how to prepare for the purchase of a home

Buying a home is one of the most exciting and important financial decisions you can make – and with the fast-moving real estate market in Charlotte, NC, it’s essential to be prepared. Whether you’re a first-time buyer or upgrading to your dream home, taking the right steps before you start house-hunting can save you time, money, and stress.

Here’s a simple guide to help you prepare for the purchase of a home:

1. Check Your Credit Score
Your credit score plays a big role in determining your mortgage eligibility and interest rate.

  • Check your score early and correct any errors.
  • Pay down debts, avoid new credit inquiries, and make all payments on time.

Tip: In general, a score of 620+ is the minimum for most loans, but a 740+ score may get you the best interest rates. Talk to your Realtor if you have a lower score they may be able to connect you with a lender that can qualify you or guide you on how to increase your score in a short period of time!

2. Save for a Down Payment and Closing Costs
While some loans (like FHA or VA) offer low or no down payment options, saving more upfront can reduce your monthly payment.

  • Down payments typically range from 3% to 20%.
  • Plan for closing costs too – these usually run about 2-4% of the home’s purchase price.

Charlotte tip: With competitive inventory, a strong down payment can help your offer stand out during a sellers market and when multiple offers are on the table for any given home.
3. Figure Out What You Can Afford
Before you fall in love with a house, get clear on your budget.

  • Use a mortgage calculator to estimate your monthly payment.
  • Include costs like property taxes, homeowner’s insurance, HOA fees, and repairs.

Most experts recommend keeping your monthly housing expenses under 30% of your gross income. Your lender will also consider your DTI-Debt to Income Ratio. Talk to your Realtor to connect you with the right lender, they’re well aware of the different loans that can cater to your specific needs.

4. Get Pre-Approved for a Mortgage

A mortgage pre-approval strengthens your offer and helps you shop within your price range.

  • Gather financial documents: tax returns for the past 2yrs, pay stubs for the past 60days, bank statements past 60days, ID.
  • Shop around for lenders — not all rates and fees are the same. Try and get at least 3 quotes so you can choose the terms that benefit you.
  • Ask about first-time buyer or local loan programs available in Charlotte and North Carolina. This is where your Realtor’s knowledge and connections play a big role.

5. Hire a Local Real Estate Agent

Working with a knowledgeable agent who understands the Charlotte market can make all the difference.

  • I’ll help you find the right home, negotiate terms, and guide you from offer to closing.
  • You’ll get local insights into neighborhoods, school zones, market trends, and more.

6. Make a List of Needs vs. Wants

It helps to separate your must-haves from your wish list. Think about:

  • How many bedrooms and bathrooms?
  • Commute to work or school?
  • Do you want a yard, home office, or a two-car garage?
  • Are you looking in South Charlotte, University City, Ballantyne, or another area?

Being flexible helps you stay realistic while still reaching your goals.

7. Start House Hunting (Smartly!)

Now comes the fun part: searching for your new home!

  • Tour homes with your agent.
  • Take notes and photos, ask about age of roof, HVAC, appliances, etc.
  • Don’t skip the home inspection — it can reveal major issues.

8. Expect Some Twists and Turns

Every homebuying journey is unique. There may be bidding wars, appraisal issues, or inspection surprises.

  • Stay patient and focused.
  • Lean on your agent’s

experience (that’s me!) to navigate each step with confidence.

Final Thoughts from Amelia

Buying a home is a major milestone — and with the right preparation, it can be smooth, exciting, and successful. Whether you’re buying your first home or your next home here in Charlotte, NC, I’m here to help guide you every step of the way. ⸻ 📞 Ready to talk about your home goals? Let’s connect!