Need More Space? Now is a Great Time to Buy a Home

I went to the closet to store a few toys.

When I opened the door there was nothing but noise.

Box after box fell on to the floor.

It took all my power to close that big door!

Down to the basement to store all this stuff.

I was looking for room, but there wasn’t enough.

So out to the garage to find some more space.

But it was loaded with boxes all over the place.

It’s time to move, this house is too small.

I’ll get on the phone & give my Banker a call.

He looked at my numbers and said you’re Approved!

Let’s start packing our stuff and get on with this move.

We’re looking at homes, we know we’ll find one.

But after 36 viewings, there really were none.

Ugly green carpet, everything outdated.

The ads on these homes were way overrated.

We asked our Realtor, is there anything nice?

She said yes there is, but you’ll have to up your price.

We weren’t very happy, she could see on our face.

She said $10,000 higher and you’ll find a nice place!

The home on Elm Street was pretty as a picture.

With Beautiful flooring and outstanding fixtures.

Granite counters and Stainless Steel.

We can see that this home is a really good deal.

The look on our face went from frown to smile

We had found our dream home, but it did take a while.

It has triple the space, this home is just great!

Let’s make an offer, before it’s too late.

Sellers accepted our offer, we are so delighted.

Plus nervous and anxious, but definitely excited!

Christmas in our new home, because the closing is near.

And Merry Christmas to you and a Happy New Year.

Common Question: How long does the home buying process take?

Answer:  A common point of confusion for people when they are purchasing a home is how long the home buying process will take. Some think that it all comes together immediately, while others assume that it will take months before they move into their dream home. The truth is that there are a couple of different components which can either expedite the process or prolong it. First and foremost, when you begin to look for a home, you should be prepared to allot however much time you will need to find it. The amount of time it takes to find your chosen home can vary for many reasons.  If the inventory is low, it may take you a little more time to find the house that’s just right. Finding a house with any unique features that you want may also take you a little while longer.  Your motivation and personal timeline will also impact how quickly the shopping process can take. On average, though, I would say buyers in my market look at 15-30 homes before ratifying a contract.

 Once your contact has been accepted, your lender takes the ball.  The Lender work starts with getting the property appraised and all of your financial documentation in order for an underwriter to review. Although you were give a prequalification by the lender, the underwriter ultimately decides if you are credit worthy.

A 30- to 45-day window from contract to close is a good ballpark for most purchase loans in Indiana. Could be as long as 60-75 days if you are buying in Illinois. Illinois takes longer because….. well it’s Illinois. But, understand, it’s not uncommon for underwriters to require additional documents once they begin scrutinizing your loan file.  

Borrowers can help speed the process along by returning those documents as quickly as possible. You don’t have a ton of control once you’re under contract on a home, but this is one key area where your swift action — or lack thereof — can have a big impact on your homebuying timeline. During the loan process, you can complete the home inspection, so this should have no effect on the time it takes to close. Every home buying experience is different. Each has its own twists and turns. But these are general guidelines as to how long the home buying process works.