How Long Should I Spend Looking for a New Home?
Whether you've been looking for a home for a long time now, or you're just about to get started on the hunt, you're probably wondering how long you should spend looking for a new home.
Does it take weeks to find your forever-home, or months or even a year? What's typical?
There Is No Typical
The reality is, there is no typical amount of time it takes to find your home. There are too many variables, including how actively you're looking. Maybe you've heard horror stories of people who've been hunting for a house for a year. But come to find out, they've only really devoted one weekend a month to looking at houses.
Or you've heard of a couple who found their dream home in just two days. Well, odds are they spent many nights online, sifting through hundreds of house images and only went to see a handful of homes in person which really met their search criteria.
The Market Plays a Part
It takes longer to find a home when the market is slanted toward sellers. In times like that, there's less inventory and the houses that are available may be out of reach financially. Keep looking, though, because your real estate agent may find the ideal house on the market from a motivated seller who's willing to come down on the price. Hang in there and you'll find your dream home in any market.
Does Your Dream Home Exist?
If you feel like your home search has been dragging on despite a favorable market, it could be you're looking for something too elusive to find. Maybe it's not the houses you're dissatisfied with, but something else. You may be unconsciously trying to recapture something you've lost, like your old childhood neighborhood or a feeling of community.
These are all valid desires that you can acquire with the right home in the right place. Try to identify what you're really looking for so your real estate agent can help you find it.
When it comes to finding your home, it takes as long as it takes. Be sure to secure your pre-approved financing with a trusted mortgage advisor with Bond Street Mortgage and enjoy the process. Communicate with your real estate agent and try to keep an open mind. One day, when you least expect it, you'll walk through the doors of your next home for the first time.
Frequently Asked Questions
There is no typical timeframe to find a new home, as it varies based on factors like how actively you search and market conditions.
When the market favors sellers, fewer homes are available and prices may be higher, which can lengthen the search. However, motivated sellers may offer deals, so persistence helps.
Yes, spending time online reviewing many listings narrows down options, making in-person visits more efficient and potentially speeding up the process.
Reflect on whether your expectations are realistic or if you’re seeking intangible qualities like a sense of community, and communicate these to your agent to refine your search.
Securing pre-approved financing ensures you know your budget and strengthens your position when making offers on homes.
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