Twinkling fairy lights, festive songs playing and the smell of roasting vegetables gently wafting through the house… we probably all have an idyllic vision of our home at Christmas.
However, for many of us, having the relatives to visit only highlights the need for a new house. Perhaps last Christmas you were struggling for space to host all your guests, or you weren’t quite as proud to show off your space as you’d have liked to be.
Or it may even be that you are worried about energy bills this winter and would like to buy a more energy-efficient house before icy weather hits.
With around ten weeks to go until Christmas this year, you may be surprised to learn that there is a chance that you could be living in a new home by the time the festive season rolls around.
In fact, research shows that, on average, buying a new house usually takes between six and twelve weeks. That means that, with the right set of circumstances, someone buying their new home now could be living in their ideal home this winter.
So how long does each part of the buying process take, on average?
Find your dream home
While many people are desperate to move into a bigger and better house, it’s important not to rush the all-important stage of finding your new home. For some people, they fall in love with the first new home they set foot into. Others may take several months to explore different options before they plump for a home they love. Either way, at Belvoir we are here to help you find the house that ticks all your boxes, and make sure you are moving into somewhere you adore.
Secure a mortgage
On average, it takes between two to four weeks to secure a mortgage, with one or two meetings required with a bank, building society, mortgage broker or financial advisor. You’ll be asked to run through your financial situation and your deposit, before going through your options for a mortgage.
Here in the Corby branch of Belvoir, we’ve just partnered with leading mortgage solutions firm LionHart to provide expert inhouse financial advice. James Carter from LionHart can be found at our office on a Thursday, but also offers face-to-face, telephone or video call appointments for the rest of the week.
Make an offer
It’s always best to have a mortgage offer in place while you search, so that when you find the home you want to buy, you can make an offer straight away. This can be a surprisingly quick process, and usually just involves a phone call or email to your seller’s estate agent. When you make an offer, it’s not just the price that the seller will consider. For instance, if you’re a first-time buyer, the fact that you don’t have a chain will make the offer more appealing. The estate agent has to pass every offer onto their seller, and you will normally receive feedback within one to two days.
Instruct a solicitor
After that, it’s time to instruct a conveyancer, a solicitor who deals with property law. This can often be the longest part of the process, generally taking between six and twelve weeks.
The conveyancer will work in your interest to check the home and all the paperwork. They will run requests for information, look at survey findings and coordinate dates for the exchange of contracts.
Survey, exchange and completion!
Before you buy a property, you will also need to get it surveyed, which can usually be completed within a week or so. And after that, it’s time to exchange contracts and complete on your purchase. Your wonderful new home is yours! This process often feels quite speedy after the conveyancing period, taking on average between one day and two weeks.
All in all, it can be a time-consuming process, but so worth it when you are safe and warm within the walls of your new home.
The quicker you start your search, the sooner you can be living in your brand-new home… maybe even in time for Christmas!
Start your search and call us today on 01536 261666, email corby@belvoir.co.uk, or pop in and see us for an informal chat at our office on George Street in the heart of Corby town centre.
