TIPS: Smarter Home Shopping in 2015

Real Estate Agent with Sun Realty NC

Buying a House at the Beach


With a strengthening employment market, many economists are predicting that Buyers will see a much more active housing market in the coming months. In a recent article, highlighted several tips to aid Buyers which include:


  1. Put the ego aside during negotiations, do the math. Home shoppers need to factor in the low interest rates and how much they could be saving rather than waggling over a home price that may only be about a $5,000 difference. For example, notes that at an interest rate of 4.5%, the difference between paying $200,000 and $195,000 with 15% down – only amounts to about $25 per month on a 30-year mortgage. Is $25 worth it for losing the home they want? Also, mortgage rates are near record lows right now, some even below 4%. But borrowing costs are expected to move up; Moody’s Analytics predicts mortgage rates will rise to 6% by 2017.
  2. Avoid big-capital purchases before closing. This can delay or even prevent a closing. Buyers that open new credit cards or buy furniture prior to closing can raise their debt-to-income ratio. This information is examined by lender prior to closing and can affect the amount of mortgage that is affordable. Buyers (that are financing their new home) should avoid moving large sums of money around, changing banks, or changing jobs or becoming self-employed when in the midst of buying a home.
  3. Take lots of notes. Several tours of properties can be overwhelming and the homes can start blend together by the end of the day. I encourage Buyers to keep a pro/con checklist for each home they view. I also advise them to create a scale of 1-10, in order to give each home a specific rating. Plus, Buyers might want to carry a checklist of the specific features desired in order to check which qualities each home has.




Posted by

I strive to be your one-stop-shop for all that is happening in world of real estate and in our very own little oasis of the Outer Banks of North Carolina. I invite you to become a fan of our Facebook page ( ), post your comments, ask questions...start a conversation!

If you are considering buying or selling in the Outer Banks, please contact me today at 252-489-8491. Should you have any questions or would like to discuss your unique situation regarding real estate in the Outer Banks of North Carolina, then please call or email me today.


Got questions?
Ask! or 252-489-8491
Hugh "Scooter" Willey 


If you enjoy my blog posts, then let's Network more, here is my LinkedIn Profile


Comments (1)

Michael Dagner
Brokers Guild Classic - Denver, CO
Your Denver Homes Realty Expert

Hi Hugh, sometimes home buyers miss the big picture.  Getting into the house is better than losing out when those rates do rise.

Feb 05, 2015 02:08 PM