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How Long Does It Take To Buy A House? Get The Answers Here

How Long Does It Take To Buy A House? Get The Answers Here

One of the most common questions asked when searching for a home is: How Long Does It Take To Buy A House?

There is no rule of thumb or guaranteed amount of time it takes to buy a house. Since a house is a big investment, most people their time before making that purchase. However, there are certain ​times when a house is needed as soon as possible and therefore, ​certain processes can be expedited.

​A lot of factors ​must be taken into consideration when finding an answer to how long ​to buy a house. If you are about to start looking for a house to purchase and ​want to ​take a best guest on how long the process will take, then read on to find out ​which circumstances ​you have to take into consideration.

How Long To Close On A House? Take These Factors ​Into Consideration

Supply and Demand

The type of market you are in and the season ​can be an ​indication of the amount of time you will spend. Just like any other commodities in a market, houses also have a supply and demand curve. When the inventory then is low, it may take longer for you to ​pick the right house.

Factors that might affect the supply of your ​options are its features and your desired neighborhood. Houses which have unique features like a gym or​ a pool will have a smaller supply than the standard homes.

Method of Payment

Another factor that affects how long it takes to buy a house is your method of payment.

Cash transactions are generally faster than the other methods. They also tend to be less of a hassle.

Financed transactions, those which involve a bank or financial institution, are longer to process.  However, this method of payment can help you purchase a house with a higher price.

​In the end, the method of payment you will choose ultimately depends on your ​financial situation and the urgency of getting a house. If you have saved up for your house, then there is no wrong with going for a cash ​option. If you have a stable financial situation but have no sufficient cash at hand, then opting for a financed transaction can be a good choice.


For cash transactions, the period to settle such can be as fast as two weeks. The two weeks of work is not just about handing the money to the seller. The time frame will is affected by how fast a title search can be done and to prepare the necessary closing documents.

Since you will not be needing any loan approval from a bank, the time spent in a cash transactions are mainly on getting the required documents in order to smoothly transfer the title of the seller to you.

​If you are a seller looking to sell your home, this type of sale is the most ideal.


As mentioned earlier, if buy a home through a financed method it will take longer to close on a house. The usual time period is around 30 to 60 days.

​The transaction is now dependent on a number of procedures that you have to pass in order for you to secure a loan approval. ​

After compiling all the required documents, you will then submit them to the financial institution that will fund the loan. Talk to your mortgage banker about the time frame for the loan processing to be complete.

​Usually it will take around 45 days since the financial institution has to go through different steps ​to determine if your loan is a safe and secure investment.

On a side note, this step in the process is when people experience the most frustration as it can be characterized by either too much tedious paperwork or no progress at all.

​After all the leg and paper work, the mortgage bank will either approve or deny your application.

Personal Circumstances

Aside from the market factors mentioned above, your personal circumstances will also contribute to how long it takes to buy a house.

For example, if you need a house ASAP because you are moving to a new city or your old house was damaged by a disaster, then the duration of the home buying process will be faster.

If you are looking buy your dream home, then expect that there will be a lot of time spent on looking at different house listings and various show rooms. Additionally, your motivation and dedication in buying a house can make the difference between a fast transaction and a long one.

​Obviously, ​the more determined you are to buy a house immediately, the transaction will be faster. You will have a tendency to follow up consistently on the needed documents and to ask constantly for updates regarding the loan procedure. On ​average, it will take around 30 to 60 days before a person actively looking for a home ​to complete the purchase.


Alfonso Rodriguez

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