10 Steps to Buying a Home

10 Steps to Buying a Home

Thinking of buying a home in The Triangle? Make sure you know what to expect - whether you're a first-time buyer or a real estate aficionado. Here are the steps you need to know for buying a home.

Step 1: Figure Out What You Can Afford

Determine what you'll be able to afford in mortgage payments each month, as well as what you can invest initially as a down payment. This handy mortgage calculator can help you estimate your monthly payments.

Keep in mind additional costs like closing costs, fees, homeowners insurance, and taxes will all add to the overall costs. Be sure to check your credit score, and remember that just because you don't have a 20% down payment doesn't mean you can't buy a home!

Step 2: Shop for a Loan and Get Preapproved

Finding a trustworthy lender and determining what type of loan you'll qualify for will help you figure out how much home you can actually afford. Get recommendations, check with the Better Business Bureau, and be sure to talk to at least two lenders before making a decision.

Need recommendations for qualified lenders in The Triangle? Just ask us!

Step 3: Determine the Selling Price of Homes in Your Location

If you have a preferred location or neighborhood, find out the actual selling price of homes in that area - not just their listing price - to confirm whether you can actually afford that location.

Step 4: Find an Agent

You don’t have to work with an agent - but it is extremely recommended unless you are a highly experienced buyer or lawyer. Your agent should be someone you can trust, an expert on real estate in your area and neighborhood, and very proficient in working with buyers of your experience level.

Looking for an agent in The Triangle? Find out more about our experience; and how we can help you buy a home!

Step 5: Find Your Home

This is the fun part, where you get to visit open houses, tour homes, make notes, and really hone in on your dream home! Make sure you keep records of the homes you visit, noting things you liked, didn't like, pros and cons, etc. Looking back through the listing pictures can also keep your memory fresh.

Ready to buy a home in The Triangle? Start searching for your dream home today!

Step 6: Make an Offer

When you find the right home, work with your agent to determine a competitive but reasonable offer 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. In addition to the offer price, make sure your agent explains the other offer terms you are making.

Step 7: Review Your Contract

Once your offer is accepted, it's important that your agent explain all the terms of the agreed-upon contract and keeps the process on track within contractual deadlines.

Step 8: Get an Inspection 

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 9: Finalize Your Mortgage Approval

Work with your chosen lender to submit your mortgage application, review predicted closing costs, and have your home appraised. Common closing costs include attorney fees, title insurance, appraisal fees, home inspection fees, courier fees, government recording fees, and taxes.

Step 10: Close and Pay

It's time to close! Meet with your agent and closing attorney make your final payment, sign your closing documents, and get the keys to your new home!

Still Have Questions or Ready to Get Started?

If you're thinking of buying a home in The Triangle, it's time to contact Zies Realty Group. We're your local real estate experts. Not only can we answer all your buying questions, we can help connect you with the resources you need to make an informed decision so you're sure to find your dream home at just the right price. Take a look at some of the home buying resources we have to offer.



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