“Home is the nicest word there is.”- Laura Ingalls Wilder
The meaning of ‘home’ is different for every person. It may represent safety and security. It may also symbolize love and laughter. No matter what meaning you associate the word ‘home’ with, it most likely represents one of, if not the biggest investments you can make, like we discussed in the last blog. With all of the anticipation and preparation that comes with buying a home, it is odd that some buyers make an offer on a house in less than an hour…
No, I am not saying that the house search process only takes 30 minutes. No, I am not saying that getting pre-approved, finding a realtor, and creating a search criteria for your home will take just an hour of your time. Yes, the average time to close on a home is between 30 to 45 days. So what am I saying that it takes less than an hour to do? The key word is offer.
Once you have the search criteria and a trusted realtor (Like LIV Indy’s team), you most likely will begin to see homes sent to you that match your requirements. Or, maybe you find a home that fits your criteria from doing some additional searching on Zillow, Redfin, etc. Whatever it may be, imagine that it is time to tour a few homes. It typically seems overwhelming at times to make sure you see all the features and characteristics of a home, even after you educate yourself on what to look for like content talked about in our previous blog (Buying a Home–What Do I Look For?). However, have you ever toured a home and knew it was the one after a quick 15 minute walk through? Or did you meticulously take your time during the 45 minute walk through and then tell your realtor to send a written offer immediately after? If you haven’t, ask a friend and I bet one of them has.
This blog isn’t designed to give you a secret time formula on how long it should take to make an offer on a house. Some buyers may tour 100 homes and some will find their forever home on that first tour. But can we all agree that it is unusual to make the biggest investment of your life based on touring a home for often less than 60 minutes? The average time to shop, test drive, negotiate, and buy a car in the U.S. is 14 hours, according to AutoTrader. Although buying a car represents another significant investment for the majority, it can be argued that buying a home is at the top of the list. So how can it only take less than an hour to see a home and make an offer? I don’t think this is a negative common occurrence, rather the focus should be on how this trend has been maintained for years.
So what does all of this mean? Every single home buyer has different preferences, different search processes, and different timelines. There are plenty of resources that guide you through the home buying or renting process, but just realize that your path towards buying a home is unique and might be different than your neighbors.
If you have any questions about this blog post, or you have any questions about real estate, don’t hesitate to reach out out via the chat on our website.