Save the Most Money When Buying a Kernersville, NC Home With These 33 Tips!

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Homeownership is the most direct road to wealth for many people, and your primary residence might eventually become your most valuable asset. However, buying a home can feel complicated, with property prices soaring in most locations. If owning a home appears out of reach, though, don't give up. There are ways to ease the shock and save money when purchasing a home.

It sometimes seems impossible to save enough money to purchase a home. Fortunately, you can use a few easy tactics to make saving for a house a little easier. From finding out how much you can afford and understanding the importance of a home inspection to finding the top listing agent in Kernersville, NC, these tips can make your homeownership dreams a reality. 

Buying a home can be an excellent investment, and it's an important milestone in anyone's life. However, buying a home can also be expensive, so it's essential to get the best deal possible. This blog post will show you tips and tricks to save money when you’re buying a home. Keep reading to learn more!

How Can I Save the Most Money When Buying a House?

You can do several things to save money while preparing to buy a home. These measures can be taken before and during the purchasing process, and they can all help you save money on your new home.

1. Know When Homes Sell

Knowing when people are likely to place their houses on the market, and using that information to help you decide when to buy your new home, is a crucial aspect of this process.

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2. Don't Go Overboard With Your Budget

You shouldn't buy a $400,000 home just because you've been approved for a $400,000 mortgage. Closing costs, taxes, insurance, repairs, and monthly payments are all things to consider as well.

3. Don't Forget About the Home Inspection

If the house appears to be in perfect condition, it may be tempting to save the extra dollars you would have spent on an inspection. In one word: Don’t. Home inspections are well worth the money. Inspectors can spot issues you might not notice otherwise, giving home buyers peace of mind.

4. Get Pre-Approved

Pre-approval from a lender is required if you want to be taken seriously in your property hunt. This will demonstrate to potential buyers that you've done the essential financial steps to qualify for a mortgage.

5. Understand Down Payments

Depending on your lender, you'll probably need a down payment of at least 5% of the purchase price. You'll also want to set aside some cash for closing costs and an emergency fund. If you can't put down 20% on the house, you may have to pay private mortgage insurance (PMI). It’s crucial to understand down payment requirements before you make an offer.

6. Know Your DIY Limits

Consider what you're willing to deal with (and what you're not) when purchasing a home that requires repairs. If the house needs some maintenance, be aware of the costs related to the repairs.

7. Control Your Emotions

Keeping your emotions in check is critical. If your feelings cloud your judgment, you can ignore certain pricey concerns and overpay for a home.

8. Don't Forget to Take the Final Walk-Through

Most purchase agreements include a final walk-through of the property to check that everything is still in good working order. This may not seem important, but if you're buying a foreclosed home or evicting dissatisfied tenants, you'll want to ensure no damage is done at the last minute.

9. Check Out Your Neighbors

Neighbors may be able to provide information on former owners or tenants. You can find a buddy, confidant, and even a babysitter in a nice neighborhood.

10. Don't Stick With One House

It's fantastic if you like the first house, but make sure you look at others. It's crucial to look at a few homes to weigh the benefits and drawbacks. Viewing more properties will help you better grasp your selections and your wants and needs.

11. Don't Buy Too Big

Never, no matter how tempted you are, buy a larger house than you currently need. Consider where you've previously lived and how much space your stuff needs.

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12. Understand Your DIY Limitations

Consider what you're willing to deal with and what you're not when choosing a home that requires repairs. If the house needs some repairs, be aware of the costs related to the repairs.

13. Learn Association Details

Find out if there is a homeowners' association (HOA) or comparable organization. Read over their prerequisites if there is one. (Any professional Realtor can obtain these promptly.) Take note of any HOA costs and what they cover.

14. Take a Look Around the Neighborhood

If what you see makes you nervous, you should think twice about buying a home there. You should also check the crime rates and typical home prices in the area.

15. Proximity to Work and Schools

Take note of any public transit stops. Travel the routes yourself to get a sense of how they are, how busy they are, and how long your travel time will be during your commute.

16. Find Out More About Other Homes for Sale

Are there any similar houses for sale right now, or will there be in the future? This is something that an experienced and top Kernersville, NC, real estate agent will be aware of.

17. Consider the Commuting Situation

A commute might become a chore after a while. Look for a property closer to your workplace if your commute takes time away from your family or personal time.

18. Check the Plumbing

Poor water pressure or a slow drain might be signs of more severe plumbing problems. Check for leaks in bathtubs and shower pans.

19. Get Furnace and Water Heater Details

Aside from verifying that the furnace and water heater are in good working order, you should find out how old they are and when they were last serviced.

20. Don't Forget the Basement

An unfinished basement can reveal a lot about the house's and foundation's condition. Examine the area for cracks, evidence of repairs, and leaks. A fracture in the slab or wall isn't always a deal-breaker, but it's crucial to know why one formed.

21. Recognize Your Renovation Limits

Most of us fantasize about being able to do whatever we want with our home once we buy it. The reality is that we must consider both municipal ordinances and any obligations imposed by homeowners associations.

22. Repurpose Furniture You Already Own

Consider using things you currently have, even if they don't work where you originally meant them to go, rather than buying completely new furniture for a new home.

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23. Invest In Energy-Efficient Upgrades

It may pay off to invest in energy-efficient changes. Consider adding a smart thermostat, better insulation, or new windows when making upgrades to your home, especially if it is an older home.

24. Consider Downsizing Your Current Home

Downsizing is a quick way to save money for a down payment. Downsizing can simply mean moving into a smaller space because a larger one is no longer needed. You cut the amount you pay for essential expenses when you downsize and put the excess money into a savings account instead.

25. Reduce Or Cut Out A Bad Habit

You can save hundreds of dollars each year by reducing or eliminating a single bad habit. Consider giving up spontaneous purchases or eating out and putting the money toward your down payment.

26. Have a Strong Credit Score

If you're buying a house, you'll need the best credit score you can get. Lenders only offer the greatest rates to clients who have demonstrated financial responsibility. 5% difference can save you a lot of money throughout your loan's life.

27. Skip The  Vacation

Exploring a new location may be a thrilling adventure. Regrettably, it's frequently also an expensive one. The average family of four spends $4,500 on vacation, a significant sum of money. Consider a “staycation” this year instead.

28. Get Some Part-Time Work

Freelancing allows you to work from home on individual projects for clients. Contracting out your services as a writer, photographer, or other professional can help you earn money on your own time.

29. Reduce Your Debt

Diverting your excess money toward your debt may seem paradoxical if you're trying to buy a house. However, the higher your debt, the less attractive you are as a mortgage candidate. This may result in higher interest rates and a larger down payment demand.

30. Rent Out Your Spare Room Or Parking Space

Is there a spare room in your apartment? Consider putting it on an online hospitality service like Airbnb if you have one. You have complete control over who and when your space is used with Airbnb.

31. Work with Best Real Estate Agent in Kernersville, NC

A top-tier negotiator agent will be your best buddy when deciding what to offer on a home. Buyer's agents who are dedicated to saving their customers money will assist you in gaining a better understanding of the housing market.

32. Verify Everything

Insist on a complete written disclosure from the seller on renovations, repairs, previous damage, leaks, mold, and other issues. Check with the city or county for the property's permit history, zoning, prior usage, homeowners' association limitations, and anything else you can learn.

33. Don't Forget to Plan for the Future

Consider future developments in your life if you have a specific house in mind.

Will there be new developments and construction near the property? Is the home near a busy road? Also, because no one knows what the future holds, consider the possible resale value of your prospective property. You may have to sell sooner than you anticipated.

How Much Should You Have in Savings Before Buying a Home?

When saving for a home, having a cash reserve — or an emergency fund — that isn't used for the down payment or closing costs is critical. It's a good idea to keep a cash reserve of at least 3-6 months' worth of living expenditures.

How Can I Save Money for a House in 6 Months?

First, research homes in your neighborhood and figure out how much money you want to spend. It's quite simple to figure out how much money you should have saved for a house if you know how much money you want to spend on your property.

How Can I Reduce the Cost of Buying a House?

Making extra payments is one strategy to lower your mortgage bills. Payments made in one lump sum are allocated to the primary debt. Check your mortgage agreement's terms and conditions for extra payment rules, as they may differ per lender. Prepayment penalties, for example, are imposed by some lenders.


When buying a house, it is essential to know its expenses. It's important to know ahead of time where you can save money and what sorts of things might not be affordable after buying a particular home. With so many homes to choose from, you must find the best real estate agent in Kernersville, NC. The most experienced ones will know exactly where and how much money buyers like yourselves want to waste on their next property purchase in Kernersville!

You'll want to work with someone who has a proven track record, so call Jennifer Hollowell, the top Kernersville, NC, real estate agent, at (336)-926-9519 immediately. She can assist you in finding homes for sale in Kernersville, NC, while making the best possible offer and putting your mind at ease to make wise decisions.

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jennifer, great post to give buyers some insight into real estate.  Welcome to ActiveRain!

Jun 20, 2022 07:00 AM