5 Things Every Home Buyer in Charlotte, NC Needs to Know
- A plan is key. Knowing your budget up front allows you to be realistic when you’re evaluating properties. Identify which factors are important in and around your home. Educate yourself on the best neighborhoods for you and your lifestyle. By doing prep work like this, you’ll be able to narrow down the list of potential properties, which can speed and simplify your home search.
- It’s a competitive market. Charlotte is one of the fastest growing metro areas in the country. As the population in Charlotte rises, so do the number of buyers. And that means properties can go under contract in just hours. You’ll need to be ready to see homes as soon as they get into MLS so you don’t miss out. With the average home on the market for just 50 days in Charlotte, time is of the essence so speed can give you an advantage.
- Get an experienced real estate agent. Don’t just rely on online searches. With their insider knowledge of neighborhoods, properties and recent sales, an agent can put you in a better position to view properties as soon as they’re available and make a strong offer. A knowledgeable real estate agent can also guide you ever step of the way with seasoned advice to keep your deal on track to the closing table.
- You’ll want to act quickly. In Charlotte, with such limited inventory (available properties shrank 23.9 percent in 2019), you’ll need to be ready to put in an offer on a home you love immediately. That means getting all your ducks in a row beforehand. In addition to hiring a real estate agent, be sure to talk to lenders before you start looking at properties so you can get a pre-approval letter to show you’re serious.
- Be prepared to make a strong offer. Even during COVID-19, Charlotte home prices didn’t show signs of slowing down. In fact, prices this spring rose year-over-year, up an average of 9.9 percent from last year. If you’ve found your dream home, talk to your agent about how to make your best offer. The combination of low inventory and high demand mean that if you don’t, you may lose out to another buyer.
With proper planning and preparation, you’ll be ready to make your next move. Ready to get started? Click here to get matched with an experienced, local real estate agent in Charlotte.