When you begin your new home search, you think about how much you want to spend and where you want to live. Determining where you want to live can be a good starting point. You’ll have to decide if you’re looking for something contemporary in the city, maybe something traditional the suburbs or maybe something coastal near the beach. Maybe you are looking for something close to work or you want your children to attend a particular school district? There are so many considerations when deciding where to look for a new home. The location of where you choose to live can impact how much you’ll need to budget for your new home as different areas have drastically different home values.
Home values across the state of North Carolina have risen over the past year by as much as 8.2% and are expected to rise by as much as 4.8% over the next year, according to Zillow. With increasing home values, the sales prices of new homes will rise as well. So, if you are on the fence as to whether or not to buy a new home, now may be the right time to buy before the prices increase.