Once again, statistics place North Carolina among the top five fastest-growing states in the US during 2020.
Lovely scenery, a stable economy, and mild weather are the top drawcards for those who choose to make the move. As a result, homes are selling like hotcakes in this part of the world.
So, if you’re considering joining the masses migrating to the Tar Heel State, you need to move fast. Here’s what you need to know about buying homes in North Carolina.
1. The Cost of Homes in North Carolina
Despite the boom in real estate, North Carolina has one of the most affordable big city real estate markets in the US. Even outside the cities, home prices across the board are lower than the national average.
Thanks to this affordability, luxury homes in North Carolina are selling at unprecedented rates.
If you want to rent your accommodation while you search for your ideal home, you can expect to pay between $200 and $400 less per month than the national average.
2. Speeding Up the Home Buying Process
The best way to compete in this burgeoning market is by arranging pre-qualification and pre-approval on your mortgage. That way, not only do you know how much you can afford, but you’ll also have a head start on other buyers.
There’s fierce competition for North Carolina lake homes and other sought-after properties, so you don’t want to waste time waiting for mortgage approval.
3. Keep Tabs on Resale Values
There’s a shortage of new homes in North Carolina, so you’re bound to profit if you’re selling a home in this state right now. Yet, this boom can’t last forever, so consider the future desirability of properties before you buy.
Homes in good neighborhoods, with easy access to amenities and schools, always attract more buyers and higher prices.
4. Location Is Everything
Proximity to schools and shops isn’t everything when it comes to buying a home. Spend some time in different neighborhoods so you can observe noise levels, traffic flow at different times, and get a sense of the general vibe.
It’s also important to take your daily commute into account, you don’t want to spend hours traveling to work every day.
5. Is North Carolina a Good Fit For You?
If you detest cold weather, North Carolina’s a good fit for you. The state boasts subtropical, humid weather with short, mild winters. Although coastal destinations boast a more moderate climate, you can expect storms and hurricanes in these areas at times.
Another important thing to consider is the cost of living in North Carolina, the state is mostly in line with the average cost of living nationally, but you can discover more here about this vital aspect.
You should also consider things like culture and the variety of things to do in North Carolina. It’s a state where barbecues are a way of life and outdoor adventures top the list of preferred activities.
Get the Help You Need
When you’re considering your options for buying homes in North Carolina, it’s vital to work with an experienced realtor. These experts can guide you through the process, advise on how to best get a home inspection, and help you find your ideal house.
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