How to Buy a Home in Cary
The first step in buying a home is to visit open houses. While a tour is a great way to get a feel for a neighborhood, make detailed notes of the homes you view. Taking pictures also helps you keep your memories fresh. Next, work with your real estate agent to determine a competitive offer price for each home you view. After selecting a competitive offer price, you can begin the application process.
Common closing costs
There are many fees associated with closing on a home. Closing costs can vary from property to property, and are largely dependent on where you live and what type of loan you get. Lenders are legally required to provide a loan estimate within three days of applying for one. But what happens if you find out later that the estimate is significantly different than you expected? You may want to consider getting a second opinion before you decide to go through with the deal.
While you may think that the home inspection is a seller-paid expense, you’re actually responsible for paying for it yourself. You’ll have to pay around $400 to $500 for an inspection, and the seller may waive the fee in your offer. If you don’t want to spend this much money, you can also ask the seller to waive the fee in your offer. In North Carolina, closing costs usually include a home inspection, but don’t include it in the price.
There are two main regions in Cary, North Carolina: West and South. Homes in West Cary are newer homes built within the past 10 years, while South Cary houses tend to be older homes built before 1996. Neither region has a large supply of new construction, which limits your options. There are condos, townhomes, and single-family homes for sale in each region. The choice is yours!
If you are looking for a home in Cary, NC, you can find plenty of luxury apartments and condominiums in Tryon Place. Tryon Place offers spacious interiors with luxury amenities, including nine-foot ceilings and crown molding. Kitchen islands feature granite countertops, and energy-efficient appliances. The community also offers a gym, dog park, and a playground. For those looking for a more urban environment, Tryon Place offers townhomes and condominiums that offer all the modern amenities you’ll need for daily living. Learn more about Moving to Cary here.
Common price ranges
While the price ranges for homes in the greater Raleigh area vary greatly, there are a few key areas in Cary where you can expect to see a good price range. Typically, homes in this area fall within the $1 million and $300,000 price ranges. While this range does not cover the cost of everything, it is still a good idea to shop around and get a good price for your property.
In general, Cary is a very affordable place to live, but if you have a limited budget, you might find it difficult to buy a house in this price range. The median list price for a home in Cary is $580,261. This figure includes the middle tier of homes that are priced between $300,000 and $500,000. This number is slightly higher than the national average, and the median home value in the city has increased by a whopping 35.9% since March 2022.
Considering moving to Cary? Here are some of the conditions you should consider. The population of Cary has grown by 25.4% over the last decade, so there is a high demand for housing in this area. However, starting with a healthy budget is essential. In January 2021, the average home value in Cary will be $356,400, which is 68% higher than the national average. Also, keep in mind that the majority of homeowners in Cary pay $3,000 or more in property taxes each year, making it necessary to have a healthy budget to begin your search.
The current market is competitive. Working with a real estate agent can help you find your dream home and negotiate an appropriate price. Top real estate agents in Cary sell homes faster than their competitors and close hundreds of transactions a year. These agents have a detailed knowledge of the local market and are able to make an informed decision for you. If you’re considering moving to Cary, be sure to get in touch with a real estate agent, as their expertise will be beneficial to your move.
Grants for first time home buyers
If you are considering buying a home, you may be eligible for government assistance, or “first-time home buyer grants”. If you’ve never owned a home, have a low credit score, or have been renting for at least three years, you can qualify for these grants. There are certain income requirements to qualify, but the application process is very similar for all three. First-time home buyers in Cary should review the following information to ensure they’re eligible.
A first-time buyer can qualify for a down payment assistance program that provides up to $10,000 toward the purchase price. In order to qualify, you must earn at least 80% of the median income in the area. The Wake County Equitable Housing and Community Development Division will deduct $5,000 from your loan every five years. To get the assistance you’ll need to attend a homeownership class. The program also requires that you take a class to obtain a homeownership certificate.