Before you choose a home in Charlotte, there are a few things that you might want to consider. Any home in Charlotte, NC is a significant investment, but certain investments are much better than others. Nancy Braun and our team at Showcase Realty can help you make sure you end up with the perfect home for you.
There are many options available in Charlotte’s housing market, but how do you know which one is for you? Even if you already have an idea of what you might want, here are some of the things you’ll want to consider when buying your first home in Charlotte, NC:
- Property age
- And many more!
So if you’re willing to know more and find out how to get the best home deal for you, read on to see what you need to consider before choosing your first home!
What Factors Would You Consider When You Are Ready to Purchase Your First Home?
Some of these factors might already be at the top of your list, but you might not have thought entirely of others yet. To help you with your house-hunting process, here’s a list of the factors you should consider when purchasing a home:
1. The Lot and Size
Most of the time, people treat the actual property the home sits on as an afterthought. Meanwhile, it should be one of the first things to consider. This is because the lot cannot be altered or changed, even if you renovate the house, knock down a few of its parts, or make an addition. The lot will always be your limit and the area you personally own.
When looking at properties, try to consider the lot as well. Make a note of where and how it is located, as well as its size, before you submit an offer. Relate it to your personal situation, whether you live alone, plan to raise a family, or have other plans in mind.
It seems like a minor detail, but sometimes, the size of your lot can be the dealbreaker for specific reasons. If a house fits a large majority of your standards, but the entire property falls short of what you need (size, location, etc.), then you might need to keep hunting for a house that suits you more.
2. Location of the House
You likely already know where you might want to buy a house. Whether this is in Charlotte specifically, in North Carolina, or anywhere else, location is your most important factor to think about. Not only in terms of accessibility or preference, but your home’s value appreciation, convenience, desirability, and more.
You might find a perfect house, but its surroundings might be less than that.
Some neighborhoods will have everything right at your fingertips, such as coffee shops, public spaces, or good local restaurants. Some properties will be better suited to walking, and some will be more suited to cars as transportation. It’s best to do research beforehand and let your real estate agent know what you prefer. Any information on a specific topic like this can narrow your options by a significant portion.
3. Space and How Much There Is
How much are you bringing with you when you move? Space is one of the things that many fail to consider when they’re looking at homes. House hunters may think they’ve sized up a home and how spacious it is. Unless they’ve taken the time to get the exact measurements, though, they can make mistakes.
How much space you need depends on your lifestyle if you’re house hunting. Some people tend to have fewer items than others. Still, it’s better to be on the safe side and ensure that you have more than enough space available.
Take a good walk around the house. Determine if each room has enough space for what you plan to put in it. You might be planning to buy more furniture, a step that can be finalized if you think the house you’re looking at is the best pick for you. Proper storage is a great advantage to any new homeowner.
4. Large Features and Amenities
Most people already know what they want in terms of rooms and amenities. How many bedrooms they’d like, the number of bathrooms, the inclusion of a dining room, and the size of the kitchen. Other preferred amenities could be energy-efficient features, accessible entrances, smart technology, and the like.
These might not matter as much to other people, but the presence of certain features can add more value to a home than most. Even if some amenities can be added later, it can be more expensive than buying a house with the features you want already installed.
5. Energy Efficiency
An energy-efficient home can be one of the main priorities among today’s first-time buyers. Energy efficiency means that utility bills can be limited and maintained at lower prices, as some appliances now strive to achieve complete efficiency.
A house with appliances and less energy-efficient windows might tempt you to remodel in the future. If energy efficiency is not one of your top priorities, this can be disregarded. Just keep in mind it can also be a big change in your budgeting for the future.
Cooling costs can go down with energy-efficient windows, while appliances can decrease billing prices by 10 percent to12 percent. Some energy-star qualified appliances can help you use 25 percent less energy and over 30 percent less water than non-certified ones.
It might not be a requirement, but energy efficiency does save you a fair price in the long run. It’s a feature you might want to think about.
6. Ideal Home Style
We all have a different style or aesthetic that we prefer. Most people want this reflected in their house. However, what you want to embody and think about is: is the house I’m looking at something that I’ll feel comfortable going home to every day?
Your home is one of the things in life that you’ve worked hard to buy. This is why it’s important to choose one that you love. Try to choose a house that reflects your personality to the best of its ability.
7. How Old Is the Property?
Age makes a difference, especially with a place you’re thinking about living in. Some homes thrive as time passes by, and others do not. Both old and new homes have their respective pros and cons. Always be aware of what comes with the house before submitting an offer.
An older house may have a traditional or special charm that catches your attention, but is it enough to sustain how many people will be living in the house? Especially if there are children, you might need to think it over. New constructions, remodeling, and other changes might be things you want to consider as well.
8. Does It Have Potential for Future Changes?
As you grow up, your vision of your ideal home might change. As a child, you might have wished for a mansion with lots of space, but as you grow older, you might want something smaller and manageable. That’s why it’s good to see if a house is viable for any future projects you want to be added and done.
Accessibility and ease of customization bring different prices for future changes. There are houses where you might visualize making immediate changes, and there are houses that you think are perfect as it is - for now. If you know that you’re a person whose taste changes frequently, it might be best to look into a home that can be easily modified.
Renovation does not happen all the time, but the possibility shouldn’t be ruled out. Remember that any big or small project can make a big change out of your perspective.
If you can’t change the location and lot of the house, what can you change? As a homebuyer, you have opportunities to take advantage of certain situations where you can change the price of a home. Price determination is one of the most important aspects of the real estate market.
Some people will overpay on a home without realizing it, as it happens more often than not. The homebuying process can get stressful and very emotional for some people, which leads to impulsive decisions.
If you impulsively buy a home for more than it is worth, then it changes a lot for your budget and your life in the long run. Some houses may have issues that should have decreased the price, and some are just not worth it at all. Remember that if you purchase the home by using a loan, the house will need an appraisal first before being approved for sale.
10. Condition of the Home
Houses do not come completely free of issues, especially if someone’s lived in them before. Even though the house may have had surface issues repaired and maintained, the structure, plumbing, foundation, and many more can have their own problems.
However, some properties have noticeable issues that a few simple adjustments can fix. Some of these can even be done by yourself if you want. If you find a house on the market that is fairly priced and has a few fixable issues, it might be good to consider it.
When you plan to buy a home in Charlotte, NC, ensure you don’t overlook its condition and issues! Some are fixable, and some are not. You just have to look closely at what you can and can’t handle.
11. How Much Compromise Can You Handle?
There are some things that you just have to accept, but some things can be negotiated. A dream home can be hard to find, even for those with less specific tastes to fulfill. Take note that it is important to avoid being overly idealistic, but at the same time, never settle on something far from what you hoped for.
Be prepared to compromise and negotiate on certain things. These can be features like pools, number of rooms, specific features and amenities, things that can be added in the future, and more. You’ll need to make compromises on each property you encounter, but choose the one that has the least number of them.
If you spend more time compromising than you do admiring, then you might be settling too much. A home that fulfills your needs and fits your considerations best, with a few compromises here and there, might just be the best choice to go with.
Is It a Good Time to Buy a House in Charlotte, NC?
It is a good time to buy a house in Charlotte, NC as Charlotte ranks as one of the fastest-growing cities in the United States. If this goes on, between the years of 2010 and 2030, World Population Review predicts its growth to be approximately 47 percent.
COVID-19 has definitely brought upon changes that led to this, but even before, Charlotte, NC has been a very popular place to live. Investing in a Charlotte, NC home would be a good choice, whether you’re looking for a rental investment or an investment for yourself.
There are lots of stable job market opportunities in Charlotte, matched with a good real estate market that offers plenty of properties to purchase. Charlotte is one of the best places to consider when looking for your first home.
What Features Are Most Important to Home Buyers?
The features that are most important to home buyers depend on the person. There’s a dream house for every homebuyer that they want to purchase. If it’s not a dream or ideal house, they want to fulfill and achieve a specific list of standards. This matters strongly, especially if that buyer is you, and you’re looking for a home where you’ll spend many years of your life.
House features can also be called amenities. These amenities can be external, such as convenience, transportation methods, shopping centers, and more. Private amenities can be your appliances, the energy efficiency of a home, the size of a lot.
Private amenities can be altered, removed, adjusted, or be included in the initial construction of a home. You can even set certain features as future projects for your chosen home.
Overall, it depends on your preference and personality. Some people want houses that cater to their lifestyle and situation. Some people prefer to buy homes like blank canvases to fill it up as time passes.
There is no single amenity that is a must-have for the whole population of homebuyers. It’s up to you, as a homebuyer, to know what you want and what you can negotiate and compromise on. That’s why it’s best to consider all possible factors before making an immediate decision.
Nancy Braun has been in the real estate industry for more than a decade. This has equipped her with the right skills to guide you towards what’s best in the homebuying process. Nancy and her team at Showcase Realty can help you throughout the process and find you the home that suits you the best in Charlotte, NC.