How long does it take to buy a house?
You could say how long is a piece of string? But we here at Warrington Mortgage Centre, we know how much it can mean to some people getting their keys to a new house, whether it’s a first-time home or simply a well-earned move.
It’s a great question no doubt, and one we get asked about every single week from first-time buyers throughout the north-west.
The answer? There isn’t one, as all house purchases are unique, mainly due to numerous circumstances that can all affect how fast the offer goes through.
Through our experience, we have a good idea of roughly how long it takes though, so we’ve put together this blog to help clear the situation up a bit further.
I’m ready to buy a house, how long will it take me?
Every property purchase indeed goes on its own journey, and no two are the same, although a lot are similar.
You could be buying from an estate, a long chain of property purchases, or even joint ownership. It could perhaps be your standard property purchase, however.
Each of these will give you a different wait time from offer acceptance to getting the keys.
Along the way there can be several hiccups too, depending on whether your seller is ready to move out, the developer has finished building or finances stay the same throughout.
If it’s merely a standard purchase of say a new build or a property that is ready to move into immediately, then we usually go about the rule of thumb that 10-12 weeks should suffice. It’s what the national average says, and it is 99% correct in our experience.
New builds, where there’s barely even a spade in the ground will obviously take longer. A house isn’t built overnight, so realistically you’ll be looking at a minimum 6 month wait. This can stretch to 9 or even 12 months in some circumstances, so you need to make sure you have somewhere to stay in the meantime if things do go on longer than expected.
It can be of course faster than these times though, with our fastest purchase of 2019 going through in just 20 days. The buyer contacted us, made the offer and had the keys, all in under 3 weeks.
If there are any stumbling blocks, then between us and the solicitors, you’ll be in great hands to rectify the issue, no matter how big or small the problem is.
Are you looking to make that initial offer for a house, or perhaps you’re worried about whether the deal will go through? If so, get in touch with us at Warrington Mortgage Centre and our team of experts will be happy to help. We can be reached via phone on 01925573328, via social media or by visiting our offices located in Penketh, Warrington.