Answers to Your Home Buying Questions
Whether this is your first home purchase or your tenth, it's important to have a thorough knowledge of how to buy a home. Have a burning question about buying a home in the Wake Forest real estate market? Chances are, you're not alone! Continue reading to see what buyers are asking, and get answers to all of your questions and more! Have a question we didn't cover below? Please don't hesitate to give us a call.
Home Buying Frequently Asked Questions
Do I have to work with an agent to buy a home in Wake Forest?
While it's not explicitly required, you'll find that working with a real estate agent to purchase your home is well worth it! Your agent will be able to help you negotiate a better deal on the home you want to purchase, as well as streamline the entire transaction. The right agent will listen to you carefully, take notice of all your unique needs and circumstances, and then find you the perfect home for sale. They'll eliminate the stress from your transaction and likely save you time and money along the way.
What kind of mortgage should I use?
That depends on your unique financial situation. There are a wide variety of different mortgages out there, each custom-designed for different financial circumstances. When figuring out how you're going to pay for your home, we highly recommend meeting with a lender to get pre-approved for a mortgage. During the pre-approval process, you'll sit down with a bank lender to review your finances. The lending agent will go over every aspect of your finances, from your annual income to your debts and so much more, and then give you an estimate. That estimate is the amount of money the bank is willing to loan you.
Want to play around with your potential monthly mortgage payments? Use our free mortgage calculator!
What should I look for in a home?
Well, that depends on you! Before you start looking for homes, we recommend coming up with a list of your "must-have" features. This includes things like number of bedrooms, square footage, location, and design. Are you an empty-nester looking to downsize? Then you may want a single-story home in one of our awesome active adult communities! Is being close to the rest of the Triangle important to you? Then you'll want to live somewhere close to one of Wake Forest's major expressways.
Luckily, our easy-to-use home search tool makes it simple to find homes with exactly the features you're looking for.
Is a home inspection required for buying a home?
While not legally required, we strongly recommend getting a home inspection. Buying a home in Wake Forest is a huge financial decision, so it's important to do your due diligence before signing on the dotted line. A home inspections doesn't take very long, and will let you know if there are any major structural issues with the home! If something comes up during the home inspection, we can then negotiate with the seller to get it fixed.
Are there additional fees associated with buying a home?
Yes. Closing costs are a big part of buying a home, and you can expect them to total around 2-5% of your overall home purchase. Closing costs typically include the application fee for your mortgage loan, appraisal and inspection fees, attorney fees, homeowners insurance, title insurance, and other costs that go towards the paperwork, insurance, and inspection.
Resources for Buying a Home in Wake Forest, NC
Have any additional questions on buying a home in Wake Forest? Give me a call to get them answered, and discover all your real estate options in the greater Wake Forest, NC area.