Are you considering buying a home in Fayetteville? This thriving city was originally incorporated in 1783 and has continually grown year over year. In 2005, several new Commands were relocated to nearby Fort Bragg, bringing a huge new influx of residents working on the base. As of 2019, over 500,000 people lived within the Fayetteville metro area. It is also the 6th-largest city in the state.
It can be overwhelming to look for homes in Fayetteville, NC, real estate, especially when it’s experiencing a seller’s market. There is a lot of competition, and the market is still very hot right now, leading to a lack of inventory, multiple offers, and many homes selling over the asking price. However, you can still succeed no matter what the market’s like if you follow The Avalon Realty Group complete home-buying guide. Here are their tips.
Get pre-approved for a loan
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Some people consider the mortgage terms pre-qualified and pre-approved to be interchangeable, but the first thing you need to know is that they are not. While they may be similar, they are not the same. Getting pre-approved for a loan is much more important than getting a simple pre-qualification.
Getting pre-qualified for a mortgage simply means that the lender you are using has taken a look at your financials and believes you will qualify for a mortgage. This process is completed in less than a week and often within just a day or two.
Pre-approval is a deeper step. This usually involves a credit check, and you often have to sit down with your lender to talk about your payments, debt-to-income ratio, and more. This extra step can give a potential seller a lot of confidence that you are financially able to buy the home, and lender approval won’t hold up the sales process at all.
Fayetteville is still incredibly desirable, and despite the real estate market slowing down in many parts of the US, Cumberland County is still booming. Having a pre-approval letter in hand could be the difference between your offer on your dream home being accepted or having to continue your search.
Make a must-have and a must-not-have list
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Before you begin your search for Fayetteville luxury homes, sit down and make a few lists. You should have a must-have list, a nice-to-have list, and a must-not-have list.
On your must-have list, write down everything you simply can’t live without in your new home. It could be four bedrooms so you have enough space for everyone and a guest room, a walk-in closet in the master bedroom, or a second living space.
On your nice-to-have list, note everything you would appreciate in a new home but could live without. These items may be a renovated bathroom or kitchen, a finished basement, or a landscaped backyard. No home is going to be perfect, but knowing what you’re willing to compromise on will help the search.
Finally, write out any deal-breakers for a new home. If you can’t stand a certain neighborhood or you’re not willing to sacrifice on lot size, write it down! Knowing what you won’t entertain in a potential home will help weed out those properties that won’t work for your family and make the searching process a lot easier. Having everything written down will help you not forget anything, and your agent will have an easy-to-reference guide when finding homes for you to tour.
Know your ideal neighborhood
Fayetteville is a welcoming area that’s home to families, young couples, single workers, and more. There are families that have lived in the area for generations and have deep roots in the city or county. There are also younger couples living on their own for the first time, stationed at Ft. Bragg, and looking for homes near the best bars and restaurants. Obviously, each neighborhood brings something different to the table.
Before you start looking at a home, consider what you need from your neighborhood, not just the home itself. If you’re going to be commuting every day to Bragg and hate driving, you’re going to want to stay north, in Arran Hills or Arran Lakes West, since the commute will be short. If you want a little more space or a quiet neighborhood, Hope Mills or Rockfish may be the suburb you’re looking for.
Take notes while you’re viewing houses
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There’s a good chance you will view many houses during your search. Realistically, the more homes you tour, the better off you are! However, after your third or fourth home tour, the homes may end up blending together in your mind.
Each time you view a property, jot down some notes. Add the address and the time you viewed it, along with a few pros and cons of the home. You can also take pictures of things you loved or hated to help you remember the little details. In a few days, when you are looking back at the homes you toured and thinking about what is right for you, these notes will help you remember specifics about each property and make a better decision.
Work with a local professional
It’s important that you choose to work with someone who understands the local area and the market. There are many agents in Fayetteville who come and go, so be very careful with choosing a professional team for your family. You don’t want someone that is nearly as new to the area as you are, since they won’t have established connections to the market or understand what neighborhoods will suit you best.
When you’re ready to start your journey, reach out to Lisa Rivera with The Avalon Realty Group. Lisa has over 15 years of experience working with real estate and can help guide you every step of the way in your search for the perfect Fayetteville property for your family. Call today, and see how Lisa and her team can help you find the home of your dreams.
*Header photo courtesy of The Avalon Realty Group
Recommended Reading: Prestigious Fayetteville: Exploring the Pinnacle of Luxury Real Estate
*Header photo courtesy of The Avalon Realty Group
Recommended Reading: Prestigious Fayetteville: Exploring the Pinnacle of Luxury Real Estate
