You may have heard of a 30-day close, but how long does the home-buying process take end to end?

Answer: 197 - 257 days

That’s 6.5 - 8.5 months!

Questions:

• Why do you think buying a home takes so long?
• What challenges could be caused by that long process?
• Reflect on a situation where you had to wait a long time for something you really wanted. How did you manage your expectations and emotions during the waiting period?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom

Behind the numbers (Investopedia): 

Steps to buying a home:

1. Find an Agent: 1-2 weeks
   
2. Get Pre-Approval: 1-2 weeks
3. House Hunting: 4-5 months
4. Make an Offer: 1- 7 days
5. Get a Mortgage: 21 days
6. Close on the House: 40-50 days

"What Is the Longest Part of the Home Buying Process?

Actually closing on the home for which you've received a mortgage is typically the longest part of the homebuying process. Having a final walkthrough, paying closing costs, handling any inspection or repair issues, and negotiating and exchanging contracts can take up to four months.."

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Teach your students more about home-buying through the NGPF Mini-Unit: Buying a House!

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.