Buying a home can be a very exciting time in your life, but let’s be honest, it can also be very stressful. There are many factors involved, and some can even prevent you from getting the home of your dreams.

Whether you’re looking to purchase your first home or already have the home buying experience under your belt, you can make the process of buying a home easier by doing a few things ahead of time.

 Our team of experienced realtors have compiled their top recommendations on steps you can take now, in order to make your home buying experience easier when you’re ready. 

1. Gather & Organize Appropriate Paperwork

Before you even begin looking for a new home, you should know where you stand financially. 

It is important to know your credit score and if necessary, work on improving it. You may need to tackle any outstanding debts, or pay off credit cards – and this could take some time. 

 Expert Tip: Create a savings account for your down payment, if you haven’t already. You want your financial picture to be ideal before any mortgage company peeks at it.

 2. Set a Budget

Once your finances are organized and in order, you should have a good understanding of what you can afford to buy. A general rule of thumb for home buyers is to set your ideal budget at about three to five times your annual income, and have a down payment ranging from 3.5% for FHA or VA loan, to 20% for more conventional loans.  A 20% down payment will help you avoid the PMI fee (Private Mortgage Insurance) which can be pretty expensive. 

 3. Make a Wish List

When it comes to home buying, it is very helpful to have a wish list created before you start your home search – it could save you enormous amounts of time and stress.

The list should consider everyone in your household (including pets) and your lifestyle wants and needs. Common things to consider include: schools, community, convenience in location, privacy level, rooms, layouts, and turn-key condition… just to name a few. Organize your list from priority/need, to “nice to have”. 

 4. Research Loans 

Not all mortgages are created equal and it’s up to you to discover the best deal. Mortgage companies have options, but if you don’t know to ask about them, you could end up paying more interest than you should. Do your research to uncover better interest rates and lower fees to save money over time.

 5. Find Your Agent

Are you ready for the fun part? Once you find a Real Estate Agent (check out Chapel Hill Realty Group’s top notch Agents) that you trust and feel comfortable with, you can tour the homes that appeal to you until you find The One. Doing research in this area is key. It is important to have an experienced and knowledgeable agent, who can help you navigate each step – from negotiating an offer, to advising you about neighborhoods, appraisals, inspections and can help you navigate through the closing process.

Ready to start searching for a home? Find the latest listings that fit your qualifications in the Research Triangle area, with Chapel Hill Realty Group. Contact us online, or call (919) 942-4149 to set up an appointment with one of our experienced agents who has nothing but your best interest in mind, and will work with you until you find your dream home.