I hope you’ve found the last few weeks of timeline blogs useful in thinking about how long it will take to purchase a new home. If you tend to think in pictures, the extent of the timeline will not become clear until you see it graphically. So here it is! If you’d like a copy just email me – see details below!
32 weeks! Needs some explanation?
I can take half a year to find your new home, purchase it, move in and receive all the paperwork. These are estimates of course, if you are in a chain or take longer to find your perfect home, then it can be lengthier.
The plan above assumes that you do not want to risk spending money, without being sure that the previous step has been fully completed. For example, you do not want to spend money on a survey until you know that your mortgage offer is in place. If you don’t have the funds to buy the property, why waste in the region of £500! If you are confident that a mortgage offer will be forthcoming, or you need to move much faster that the 16 week offer to completion timescale, then the survey can be started earlier.
Another example is not starting the searches and checks until the survey is complete. Survey outcomes are one of the largest causes of purchases falling through. As a buyer, you need to ensure you are comfortable with the survey and if not, ensure that the work is carried out before contract exchange. They can involve re-negotiation with the seller. Therefore, if your priority is keeping the costs down, rather than time, you need to wait until the survey is completed before instructing the conveyancer to proceed with the searches as these are costly.
How quickly can it be done?
It is possible to go from offer acceptance to completion in 6 weeks. I know, as I’ve done it!
You will need to ensure all the relevant third parties are lined up, understand the risks you are taking in running steps in parallel and be prepared to chase activity and responses on a regular basis.
Would you like a free template to track your move yourself?
If you would like an excel version of the timeline so that you can track your house move against it,
Just add ‘free timeline moving template’ into the title and let me have your name and email address and I’ll pop it straight over to you.