Your Perfect Nest is a Move Away!

In most cases, you can expect the home buying process to take around 4 to 6 months from the time you start seriously looking until you close on your new home.

That said, the timeline can vary depending on your specific situation. Some buyers find the right home quickly, while others may search for months – or even years – if they have more flexibility in time and specific needs.

Once you find the perfect property and your offer is accepted, the contract-to-close period typically takes 3 to 4 weeks if you’re securing financing. Keep in mind that the seller may also request additional time for possession after closing, which can extend the timeline.

Historically, spring and early summer are considered the optimal times to list a home for sale. During this period, buyer demand typically rises as warmer weather and longer days encourage more house hunting, particularly after a seasonal slowdown in the winter months. Additionally, the approaching end of the school year often plays a key role in the timing of many buyers’ and sellers’ decisions. In Central Ohio, March, April, May and early June are traditionally very active months in the local real estate market.

Buyers, however, may find advantages in capitalizing on the fall and holiday seasons for home purchases. Although the selection of homes may be more limited, sellers during this time are often more motivated, and the level of buyer competition tends to be lower compared to the spring market.

A trusted local Realtor can provide a Comparative Market Analysis (CMA) using recent sales (“comps”) in your area. Alternatively, you can hire an appraiser for a formal valuation, which lenders often rely on before approving a mortgage. If you’re thinking of selling or just curious about your home’s value, we’d be happy to meet and discuss the details of your property.

It’s a good idea to get pre-approved before you start house hunting in earnest. The pre-approval gives you a clear understanding of your budget, strengthens your offer in a competitive market, and speeds up the process once you find a home you want to buy. It’s especially important if you’re serious about buying soon.

It depends on the loan type:

• Conventional Loan: Frequently requires a credit score of 620+ and between 3% to 20% down depending on the loan program and lender. Mortgage insurance may apply depending on the down payment amount.
• FHA Loan: Requires a credit score of 580+ and 3.5% down. FHA loans typically have higher upfront fees, but lower interest rates.
• VA Loan: Typically requires no down payment, but eligibility depends on your credit history and military service terms. The interest rate for VA loans is usually lower than Conventional financing.

There are additional closing costs with any type of financing, so it’s important to consult a trusted Realtor to better understand these expenses and know what to expect.