First-Time Homebuyer Tips for Charlotte, NC

More and more millennials in Charlotte are starting to become first-time home-buyers, rather than waiting for a better time into the future.  What they don’t always realize – and are pleasantly surprised by once they do – is that buying a Charlotte home is within their reach.  The median price for a Charlotte home is at $134,000, which equates to a monthly mortgage that can actually be cheaper than renting! 

With so many listings to be found in all of Charlotte’s top neighborhoods and suburbs, first-time buyers can benefit from these 5 tips for greatest success when buying a Charlotte home:

1. Get pre-approved for a home loan. 

It’s a time-saving step that will let you know what you can afford so you can be sure to look at Charlotte homes for sale within your budget.

2. Enlist the help of a real estate agent. 

Having a professional will be to your advantage when looking at homes that fit your criteria, and may very well be in neighborhoods you might not have otherwise considered.  But it’s worth it if the end result is that you’ve found a home you love.

3. Include an earnest money deposit as part of your offer, as a sign of good faith. 

While it may vary, earnest money can range anywhere from two hundred to as much as a few thousand dollars, depending on the home and the number of other interested bidders involved.  

4. Once your offer has been accepted, have the home inspected and appraised. 

That way, if any issues come up that need to be repaired, you may be able to negotiate with the seller to have the final price adjusted.

5. Prepare for closing on the house and have the necessary funds available. 

Closing costs in Charlotte can be 2-5% of the purchase price on a home, so plan accordingly.  There are fees for title insurance, loan processing, opening an escrow account, and paying for homeowners insurance in addition to your down payment.

Nancy Braun, host and owner of Showcase Realty is joined by Wes Pruitt with Reliance First Capital; Ashley Fomen and Heather Hamilton, Millennials who recently purchased their own home, along with their respective real estate agents.  Listen to this episode and learn how these Millennials were able to successfully purchase a their own home.

Buying a Home in the Charlotte Metro Area

Are you buying a Charlotte home for the first time?  Don’t let the process deter you from making the move! 

With the strong market and many Charlotte homes for sale, now is a great time to purchase a home as an investment toward your future. 

Get the help you deserve by turning to the expertise of Showcase Realty.  With our advanced knowledge of the Charlotte area, we’ll show you homes that take your lifestyle into consideration, to better match you with the home of your dreams. Whether you are looking for a shorter commute by living in  a condo in Uptown or a bungalow in Dilworth, or desire a family-friendly neighborhood that’s close to any of the top-performing schools in Charlotte-Mecklenburg  county, our Showcase Realty team can point you in the right direction. 

Give us a call today at 704-997-3794 or send us a message here.  We look forward to serving you.

Get a free copy of our homebuyer's guide today to get you started! CLICK HERE.