Buying a home in the Carolinas is an exciting and sometimes complex adventure. It can also be a very time consuming and costly one if you're not familiar with all aspects of the process, and don't have all the best information and resources at hand.
That is why you need a REALTOR!
As a Buyer's Agent, one of my specialties is representing the best interests of the Charlotte, NC area buyers throughout the home buying process. My comprehensive, high-quality services can save you time and money, as well as make the experience more enjoyable and less stressful.
HOW DO I SELECT THE RIGHT REAL ESTATE AGENT?
If you're like most people, buying a home is the biggest investment you will ever make. So whether you're buying a starter home, your dream home or an investment property; why not take advantage of my experience as a local market expert for North Carolina Counties: Cabarrus, Gaston, Iredell, Mecklenburg, Rowan, and Union and South Carolina Counties: Lancaster and York. I will help you make the most informed decisions you can, every step of the way!
Here are the top 10 things to know before you buy a new home:
1. Get your credit in order first.
Most people need to take out a mortgage to buy a new home. And since a mortgage is a loan, you must make sure your credit history is as clean as possible. Before looking at homes in the Charlotte area, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.
2. Don't buy a new house unless you plan to stay 3 years or more.
If you don't believe you will be staying in one home for at least a three years, then owning a new house is probably not for you. The cost of buying and selling a home is an expense, and you may end up losing money if you sell any sooner.
3. Just because you qualify for a mortgage with the bank - doesn't mean you can afford the house.
Too often, people buy houses at the maximum amout that they qulaify. Consider all of your expenses, debts, and income carefully.
4. Seek professional help.
The Internet will give you access to updated home listings, but having an exclusive buyer agent, will guarantee that your interests are being looked after, and that you are prepared during the bidding process.
5. Even if you don't have kids -- look at the school system.
In Charlotte, the schools are a top priority for many home buyers, so even if you don't have children, look at the school system, because it will boost property values for later resale.
6. Put some money down.
Putting any money down will help lower your rates and potentially the term of your mortgage, but don't worry if you can't put down the traditional 20%. Many lenders will be able to work with you. Ask your Buyer's Agent for their recommendations.
7. Choose carefully between points and rate.
When choosing a mortgage, you will usually have the option of paying additional points, (a portion of the interest that you pay at closing) in exchange for a lower interest rate. If you stay in the house for a five to seven years (or more) -- it is usually better to take the points. The lower interest rate will save you more over the long haul.
8. Get pre-approved
Getting pre-approved will allow you to focus on the homes in Charlotte that you can afford, and it will give you a better position to make a serious offer when you do find the right home.
9. Hire a home inspector.
Your lender will require a home appraisal, however that's just the bank's check of whether the house is worth the price you've agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.
10. Bid smart.
Your opening bid on a house should be based on the sales price of similar homes in the neighborhood, and that house's unique set of characteristics. Before bidding consider sales of similar homes in the past several months. Your buyer's agent will be able to assist you in making a competetive and appropriate bid.
The following articles provide useful information and are a great place to start if you're considering buying a home.
|How to choose a Neighborhood for Your Home Search||Why use a Realtor When Buying a Home?|
|How to Choose a Home||Home Inspections Avert Future Headaches|
|Take Charge When Buying a Home||The Basics of Making an Offer|
Rich Ferretti - Realtor in the Charlotte NC and surrounding SC area. Specializing in: new construction and resale homes in North Carolina and South Carolina. Here is just some of the information a realtor can help you with:
Types of Charlotte area homes available:
- country club homes
- swim and tennis communities
- gated communities
- luxury homes
- lake and lakeside
- lakeview homes
- waterfront homes
- golf communities
- executive homes
Contact Rich for more information on:
- Charlotte area school districts and community information
- Things to do in Charlotte North Carolina
- Charlotte area events and festivals
- Charlotte new construction
- Charlotte, NC area economy
- Charlotte area restaurants
Popular Charlotte, NC area eighborhoods
- Southpark - Charlotte NC’s Southpark is at the heart of South Charlotte. Southpark, is South of Myers Park, and has even been considered Charlotte’s second downtown. Southpark is the 4th largest business district in the state of NC, and home to the city’s best shopping, and some of extraordinary homes.
- Ballantyne - Ballantyne, is a popular and new area South of Uptown Charlotte (also known as New South Charlotte). At the center of the Ballantyne region is a large planned community designed for "live, work and play". Beautiful Ballantyne includes meticulously designed and maintained streetscapes, upscale shopping centers and a variety of high-quality housing. Real estate in this area is plentiful and includes many options from country club homes to condominiums. Most of the Ballantyne subdivisions cater to an active lifestyle as the neighborhoods and are surrounded by community golf courses, tennis and swimming receation centers. Ballantyne has a convenient location within the metro area of Charlotte and just minutes away from Uptown.
- Dilworth - Dilworth is a neighborhood of Charlotte, North Carolina found south of Uptown. The Dilworth neighborhood was Charlotte's first streetcar suburb and was established by Edward Dilworth Latta in the 1890s, just southwest of the original Charlotte city limits.The beautiful streets of Dilworth feature stately, mature oak trees, nice sidewalks, and houses with front porches. The homes in Dilworth are primarily bungalows, (with the occasional Queen Anne) and some larger, two-story Colonial Revival homes lining Dilworth Road. East Boulevard in Dilworth serves as the main street and is lined with restaurants, offices and shops, many located in renovated homes. Charlotte’s largest hospital, Carolinas Medical Center is aloso located in Dilworth.
- Uptown Charlotte - Charlotte center city (also known as Uptown or Downtown Charlotte) is home to approximately 10,000 people. Also, many museums, hotels, sporting venues, restaurants, and bars are heavily concentrated in Uptown/Downtown."Uptown Charlotte" includes the township and original city of Charlotte, North Carolina, and is in Mecklenburg County. The Charlotte area is broken down into four wards: First, Third, and Fourth Wards have residential areas, and The Second Ward is made up primarily of city and county government offices. Uptown or Downtown is where Charlotte's business sector is located, home mostly to banking and other financial service industries. Charlotte is the headquarters for the Fortune 500 companies: Bank of America, Duke Energy, and Wachovia.
- Cotswold - The Cotswold neighborhood of is right near a large shopping center, Cotswold Village Shops, located at the intersection of Randolph and Sharon Amity Roads. Originally known as Cotswold Mall, Cotswold Village Shops it was Charlotte's first suburban mall. Cotswold is emerging as one of the nicer areas for living and shopping with close proximity to Uptown Charlotte. Many 1950's and 1960's homes are being remodeled and sold in this area Cotswold is nearby Echo Hills, Grier Heights, Myers Park, Oakhurst, Providence Park, Sherwood Forest, and Wendover/Sedgewood. The neighborhood has many shopping and dining options, and is very popular.
- Sun City - Located in Lancaster County, S.C., on Highway 521, Sun City Carolina Lakes is just 5.5 miles south of the North Carolina state line and just minutes from Charlotte’s shopping, dining, pro sports, and nightlife.
Charlotte area counties include:
- mecklenburg county
- union county
- cabarrus county
- gaston county
- iredell county
- york county
Charlotte area Towns and Cities:
- mint hill
- indian trail
- lake norman