My dream is to own a home one day. I think the idea of owning something I can customize and having it become an extension of me is fantastic. However, I get stressed out thinking about purchasing a house. It’s a tough decision and a really big purchase. How much can you spend? What is the right type of home for you? How do you apply for a mortgage? So many questions run through my head and it can be a little nerve-wracking and overwhelming. But honestly, buying a home or just pondering the idea of doing so doesn’t have to be. Hunting for a house should be an exciting time in your life. But again let’s be real, there are a lot of things to consider when buying a house.
In Charlotte, houses are selling like hotcakes. We are lucky enough to live in a sunny, gorgeous city where our neighbors are friendly and welcoming. It is a great place to raise your children and if you like the cold, we even get a little snow from time to time. Norada recently published an article about the real estate boom in our area. The article mentioned that so many houses are being sold quickly, inventories are low, and prices are rising rapidly. It is no secret that this is the result of the pandemic. The sellers are doing well, but the buyers are in a bit of a rut. As the article states, Charlotte is a seller’s real estate market. There are a good amount of buyers than there were active homes for sale. The demand for housing outpaces the supply and that means offers are competitive and aggressive.
What is a Mortgage?
When I think about buying a home, one of my first questions is what on earth is a mortgage? Simply put, a mortgage is a loan from a bank or mortgage lender. It allows individuals to purchase a home or make investments. To secure a loan, you must give at least 80% of the value of the asset to secure the loan. A loan can cover the entire cost of the property you plan to invest in. If you are looking to buy a home, mortgage calculators and tools will make things easier for you. You can get an idea of how much you could borrow, which will help you to plan for a successful home purchase.
Are You Ready to Buy A Home?
There are so many factors that go into buying a home. The big question, “Are you ready to buy a home?” is always something that persistently protrudes in my mind. One of the biggest things to think about before taking the big homebuyer plunge is your overall budget. The worst thing you would want to do is be in a massive amount of debt for the rest of your life. You have to know your budget and if you are financially stable.
Buying a house in 2022, especially in the Charlotte area offers a lot of variety. The city has a strong economic identity and is the second-largest banking hub in the U.S. With diverse neighborhoods and suburban areas, all that is left for you to do is figure out what type of home fits your lifestyle best. There are tons of attractive homes for sale and if you’ve been looking for a home then you know how true this is. Charlotte’s diverse neighborhoods offer different home features. You could live uptown in a loft or a townhouse nestled in the art district. My ideal home would be a four-bedroom, two-bath, and a big wrap-around porch!
House hunting in Charlotte in 2022 will provide you with a happy and charming taste of Southing living. But since the market is so competitive right now, If you plan on buying a home in 2022, House to Home Organizing gives an important tip; If you are getting burned out, you may need to take a break from buying and come back with a clear mind.
Final Thoughts
It will never feel like the perfect time to buy but when it’s your time know there is help. In 2022 you can expect a good amount of change. Prices will continue to fluctuate but with the growth in our market, there will also be more homes becoming available. Charlotte, North Carolina has become one of the hottest markets in the United States and we are just headed up and up in 2022. If you are on the prowl for a new home be sure to check out an external mortgage calculator. A good one to try out is Mortgage Calculator U.K. which you can see more about here. This works for home buying in Charlotte and across the U.S. You can get a detailed view of graphs of loan repayment along with monthly and yearly amortization tables.
With Love,
Lex Paige
