Buying a Home: Essential Guides, Tips and Resources
Thinking about buying a home can feel like stepping into a maze. You’re not alone—many people wonder how to start, what money they need, and which fees they can dodge. Below you’ll find the most practical advice, straight from our latest articles, to help you move from dreaming to owning.
First‑time Buyer Basics
If you’ve never owned property, the biggest hurdle is often the down payment. In North Carolina, for example, the state offers grants that can cover a sizable chunk of your upfront costs. Check the eligibility list, gather your proof of income, and apply early—these programs fill up fast. A solid credit score also matters. In 2025, most lenders look for a score of at least 620 for a conventional loan, but a score above 720 can shave points off your interest rate and might even qualify you for a zero‑down mortgage.
Don’t forget to explore first‑time buyer programs beyond grants. Some local councils provide low‑interest loans or tax credits that can make your monthly payment more manageable. The key is to stack benefits: grant, low‑interest loan, and a good credit score together can dramatically lower what you need to save.
Understanding Costs and Saving Money
Closing costs are the next surprise most buyers face. In North Carolina, buyers typically pay between 2% and 5% of the purchase price in fees—things like title insurance, transfer tax, and appraisal fees. Sellers often cover a portion of these costs, so don’t be shy about negotiating who pays what. One simple way to cut fees is to shop around for services like title insurance; prices can vary by 30% across providers.
Realtor commissions used to be a fixed 6% of the sale price, but the market is shifting. In 2025, many agents are open to reduced rates, especially if you list the home yourself (FSBO) or use a limited‑service broker. Some states even allow buyer rebates, where the agent gives back a portion of their commission after closing. Ask your agent up front about these options to avoid unexpected expenses.
Another hidden cost is the “Zestimate” or online home valuation. While useful for a ballpark figure, these estimates can be off by 10% or more. For a realistic price, order a professional appraisal or use recent sales of similar homes in your area. Knowing the true value helps you negotiate better and prevents overpaying.
Finally, consider the long‑term cost of ownership. Property taxes, insurance, and maintenance add up. A rule of thumb is to budget 1% of the home’s value each year for upkeep. If you buy a $300,000 house, set aside $3,000 annually for things like roof repairs or garden work.
Every step of the buying journey—saving for a down payment, checking your credit, negotiating fees, and planning maintenance—has tools and tricks to make it smoother. Use our articles as a checklist, talk to a local mortgage advisor, and start turning that “maybe someday” into a concrete plan today.