Everything You Need to Do to Buy a Home
Think of this as your to-do list for buying a home in Wayne County or the Triangle!
Step 1
Get Preapproved for a Loan to Set Your Budget
Sit down to set a budget right away. To make it a little easier on yourself, we highly recommend meeting with a mortgage lender to get pre-approved for a loan. The lender will review every inch of your finances before giving you an estimate and an interest rate: that's how much the bank is willing to lend you.
Consult your savings and your annual income to determine how much you can afford to spend on your mortgage every month. Our handy mortgage calculator can help! Keep in mind that additional costs like closing costs, fees, homeowners insurance, and taxes will all add to the overall costs.
Step 2
Research Home Prices in Your Area
Have a particular city or neighborhood you're interested in? Do some research to find out what the selling prices in those communities are—not just the listing prices. Let us know if you'd like help! We can connect you with valuable resources to research the market, including our neighborhood sold reports.
Step 3
Find the Right Agent
Your agent should be someone you know you can trust, an expert on real estate in your area and neighborhood, and very proficient in working with buyers of your experience. Take a look at our team page to learn more about how we do business, and how we can help you find the home of your dreams.
Step 4
Start Searching for Homes
This is the fun part, where you get to visit open houses, tour homes, make notes, and really hone in on your perfect dream home! Make sure you keep detailed records of the homes you visit, noting things you liked, didn't like, pros and cons, etc. Taking pictures can also keep your memory fresh.
Step 5
Make an Offer
When you find your favorite home, work with your agent to determine a competitive but reasonable offering price. You'll want to choose a number that is comfortably within your price range but competitive enough that it won't cause the seller to immediately reject your offer.
Step 6
Get an Inspection
This is a crucial part of the home-buying process. Nothing's finalized yet, so make sure you're getting your money's worth! Ask your real estate agent to recommend a trusted home inspector to walk through the house and check for any potential defects or problems. If necessary, you can request that the seller repair any issues you find.
Step 7
Perform Due Diligence
This includes the home inspection we just talked about, as well as making sure you have all your ducks in order and are ready to actually purchase the home. Your lender will want to get the home properly appraised before finalizing your mortgage loan, in order to make sure the property is a worthwhile investment.
Step 8
Review Your Paperwork
Before you sign any paperwork, it's important that you carefully read over the contract with your agent or lawyer to ensure there are contingencies - that is, if something falls through with your mortgage, you aren't still obligated to buy the home.
Step 9
Sign & Close
It's time to close! Meet with your agent, lender, and the seller to finalize the paperwork, sign your contracts, and pay your down payment and closing costs. Finally - the keys to your new home!
Ready to Buy a Home in the Triangle or Wayne County?
If you're thinking of buying a home in the Triangle or Wayne County, then it's time to contact Stonedale Realty Group. We're here to help make the process as seamless and stress-free as can be!