Buying a home in Naples
Buying a home is most likely the most significant personal and financial decision you will make, and it marks a significant step in life.
There’s no formula that tells someone when they’re ready to buy, but you should take stock of your financial situation as well as your lifestyle.
Buying a home can also be one of the most complicated processes you will encounter. With so many parts, it’s no wonder many first-time buyers start unsure about what lies ahead and how long it will take.
The best thing you can do is begin with a birds-eye view of the process. Understanding the necessary steps will give you a sense of control from the start.
Armed with your roadmap, you can relax and focus on each stage as it arrives.
Here is the checklist for first-time home buyers:
Determine how much you can afford
Work with a Realtor to find a home
Submit an offer
Get a home inspection
Get an appraisal
Close the sale.
You can expect the entire home buying process take several months from start to finish.
The exact speed will depend on individual factors like the local housing market.
Planning for a long journey means it will be easier to stay patient throughout the process.
Your first step, mortgage pre-approval, can take 30 days or more, according to Credit.com. That’s when the fun begins — and the searching. The National Association of Realtors reports that it takes on average ten weeks for buyers to find the house they’ll likely buy.
When you find “the one,” the Home Buying Institute notes negotiation with the seller can take under a week, but with the emotional stakes at play, it might well feel like longer. Once an offer is accepted, the closing process typically takes 30 to 60 days.
Although the road ahead may seem daunting, you’re not alone. The report by the National Association of Realtors suggests that more than a third of all American home-buyers are navigating the system for the first time.
This is where having a real estate agent on your side makes navigating buying a home a more straightforward process.
Contact us for more information on how we can help you.
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