Buying a Newly Constructed Home in The Triangle this Spring?
Vogue magazine recently ranked Raleigh as one of the top 3 best places to buy a home in 2018. This and many other "best of lists" that Triangle area towns have been topping as of late is due in part to our growing jobs market which has prompted a population boom of incoming families searching for an exceptional quality of life. Springtime is notoriously one of the busiest times in the real estate market with higher competition for prospective home buyers leading sellers to drive up home prices due to high demand. All of this amounts to a great time to buy a newly constructed home in the Triangle area!
The Basics of Homebuying
Before the purchase of any home – newly built or not – you’re going to need to get your finances in order. Any serious buyer will be pre-approved for financing by providing the following to their lender:
- Two-year history of income with verification of on-time payments
- Two years’ history of employment in the same field of work
- Two years of income documentation – W2’s or full tax returns
- 30 days of most recent pay stubs
- 60 days of most recent asset documentation demonstrating enough money to cover all closing costs and down payment
- Credit pulled reviewed by a licensed loan officer
Buy Your New Home from a Builder
Buying your new home from a builder comes with several advantages, especially when you’re buying in a seller’s market. When you work with a trusted builder you can combine all your competitive advantages into a one-stop shop.
- Easier Financing: Most builders have a steady relationship with mortgage lenders they know and trust. This can make for a smoother transaction and quicker approval for your financing.
- Experienced Real Estate Agents: Builders keep experienced real estate agents on staff who are familiar with models, amenities, and communities offered by the builder.
- Available Inventory: When it’s a seller’s market, builders are building. When you pre-purchase a brand new home in a developing community you automatically remove yourself from the bidding wars.
- New Homes Are Smarter Homes: When you buy an older home, chances are you’re going to need to update it with the latest in technological comforts. This may include costly renovations to update the home and to make it compatible with the latest technology. When you buy new, you get the most up-to-date in-home technology as well as construction technology which means less in maintenance costs and lower energy bills.
Looking for a Home in the Triangle Area?
When you’re looking to buy a home this spring in the Triangle area, consider bypassing the bidding wars and get exactly what you want. Avoid delays and streamline the buying process by working with a trusted home builder. A home is the most valuable asset for most people – make sure you get the home you want with as little stress as possible.
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