It can be difficult to find a home that won’t burn a hole in your pocket, especially if you’re considering a sought-after location, like Charlotte, North Carolina. Charlotte remains one of the fastest-growing cities in the nation, but what does this mean for homebuyers? More and more people are paying a hefty sum to relocate to the Queen City. In short, the Charlotte real estate market is more competitive than ever! Is it still possible to save money to buy your dream home in Charlotte, NC? Or will it remain just a long-cherished dream? 

It is possible to save money when buying a Charlotte, NC home and live in your dream home in Charlotte as long as you have a trustworthy, experienced, and reliable real estate agent by your side. From finding a side hustle, increasing your credit score to getting multiple loans, you just need a few top tips on how to save money and get the best deal on your new home. 

In this article, I’ll begin by discussing the status of the real estate market in Charlotte. From there, let’s tackle what you need to expect financially if you want to find a home in the area.

Are you ready to learn about the 9 best-kept secrets that’ll help you save money when buying a Charlotte, NC home?

Let’s get to it! First, though, here’s a little background on the Charlotte real estate market.

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Why Are House Prices So High in Charlotte?

To date, Charlotte is the third fastest-growing city in the US. And according to, Charlotte has the best real estate market growth in the Southeastern US in 2021. 

With lower taxes and living costs, more space, and better quality of life to look forward to in Charlotte, more families, millennials, seniors, are joining the competition to buy a home in the area

Because of the rising population, stable job market, and skyrocketing house prices, Charlotte real estate is only expected to grow. 

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How Much Is a Home in Charlotte, NC?

In the first half of 2021, the median list price for Charlotte, North Carolina homes for sale was approximately $360,000. This list price is higher by almost 11% year-over-year. 

Charlotte’s median listing price was around $195 per square foot. During this time, the median sale price for Charlotte homes was around $350,000.

What do these numbers mean for homebuyers? The sale-to-list price in Charlotte is around 101.82%. This isn’t great news for buyers who want to get a good deal. Ideally, the sale-to-ask price should be approximately 90%.

Even amid the coronavirus pandemic, Charlotte is a seller’s market. The housing shortage and fierce competition is driving up median list prices. You must get the help of a trusted real estate agent, like Nancy Braun of Showcase Realty.

This is all the more reason to take a look at our best-kept secrets to saving money for a home in North Carolina.

9 Best Kept Secrets That'll Help You Save Money When Buying Charlotte, NC Home

Here are some ways to help you save money as you buy a Charlotte, NC home.

Charlotte, NC Real Estate

1. Get the Help of an Experienced and Trustworthy Local Real Estate Agent

First-time homebuyers often make the mistake of not using an agent to save money. But here’s what you should know: signing up with a good realtor will save you money, time, and energy! Their valuable experience in the home buying process will save you a ton of heartbreak.

From my experience working with different real estate agents in Charlotte, Nancy Braun Real Estate always impresses me with their innovative solutions to buying and selling homes faster and for more money for you!

2. Trust an Expert Negotiator

Whether a lawyer or a real estate agent, the best way to get the longer end of the stick is to have an expert negotiator on your team. 

I recommend going with a real estate agent, though. A lawyer might not be up to date with real estate trends. A real estate team’s expertise in closing deals means that you’ll find the home of your dreams in no time! An experienced realtor will ensure that you get the best deal while ensuring that the whole process goes smoothly.

Your real estate agent will negotiate on your behalf to protect you and your finances in ways that you never knew you needed! 

3. Figure Out How Much You Can Afford Monthly

To avoid getting stuck on mortgage insurance, make sure to determine the monthly housing payment you can afford.

The general rule is to spend no more than 28% of your monthly take-home pay on housing costs, including principal, property taxes, insurance, interest, homeowners association fees, and private mortgage insurance.

4. Get Multiple Loan Quotes

You should also be careful about the type of mortgage you get. Think about the interest and fees that can keep you in debt for years.

To ensure that you get a reasonable offer, get loan quotes from at least 3 to 4 mortgage companies.

Saving Money when Buying Charlotte, NC Home

5. Increase Your Credit Score

Remember, the higher your credit score, the better the interest rates on your loan will be. Interest rates and lender fees directly amp up your credit rating, so make sure to improve your score by:

  • Paying your credit card balances: Keep it below 15%!
  • Keep your loans to a minimum: Opening a new account will drop your credit score.

6. Mark It on Your Calendar

According to experts, you should start looking for a home at least five months before you want to move in.

In Charlotte, sales increase starting February and March, eventually reaching the peak season in June. 

Now, if you’re looking for the month with the lowest listing prices to save money, the best time to buy a home in North Carolina is in January. On average, homes were at least $35,000 cheaper.

7. Buy a House That Needs Work

If you want to save some money, don’t count on buying a home that’s pristine and doesn’t need any work. Homes with custom features and a complete list of upgrades will cost more!

The secret is to find the diamond in the rough and fix it up with custom features, painting, and lighting. This will save you thousands of dollars on your mortgage. Then once the time is right, you can add personal touches to make it your own.

8. Get a Survey of the Property Done

Property surveys ensure buyers that every penny spent on a home is worth it. This avoids any misunderstandings when it comes to property tax and fees. Getting to know the property also means resolving future property line issues with your potential neighbors.

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9. Rent Out Spare Rooms or Parking Spaces

If you’re looking for a manageable side hustle while you’re saving up money for a new home, consider renting out unused space in your home. If you have an extra bedroom or maybe even a parking space, you might be able to rent it to someone who needs it. There are lots of rental apps that can help you get extra cash, especially if you live in an urban area.

Final Thoughts

From renting part of your house to planning the best month to buy your home, it’s possible to save thousands of dollars to buy a home in Charlotte, NC!

Our top secret to saving that’ll help you save money? Trust Nancy Braun of Showcase Realty. Her expert team has worked in Charlotte for years! They hold the key to buying a home in a seller’s market. Contact Nancy Braun of Showcase Realty today at 704-997-3794.


Charlotte Real Estate, Nancy Braun, showcase realty

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