11 Things to Consider When Buying a Home in Raleigh NC

Buying a House in Raleigh, NC? What you Must Consider:

If you're buying a home in Raleigh, NC there are things you must consider BEFORE you start searching for homes for sale in Raleigh.

One of the largest reasons some buyers walk away from a home purchase feeling remorseful is because they don't consider everything about purchasing real estate before they jump into it. There are common buyer mistakes we address with all of our buyers upfront so they have a highly successful transaction. One thing that many folks don't want to do is put in the upfront work, studying, and preparation that goes into buying a house. You need to prioritize your needs and your wants, and if you have a partner, you need to communicate with them on everything. Maybe one person is ready to buy, and the other isn't yet.

Recently, we wrote an article on 10 simple steps to buying a home in Raleigh, NC, and one for Huliq.com, in which we tackled some of the common things buyers must consider. We wanted to address this important topic with our local audience here in Raleigh, NC. We are going to take it all a step further and break everything down by buyer type to help specific sets of homebuyers.

Without further ado, here's what you must consider when buying a home in Raleigh!

Location in the Raleigh Area

Location is by far the most essential part of buying real estate. You can change the conditions; you can change the price, but you can't change the location of a house. If there is one thing a buyer should never sacrifice, it is location. The location of a house will have the most significant impact on its price and potential future appreciation.

One analogy we use to demonstrate how vital location is this: If you take the least expensive home in the world and you put it in downtown New York City, it is worth millions.

If you start shopping for homes for sale in all different locations, you'll never build a proper frame of reference to understand what constitutes a great, good, and lousy deal. You want to become an expert in a certain area so that when it comes time to make an offer, you can do so with conviction and confidence.

Searching homes for sale? Check out these great cities in the Raleigh area!

School Districts

There are so many great schools in Raleigh and around the Wake County area that it is a great place to search for homes if you're looking to buy with children. It is also an important step for those without children since a top-performing school district is likely to influence the price of a home and its appreciation.

Buying real estate in a good school district makes it a lot easier when it comes time to sell your house in the future. Whether you're looking to downgrade as an empty nester or upgrade into a larger home to support your family, a top school district is a big-time selling point in real estate.

If you buy in a lousy school district, you run a greater risk of your home depreciating because you appeal to a much smaller buyer pool.

Neighborhoods

The neighborhoods in the Raleigh area will play a large part in your home search. We recommend that our buyers focus on specific neighborhoods rather than cities or larger areas. The neighborhood you live in is going to have a direct impact on you. What are you looking for in a neighborhood? Address this question early in the home buying process because buying in the wrong neighborhood is a surefire way to be remorseful about purchasing a house.

There are a ton of great neighborhoods in the Raleigh area such as Glenwood, North Hills, Oakwood, Downtown Raleigh, NC STATE, and more!

Visit the Home During Rush Hour

If you're going to buy a house, it makes a lot of sense to make sure that rush hour traffic isn't unbearable. The last thing you want is to buy a home and find out that you're going to be sitting in heavy traffic every day. Time is more valuable than money. You don't want to spend your time in traffic—I know I don't. You want to spend your time doing more important things, like spending time with your family.

We always recommend our buyers check out the commute to and from work on different days to make sure it's something they are comfortable with. They should also check out the public transportation options in Raleigh. 

Ignore Paint and Landscaping

When looking at homes, you should seriously consider ignoring paint and landscaping. These two items are easy to fix and should not impact your decision-making when purchasing a house. If the home has a terrific location and the paint/landscaping is poor, you shouldn't rule it out. You have to be able to envision what the house will look like when you move in and make changes.

Many times, buyers will not be able to overlook paint or landscaping, which allows others who know how easy it is to fix. 

You can't change location; paint and landscaping are something you can.

Home inspections

This should be a necessity for anyone buying real estate. You don't want to buy a home with a crack in the foundation or a need for a new roof. A home inspection can spot these and other problems with the house, giving you far more negotiating power and a reasonable idea of what to expect in terms of future expenses.

When I bought my house in Downtown Raleigh, NC, the home inspector found that the HVAC had issues. He recommended that I call an HVAC specialist, so I did. The HVAC was shot. The sellers paid for an entirely new HVAC, which means my $400 home inspection netted me well over $5,000. Not a bad insurance policy!

Storage Space

What type of storage space does the estate have? Is it a luxury home with plenty of space, or will it be a tight squeeze when you move all your stuff in? As you begin your home search, you must set proper expectations for how much room you'll need.

There will be times when you can create more space through proper organization and utilizing it efficiently. Some homes just won't allow you to store much stuff because there is no attic or basement, and the storage closet outside is relatively small.

This is why storage space is one of the things you must consider when buying a house in the Raleigh, North Carolina area.

First Time Home Buyers

Did you know that the largest buying pool is first-time homebuyers?

There are a lot of great programs and benefits for a First Time Home Buyer in Raleigh, NC, that can save you up to $2,000/yr in tax credits or thousands of dollars, that you won't have to pay back if you qualify! The link above will allow you to explore the eligibility requirements as a first-time homebuyer.

Millennial attraction to homeownership has grown significantly in recent decades. This is mostly because there are now options where a 20% down payment is not required. This gives a much larger pool of buyers the ability to buy a home, especially first-time homebuyers who receive a lot of help!

Buying New Construction Homes vs. Resale

There are many differences between buying a new construction property vs. a resale home. If you're shopping for new construction homes in Raleigh, there are 11 tips you should be aware of during the buying process!

New homes have many added features that a resale property may not (depending on age) and should require much less maintenance. Recently, we have had clients buy new construction properties in Fuquay-Varina, Holly Springs, and Raleigh, NC. There are many different builders that develop Real Estate in Wake County, so make sure you find a great one! New construction homes are great for anyone who wants the assurance that they are the only ones to live in the home.

HOA vs. NO HOA when Buying a House

Whether you want an HOA, don't want an HOA, or are unsure, there are questions you will need to ask yourself right off the bat!

The main difference between having an HOA is that you will pay a monthly fee to the homeowner's association, providing things like yard work, exterior maintenance, keeping the roads clean, and maybe amenities like a golf course, swimming pool, or tennis courts. It's important to note that not all HOAs are the same, and some will do very different things than others.

If you buy a house with an HOA, you'll need to make sure you budget for it and can play by the rules. Some HOAs will not allow you to do certain things you may enjoy, which you could otherwise do without an HOA - so make sure you know what you're getting into before buying a home.

Regarding a house or townhome, there are two big questions buyers need to ask themselves: 'Do I want the responsibility of yard work and property maintenance?' and 'Do I want the rules that come with an HOA? Aside from those, there are questions buyers will want to consider, such as noise and neighbors.

Buying Real Estate in Raleigh, NC

With so many options available for buyers today, low interest rates, and down payment assistance, buying a home has never been easier! The days of needing a 20% downpayment are long gone, making it an exceptional time to start investing in real estate at a young age.

Want to work with us? We'd love to hear from you! Contact us