How Long Does It Take to Buy a House?

Whether you envision yourself in a single-family house in the suburbs or a condo near a city center, buying the home of your dreams can take time.

From the first credit check to closing, there are many steps in the journey to homeownership, and no one can predict exactly how long the process will last for you. But here are estimates of how long each step might take, from start to finish.

» MORE: How long does it take to close on a house?

Time varies

If, like most people, you plan to buy your home with a mortgage, knowing how much house you can afford is one of the first steps. Affordability depends on your income, debt and funds available for a down payment. This step might include:

• Checking your credit scores and credit reports.

• Building your credit and paying down debt, if necessary.

• Budgeting for the upfront and recurring costs of homeownership.

• Setting a price range for your house hunt.

• Gathering the paperwork you’ll need for a mortgage.

• Making a plan for your down payment.

To avoid the extra cost of private mortgage insurance, you might aim to put down at least 20% on a conventional loan. The cost of that 20% may vary quite a bit depending on home values where you live. It could take a household earning the median national income of $67,521 an average of 14 years to save 20% plus closing costs, according to 2022 data from U.S. Mortgage Insurers, an association representing private mortgage insurance companies. That’s to buy a home for about $350,000, roughly the national median sales price. Saving 5% would take the same household five years, but that would likely require mortgage insurance.

Want to become a homeowner sooner? Look into loans that allow some borrowers to buy a house with no money down, like loans guaranteed by the Department of Veterans Affairs (VA) or U.S. Department of Agriculture (USDA). You may also be able to qualify for local and state down payment assistance programs.

» MORE: How to save money for a house

Up to two weeks

A mortgage preapproval is a lender’s estimate of how much money you can borrow based on your income, credit score and debt. A preapproval includes the type of mortgage you’re approved for, the loan amount and other terms.

Though it varies by lender, a mortgage preapproval typically takes several days to complete. Most preapprovals last for 90 days, but some might last 60 or 30 days.

Getting preapproved with more than one lender helps you to compare loan offers so you can choose the best interest rate and terms. Preapproval involves a hard inquiry on your credit report, but shopping for rates within a 45-day period can minimize the impact to your credit score.

Plan to spend a week or two comparing offers from different lenders.

10 weeks, on average

Armed with a preapproval, you can begin your home search. Consider enlisting the help of a real estate agent to guide you through the process.

The number of homes for sale and the time of year are among the factors that will affect the length of your housing search. Time spent looking for the right home also varies by buyer, budget and how they choose to search. Buyers typically searched for 10 weeks and toured a median of five homes, according to a 2023 report from the National Association of Realtors.

» MORE: Starter home or forever home? How to pick your first house

A few days or longer

Once you find the right house, the next step is to make an offer. With help from your real estate agent, you can negotiate specifics with the seller, including the price of the home and closing costs. Negotiations usually last a couple of days but can take longer if there is a bidding war or a counteroffer.

» MORE: Protect yourself with contingencies and disclosures