There’s no doubt this is an exciting time for you - there are lots you can look forward to as a buyer. To avoid any disappointment, the first step to buying a house is to be mindful of the timescales. That way, you’ll know what to expect when it comes to how long the process can take. 

From the moment you find your dream home to turning the keys in the door, a buyer should expect a three to six-month home-buying process. In some cases, this can be prolonged but that is the average length of time it takes so have this in mind when you start your journey.

When moving home, it can be tempting to start finding the right property immediately. Whilst the home itself is arguably the most important factor, it’s beneficial to start the mortgage process with your lender first and foremost. 

Many Estate Agents will ask for a Decision in Principle (DiP), also known as the Agreement in Principle (AiP) or a Lending Certificate before viewing a property - so they can be confident you’re in an appropriate financial position to buy. This will also give you a true picture of the mortgage offers available to you, what deposit you will need for a house type in your budget and what you’ll need to do to secure it. 

Having an idea of what you can borrow is a vital part of the step by step process to buying a house. Use our New Mortgage Finder to view the rates available to you at the moment, here at Furness Building Society.

It’s time to find your dream property! Once you have a clearer picture of your deposit size and the mortgage deals available to you,  you can start the most exciting part - searching for your new home. 

When it comes to finding the one, whether it’s the first home of your own or you're moving on to pastures new, it’s important to be realistic about your budget. Make sure you’re clued up on all the additional costs associated with buying a home. 

Mortgage and valuation fees, stamp duty and any brokerage fees are just a few of the extra costs that come alongside the home buying process. Ensure you’ve factored these into your total budget and the house-hunting process should be an enjoyable time  - without any hidden surprises. 

For more information on additional costs and what to expect, follow our Guide For First Time Buyers.

When you’re sure you’ve found the one, it’s time to make that all-important offer. This can be higher or lower than the asking price of the property so try and gauge from the estate agent what the owner is expecting and balance this against what you’re willing to pay. 

According to a report from Rightmove, increasing numbers of buyers are now also negotiating asking price discounts on homes with poor energy ratings. This is as a means of compensating for the cost of making required green improvements to the property over the next ten years.

By contrast, sellers who have already made changes that improve their property’s EPC rating (Energy Performance Certificate) are adding as much as 16% to the price.

Always remember to stay within your budget and make sure you’ve considered all the finer details, such as which fixtures and fittings will be left in the home for you. This will help you to avoid unexpected costs further down the line.

By this stage, you’ll have begun the mortgage process mentioned in step two and should have your Mortgage in Principle under your belt. Now you just have to wait patiently to find out if your offer has been accepted...

Celebrations are certainly in order once you reach this stage - you’ve had your offer accepted! This is exciting news but before you pop open the bubbly, be aware there are a few final things to tick off the list before you can fully secure your home. 

By this point, neither side is contractually bound to the agreement and the sale could still fall through if gazumping offers are made or problems within a chain arise. 

Now you’ll be required to survey the property to ensure there are no skeletons in the closet and the value of the property is as it ‘should’ be. Here your lender will undertake a valuation survey and a private surveyor can be enlisted to provide you with as much information about the condition of the property as possible.

Following the valuation process and depending on what has been brought to light through the survey, you may wish to renegotiate costs with your seller, finalise your mortgage deal with the lender or pull out altogether. 

If all runs smoothly in the valuation stage, you should contact your lender to secure your mortgage deal. Your lender will then provide you with a binding mortgage offer, which usually comes with a seven-day window of time to accept.

Moving on to the seventh and final step to buying a house… Here you exchange contracts and the house is officially yours! Yipee!

If there are no bumps in the road, your solicitor will send you a contract to sign - at which point both buyer and seller are bound to the deal. Once you’ve signed along the dotted line, your solicitor will usually arrange for the transfer of any remaining finances still owed. 

This will also be the time to pay any final fees to the relevant specialists. Once mortgage fees, solicitor bills and stamp duty have been paid off you can finally sit back, relax and enjoy life as a new home owner!