Hey there, future homeowners! If you’re dreaming about buying your very first house in North Carolina, I’ve got some pearls of wisdom for you. We believe that Home Ownership can build your families wealth in the strongest way possible. We’ve built generational wealth for our family by purchasing homes in NC, and we want you to be a homeowner too! That’s why I’ve put together 5 Things to Know Before Buying A Home in NC. As a First Time Home Buyer – I often think it’s hard to know what to focus on, so I hope this helps!
- Location, Location, Location:
Before you get all starry-eyed about that perfect porch swing or the awesome man-cave potential in the basement, think about where you want to put down roots. North Carolina is a big, beautiful state with lots of diverse areas. The mountains, the coast, or somewhere in between? Think about your job, your lifestyle, and what kind of community you’d like to call home. It’s like picking your favorite ice cream flavor, only you’re going to live in it.
Another consideration when buying a home in NC will be SCHOOLS. Even if you don’t have children, or want to have children – you must think about your house as an Investment. Because of that, and hte fact that you might want to sell it sometime, you will want to consider what schools are nearby, and their ranking. It will make a difference in the price you can get for your home.
- Budget Wisely:
Being a homeowner is like playing a real-life game of Monopoly, but instead of passing “Go” and collecting $200, you’re forking over that mortgage payment every month. So, you need to have your financial ducks in a row. Sit down and figure out how much house payment you can carefully afford.
When you are figuring out what your can afford when buying a home in NC , don’t forget about property taxes, insurance, and home owners associations. A fixer-upper might seem cool, but do you have the cash and time to make it your dream home?
This is really where we can help. We will go over your finances and talk with you about the difference in renting and owning a home. We will calculate your payments, and what your closing costs are likley to be– we will also help you figure out how to pay your mortgage off early! Ask us about making a 13th payment each year!
- Mortgage Matters:
Now, here comes the nitty-gritty part – the mortgage. It’s like making a deal with the bank so they can help you buy your dream home. You’ll need to decide on the type of mortgage that works best for you – fixed-rate or adjustable. Fixed means the interest rate stays the same, which makes budgeting easier. Adjustable means your rate can change over time, which could be risky.Also talk with us about down payment options. There are many great programs out there that do NOT require a down payment when buying a home in NC .
We also offer a Mortgage Credit certificate program that can save you $2000 a year on income taxes! Many Lenders in NC do not offer this program – so be sure you get access to all of the benefits you qualify for in NC!
Again, this is what we will do with you. It can be done over the phone, or in person. If it’s over the phone, it generally takes about 20 to 30 minutes for us to get the information we need, and to answer your questions. Then we do an analysis, and find the best programs for you. After we send you the extimate of costs, and the payment break down – we get back on the phone and go over all of it. Ask lots of questions, no one minds, and we want to be sure we are listening to your concerns.
- Home Inspection is a Must:
So, you’ve found your dream home, and it looks amazing. But don’t get carried away just yet! You need to get a home inspection. It’s like having a detective check for hidden issues that could turn your dream into a nightmare. A leaky roof, wonky wiring, or a termite infestation – these are the things you want to know before you sign on the dotted line. Trust me, an inspection is worth every penny because it can save you from costly surprises down the road.
Having said that – remember, you are PAYING someone to find problems with the house. Most of these reports come back with many issues when buying a home in NC – but most of them are very minor. If you are paying someone to find a problem… they are GOING to find a problem.
- Agent Up My Friends:
Last but certainly not least, you’ll want a real estate agent by your side. These folks are like your house-hunting besties – they know the market, they know the areas, and they’re there to help you every step of the way. Plus, they don’t cost you a dime as a buyer because the seller usually pays their commission. So why not take advantage of their expertise and guidance when buying a home in NC ?
Be sure to speak iwth an Agent about Dual Agency. In that situation, the Agent represents the Buyers and the Sellers – and that can be tricky with negotiations. It’s normally best to have your own Agent. That is especially true with BUILDERS.
Buying your first house in North Carolina can be a smooth ride if you’re prepared. Remember to stick to your budget, choose the right location, explore your loan options, don’t skip the home inspection, and enlist the help of a fantastic real estate agent. As it happens, we work with some of the B-E-S-T Agents in the State, so ask us! We are more than glad to give you a personal recommendation when buying a home in NC .
This journey might seem daunting at first, but with the right knowledge and support, you’ll be sipping sweet tea on your very own North Carolina porch in no time. Good luck, and welcome to the wonderful world of homeownership!
Now that you’ve got these five nuggets of wisdom, you’re well on your way to being a savvy North Carolina homeowner. Remember, it’s not just about finding a house; it’s about finding your home. So, take a deep breath, trust your instincts, and when the time is right, make that leap into the world of homeownership.
If you have any more questions or need more advice about buying a home in NC , feel free to reach out to Steve and Eleanor Thorne 919 649 5058. The Tar Heel State is full of friendly folks ready to help you make the right choice. Welcome to the family of NC homeowners, and best of luck on your exciting journey into your first house!