1. Diversify your investments.

You’ll want to have a clear understanding of what you can afford when buying a home. You’ll want to consider the amount of money you bring in, your credit score, savings, and how much you have to put down on your home. Once you have an idea of what you feel comfortable spending it’s time get with a lender. (Click here to see our preferred list of lenders in the Raleigh and Durham North Carolina Area) Keep in mind that you’ll want to wait to inquire with a lender, because depending on who you choose they only lock in rates for up to 90-days. Locking in rates allows you to take advantage of low interest rates. Our Founder, Paulina, wants clients to remember to “marry the house and date the rate.” Meaning, don’t freak out about rising rates now, because you can consider refinance your home later down the road. However, there isn’t a guarantee that the home of your dreams will still be available.

2. Don’t over-leverage yourself.

This area can be a little tricky, because many of us have a laundry list of things we want in a home. Create a list of everything you want in your new home, then identify what is a necessity and non-negotiable. When you consider your necessities and what is non-negotiable, be sure that everything you need is within budget. If not, find a workaround by possibly tackling the project yourself after moving in. Consider the areas you’ll want to live in, what needs to be in close proximity, the schools in the area (if applicable), the type of outdoor space you prefer, and the features you would like to have in your home. Having this list will make finding the right properties for you a lot easier.

3. Do your homework before listening to paid advisors.

Finding the right agent to help you purchase your home isn’t an easy task, and know there are amazing agents that are very skilled in the industry and have your best interest at heart. Here at The Residential Advantage we take pride in guiding our clients and providing them with the information they need to make the best long-term real estate decisions.

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