Sometimes, life is all about the process. Finding meaning in every moment and trusting that every encounter will result in spiritual growth. When we talk about moving into a house, on the other hand, we usually want the process to be over with as soon as possible. After all, even a seasoned yogi would find it difficult to achieve mindfulness while waiting for a contract to close. So how long does it take to move into a house?
The good news is not forever; the bad news is, it may seem like it. But there are ways to speed up the process of home buying, and we at Moving Squad just happen to know a few of them. Here are some enlightening details from Moving Squad on the buying a house and the hacks that make it a bit less nail-biting.
How Long Does It Take to Move into a House and Why Does It Take So Long?
On average, it takes about 4 and a half months to buy a house and 35- 40 days waiting for the contract to close. Why does it take so long? Because of all the time-intensive steps that you have to go through.
Getting Your Offer Excepted: When the market is competitive, expect to put in offers on a few different homes. According to the 2019 Zillow Group House Trends report, over 15% of buyers found that having an offer accepted on a home they were interested in was difficult to very difficult.
Negotiating: Let the haggling begin. It can take a lot of back and forth before a buyer and seller agree.
Preapproval and financing: When money talks, cash speaks the loudest. If you need to finance, on the other hand, it can take a while to get preapproved and have the loan underwritten, never mind finding all of the personal documents needed to apply for the loan in the first place.
How Long Does It Take Move into a New House Like a Boss?
As we at Moving Squad like to say, “Hack now, slack later.” Paying with cash, completing the paperwork quickly, scheduling an appointment with your home inspector asap, and making sure that your agent stays in constant communication with you can all expedite the home buying process. If that sounds like a lot to chew on, let’s break it down into smaller bites.
Get Your Finances in Order
The rule of thumb when it comes to home buying is to start saving for your down payment (typically 20% of the price) about six months before you plan to buy. Saving 2- 5% of the purchase price each month should leave you with enough money to cover the down payment along with additional expenses.
Also, be prepared to face the harsh reality of your credit profile. A higher credit score will get you a better interest rate, so see what you can do to raise it. Request copies of your credit reports, start paying off bills, and resolve errors and discrepancies.
Know Your Market
Do start searching homes for sale online and attending open houses on your own, but don’t underestimate the value of a good real estate agent. Real estate agents are familiar with the local area and can guide you through the home buying process. They can also connect you with an inspector, attorney, and mortgage broker/lender.
And don’t forget about that credit report (as much as you might like to). Keep in mind that all of the financial activity you’re engaging in right now is making its impact. Avoid taking out large loans that can lower your credit score. Changes in your income or employment can also affect your likelihood of getting approved for financing.
Getting pre-approved is sort of like getting a letter of recommendation from your lender that says you qualify for a home loan, but it is not to be thought of as a free pass to go-directly-to getting one. You do still have to play the game; a pre-approval just gives you a better chance of winning.
Your lender will ask you for some basic information and run a credit report, after which he or she will issue a pre-approval letter including the home loan amount the lender would be willing to lend you. Most pre-approval letters are good for 60-90 days, so plan on getting one about 2-3 months before you make your purchase.
Make an Offer
Once you’ve made an offer on a house, the seller has three choices: accept your deal (celebration), refuse or negotiate a better deal with you (negotiation), or simply ignore the offer (this is most likely to happen when you don’t include a pre-approval or substantial cash deposit). In general, you expect the waiting period from offer to contract to last no more than one week.
Completing Escrow Related Tasks
Even after your offer has been accepted, there are still a few I’s to be dotted and T’s to be crossed. During the 30 to 45-day escrow period, your lender will inform you of various checkpoints that are necessary for the underwriters to approve your loan. These include home inspection, appraisal, and possible requests for additional documentation. Schedule with your inspector as soon as possible. Most contracts stipulate that home inspection must be done within ten days of going under contract.
Preparing for the Move
Now that you’ve bitten your nails down to the quip and you’ve noticed a few more gray hairs coming in just over your right temple, it’s time to contact the movers. Do you think you can hack it?
Moving can be costly if you don’t plan for it properly. From hiring unprofessional movers to paying for services that are not part of the original plan, hastily planned moves turn into hastily signed contracts, and hastily signed contracts can turn into near disasters.
You Do the Planning and We’ll Do the Hacking
At Moving Squad, we think all of our customers should plan for their moves carefully. We Just let us know your needs and budget and we’ll adjust accordingly. encourage customers to draw up a budget so we can provide them with a free transparent rate quote. We never make you sign a contract until you’ve had time to think your decision through.
Once you are completely comfortable with our services, let us handle the hacking. From moving to package to storage, our South Florida local movers will handle every aspect of your move efficiently, professionally, and faster than a speeding bullet. (For super speedy delivery, check out our patented Express Pack).
Our packing services include blanket wrapping of your furniture, all the materials, delivered to you on moving day, and big-hearted, large muscled individuals to safely pack your treasured belongings. We have clean, climate-controlled storage units available for long and short-term storage, and a policy of standing by our customers from the beginning to the end of the move.
So how long does it take to move into a house? A lot shorter when you hire Moving Squad. Contact us first, and get a free rate quote or download our free app for more resources. We hack while you slack, and we never leave our customers hanging.