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The 5 Things Every Homebuyer Should Know

Dated: March 6 2024

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1. Understand Your Budget and Financing Options

Before you start looking for a home, it's crucial to know how much you can afford. This involves getting a clear picture of your finances, including your savings, income, and existing debts. Get pre-approved for a mortgage to better understand your budget.

2. The True Cost of Homeownership

Owning a home involves more than just mortgage payments. Be prepared for additional expenses such as property taxes, homeowners insurance, maintenance costs, and potentially homeowners association (HOA) fees. Factor these into your budget to avoid surprises.

3. Location, Location, Location

Location influences both your day-to-day life, the current, and future value of your home. Consider factors like proximity to work, schools, amenities, and the neighborhood's overall safety and appeal. Think about your long-term needs and how the area might change over time.

4. Home Inspection and Negotiations (once you are under contract)

A thorough home inspection is a critical step in the homebuying process. It can reveal hidden problems that could cost you down the line. Use the findings from the inspection to negotiate repairs or adjust the purchase price accordingly

5. The Long-Term Perspective

Buying a home is a significant investment, and it's essential to think about the future. Consider how the home will serve you in the future - will you use it as an investment property, add on to the property, or sell the home to purchase your next home. Regardless consider how home will fit your evolving needs.

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Kristen Dibble

A resident of North Carolina for over 30 years (a graduate of Chapel Hill High School & Appalachian State University) - Kristen is proud to have called Charlotte home for over 20 years. After nearl....

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The 5 Things Every Homebuyer Should Know

1. Understand Your Budget and Financing OptionsBefore you start looking for a home, it's crucial to know how much you can afford. This involves getting a clear picture of your finances, including

Read More