Buying a home can be challenging, especially when you factor in low inventory levels in top cities like Raleigh. High demand and low inventory have created something of a seller’s market, and while conditions are slowly improving for buyers, the market is still tipped favorably towards sellers.
But don’t give up! While finding a home that’s just right and within your price range can be tricky, it’s by no means impossible. Use these six tips to streamline your home search in Raleigh.
Have a question about buying a home and want to speak to an expert? Give us a call, we’re always here to help.
Tip 1: Get Pre-Approved Right Now
Getting pre-approved for a mortgage will save you so much time as you navigate searching for a home. Essentially, the pre-approval process works like this: you’ll sit down with a lender who will review all of your finances. The lender will crunch some numbers and then give you an estimate with an interest rate—that’s how much the bank is willing to lend you.
Look at this number as your budget, and then do some extra calculations on the side. Based on your down payment, interest rate, and loan length, are you comfortable with what those monthly payments look like? Adjust your budget as necessary until you hit your sweet spot.
Tip 2: Clearly Define Your “Must-Haves” and “Like-to-Haves”
Balancing your needs and wants is tricky in any buying situation, but can quickly become overwhelming when you’re searching for a home. Think about your lifestyle essentials to determine exactly what you need in a home. This typically includes things like “three bedrooms,” “two bathrooms,” and “10 miles from Downtown.” These are your deal breakers.
“Like-to-haves” aka wants are nice to have in your potential home, but not deal breakers. These are things like walk-in showers, finished “man caves,” and farmhouse-style sinks.
Tip 3: Carefully Research Local Neighborhoods
In addition to finding a home that’s the right fit, you want to make sure the neighborhood has everything you need. Do some research to make sure any particular community has the amenities, features, and location that you need in a home.
We can help with that!
Tip 4: Stick to One Type of House
Would you like one level of living (a ranch-style home) or something more like a Cap Cod with bedrooms on multiple levels? Assess your needs and narrow down your housing preferences to one specific style.
This will make it easier to find homes that meet your needs in the greater Raleigh area!
Tip 5: Write Everything Down and Take Pictures
As you tour multiple homes in Raleigh, document every visit so you can go back to them later! Jot down notes on your smart phone or a notebook as you walk around, and try to take pictures of things that you like and dislike.
Having thorough documentation will make it easier to sit down and make a decision—especially if you’re considering more than one home!
Tip 6: Work with a Professional REALTOR®
Having the right real estate agent on your side makes all the difference. If you’re searching for your dream home in the greater Raleigh area, then it’s time to call Linda Craft.
Linda Craft & Team REALTORS® are an award-winning team of real estate professionals serving Raleigh and the greater Triangle area. We have plenty of resources for you to choose from to help make your home search as easy as possible.