September 18, 2018
North Carolina is one of the most popular places in the country to live, with Raleigh recently ranking in at number two on Zillow’s “Hottest Housing Markets for 2018” list. Buying a home in the Raleigh-Durham is area is an exciting undertaking and a wise investment, but the process can also feel overwhelming and stressful for those who don’t have any prior experience in purchasing a property. Below are a few things that every home buyer should do before buying a house in Raleigh and Durham, NC.
1. Consider the Market
It’s no secret that Raleigh-Durham is a desirable place to live, but it’s still wise to do your research. Make sure the area is conducive to your particular educational background and career field because living in a beautiful area like Raleigh won’t do you any good without a nearby job to help pay the bills. Research local schools if you have or are planning to raise a family, and look into the surrounding community, culture, and lifestyle to make sure it’s a good fit. Raleigh-Durham and the neighboring suburbs are known as a fun, family-friendly place to live with plenty of things to keep you busy and entertained, so the fact that you’re considering the area is already a great start.
2. Thoroughly Research Your Real Estate Agent
If you’re in the market for a home, you’ve probably been doing a lot of browsing online, checking out various listings, requesting more information, and attending open houses. That means that multiple real estate agents have your contact information and will be vying for your business. Don’t just pick the first one you see! Choosing your real estate agent is an incredibly important step. A knowledgeable agent goes a long way toward helping you find the house that’s right for you, getting you the best possible deal by using their experience to negotiate, recommending the various other experts you’ll need throughout the process like a mortgage representative, home inspector, Raleigh electrician, and more. These days, it seems like everyone likes to dabble in real estate, but not everyone is a real expert. Don’t be afraid to ask questions and “interview” a few agents before making your choice.
3. Determine Your Budget
Once you have an agent, they can likely refer you to a reliable and experienced mortgage broker, who will review your financial information and help you determine how much house you can afford. However, just because you’re pre-approved to spend a certain amount on a home doesn’t mean you should pay that much, or that you’re even capable of doing so. Factor in all of your other expenses to come up with a realistic monthly number than you can comfortably put toward your mortgage. It’s important not to spend beyond your means, or you’ll end up living paycheck to paycheck with little to no money left to tuck away in savings, or to use for entertainment or emergencies.
4. Get a Comprehensive Home Inspection
Getting a home inspection is strongly encouraged (or required) when obtaining a conventional mortgage, but not all inspections or inspectors are created equal. Some home inspectors just give a house a superficial once-over, looking at obvious things like the foundation and roof and looking for evident problems like leaks and mold. Read reviews to find a home inspector who will do a thorough check that also includes the home’s plumbing and electrical systems. Having a Raleigh electrician check the electrical panel, circuit breaker, and receptacles and outlets is extremely important. In many cases, outlets are wired incorrectly or don’t have the proper ground fault circuit interrupters, which not only falls short of Raleigh and Durham home codes but can also be dangerous. Looking for these types of electrical problems is not something you or your real estate agent can DIY. That’s why bringing in an experienced home inspector or electrician is a good idea to make sure you have all of your T’s crossed and I’s dotted before making an official offer on the home.
Contact CMC Electric for Your Home Electrical Inspection
Whether you need a trusted and reliable Raleigh electrician to look over a property before you buy it, or to make repairs or electrical installations after you purchase your new Raleigh-Durham home, you need to talk to CMC Electric first. CMC Electric is one of North Carolina’s most reputable and reliable electric companies and is always happy to help with whatever you need. From ceiling fan installation to backup generator installation, CMC has you covered for all the electrical needs of your new house in Raleigh.