Home Insurance Raleigh

Home Buying Checklist: Prepare for Your Next Step

If you are buying a home in North Carolina you might be experiencing a whirlwind of emotions — after all, buying a home is one of the most exciting purchases you will make in your life! However, buying a home isn’t all fun and games–there are many things you should do before, during, and immediately after your home purchase. Check out our home buying checklist below to make sure you do things right the first time so you can enjoy your new home instead of stressing over it.

Get Your Finances in Order

Before you even think about purchasing a home it is important to assess your finances to ensure you are making a sound financial decision when you buy a house. Make sure that you have enough saved to cover a down payment, closing costs, and other expenses that come with buying a home, as well as some savings in reserve for unexpected costs. Also, make sure that your debt is manageable before you approach a lender and take your credit score into account. Keeping these in mind will help you achieve the best possible interest rate.

Research Mortgage Options

Now that your finances are in order, you’ll be able to start researching different mortgage options to find the one that might be right for you. Don’t settle for the first mortgage product offered. Check products offered by agencies like HUD, USDA, VA, or the NC Housing Finance Agency as well as private lenders to see what works best for you.

Make a Wish List

Choosing the right home for you will be much easier if you have an idea of what you are looking for. Before you begin the house hunting process make a list of what you need and want in a home. How many bedrooms do you need? How about bathrooms? Answer these and other questions so you have a general guideline of what you need. This will help tremendously when it comes time to make a decision!

Get Pre-Approved

Once you are ready to start looking for a home to buy, go to your lender to get pre-approved. A pre-approved buyer is much more attractive to sellers and it will provide you with a guideline for what your budget might be. But beware–just because you are approved for a certain amount doesn’t mean that should be your budget. Think about the payment that you know you can afford and stick with that number instead.

Find a Real Estate Agent

Now it’s time to find a real estate agent to help you find your home! Generally, you should look for an agent who has experience in the area you want to live.  The agent should have a good track record and can provide favorable recommendations from past clients. Your agent can be your best ally throughout the home-buying process.

Make an Offer

Once you have found the home that you want to call your own you are ready to make an offer! Your real estate agent can help advise you throughout this process. It is a good idea to hire an attorney to help you with negotiations and the paperwork.

Get an Inspection

Before you sign a contract, get a proper inspection that will alert you of any defects or damages. It is always a good idea to make your offer contingent on the results of a professional inspection.

Find a Local Home Insurance Agent

Once you have officially purchased your home, one of the most logical next steps is to ensure that you have a quality homeowners insurance policy to protect your investment and help you with any unexpected problems while you own the home. Many first time home buyers wonder, “How much is homeowners insurance?” This is more of a loaded question than it appears. We recommend talking to our agents at Carolina Insurance Professionals for advice about what is covered in your policy. This will to protect against unpleasant surprises down the road. If you’re looking for home insurance in NC, get free homeowners insurance quotes, from the professionals at Carolina Insurance Professionals today! We want to make sure you get the best homeowners insurance for your situation.