For Buyers: Advice for a Successful Real Estate Transaction – Part 1
Buying a home is often the single largest financial transaction most people will make in their lives. Doesn’t it make sense, then, to be proactive and informed so that your home purchase transaction goes as smoothly as possible? Here are a few tips to help you get started buying real estate in Cary NC.
First, make a firm, well-informed decision to buy. While this decision may seem self-evident, there are a number of important factors to consider, not the least of which is financing. Put another way, decide how much house you can comfortably afford. A good general rule is that your monthly mortgage payment shouldn’t exceed 1/3 of your monthly income. Another critical part of the decision to buy is to establish some requirements, such as number of bedrooms, number of baths, lot size, etc. Never forget, though, that your requirements should never exceed what you can afford.
Next, contact a professional realtor. With your requirements in hand, talk to a realtor. Realtors are in close touch with both the market for real estate in Cary, North Carolina and mortgage market. One of the most valuable services a realtor can perform is to help you pre-qualify for a mortgage. This enables you to know exactly how much house you can afford and signals sellers that you’re a serious buyer. Realtors are also a wealth of information about neighborhoods, school systems, shopping districts, taxes, cost of living and a host of other factors that may effect your buying decision. Finally, a realtor can advise you on how market trends will effect the value of your home in the future.