with your home-buying objectives.

Choose a Mortgage Lender

1 week
Like choosing a real estate agent, you want to find a mortgage lender who aligns with your needs. You can look for the two simultaneously, cutting down on how long it may take, but real estate agents may have recommendations for local mortgage lenders who have worked with previous clients. This can be especially helpful if you’re moving to a new area and unfamiliar with the local mortgage lender options.

Home Tours

10-15 weeks
The span of 10-15 weeks is attributed to the comprehensive nature of the search process. This time allows you to explore a wide range of properties in person or virtually, ensuring you find one that meets your criteria. It accommodates the scheduling of tours, the variability of the housing market, and the time needed to revisit homes or explore new listings that emerge. Additionally, it allows for reflection and decision-making, ensuring you’re confident in your choice without feeling rushed.

Making An Offer

1-5 days
The length of the offer process depends on if you have to negotiate the buying price. Once you’ve found your dream home, your real estate agent will help you put in an offer, and from there, the seller can accept, reject, or counteroffer. Whatever they choose, your real estate agent can help you with the next steps, whether moving on with the process, returning to home tours, or negotiating the price.

Loan and Underwriting Process

3-5 weeks
This phase can take a few weeks, depending on how long it takes to arrange a home inspection, appraisal, and title search. The home inspection will determine if there are any structural issues; the appraisal will determine the property value and taxes; and the title search will determine if the seller has legal ownership of the property. Once those three steps are done, they will send reports for the lender to review alongside your finances to determine how much they can provide in the loan.

You will also want to look into what kind of home insurance you need, as it’s often required to secure a mortgage, but your lender can guide you on coverage types.


30-50 days
While the actual closing day tasks can be completed in a matter of hours, involving signing the remaining paperwork and transferring funds, it’s important to note that moving into your new home usually doesn’t happen immediately. In most cases, there will be a waiting period before you can move in, as the seller moves out before you finally get the keys to your new home.

This closing process concludes the home-buying journey, involving finalizing your mortgage, legal documentation, and settling closing costs. You’ll receive your closing disclosure a few days before the closing date—which will have the final details of your loan estimate—so you can review it yourself or with a lawyer.

If you’re ready to start your home-buying journey, contact us today at Results Realty to find out how we can help you find the home of your dreams.