What to Know Before Buying a Home in Cary, NC

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Exploring Cary, NC From North to South

Thinking about buying a home in Cary? Great idea! You selected a lively city with a great balance of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We support 3.8 million customers from coast to coast and have the inside scoop on Cary's housing scene.

Cary's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Ongoing support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Cary area, but so much change also means more traffic, more competition, and a need for more schools. Even so, Cary and its nearby areas still offer an array of home types and prices. You can find single-family homes, condos, townhomes, and (fingers-crossed) your dream house! When looking to buy a house in Cary, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your trip from the house to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Cary will also give you an idea of why homes in west Cary are priced differently than homes in east Cary, what the neighborhoods are like, and where to find Cary's hottest attractions.

Are your finances in the right place to buy a home in Cary? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in North Carolina or elsewhere. We serve experienced homeowners and first-time homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Cary.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Cary. Then, map out your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Cary averages will usually give you some solid estimates. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, figure out what a realistic down payment would be for you. Putting at least 20% down will increase your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). That said, the required down payment will depend on the type of loan you get. This is where getting prequalified for a mortgage comes in handy. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and options are always a good thing!

Make Your Move: Buy a Home in Cary, NC

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Cary. Contact Mr. Cooper as you get ready to buy a house in Cary. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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