Danielle Edwards

RE/MAX Executive

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Costs to Remember when Buying a Home

March 10, 2023 by Danielle Edwards

Learn About Home Buying Costs

When buying a home, there are many costs that go beyond the down payment and mortgage.

Homebuyers should factor in several additional expenses such as closing costs, appraisal fees, transfer tax, homeowner’s insurance fees and more. What’s more, these costs differ by state.

 

Closing Costs:

Closing costs typically include lawyer fees, title search fees and other administrative expenses associated with the completion of a sale agreement. Depending on where you live, closing costs could range from 2-5% of the purchase price of the home.

 

Appraisal Fees:

Appraisal fees generally depend on the size and complexity of the property being appraised but can range from $200-$1000 or more in some cases.

 

Transfer Taxes:

Transfer taxes are state or local fees that are paid on the sale of a house. The amount of transfer tax can range from 0-2% of the purchase price, depending on where you live.

 

Homeowner’s Insurance Fees:

Homeowners insurance is an annual fee that pays for repairs and damages to the home. Generally, this type of insurance costs between 0.2-1% of the purchase price annually.

 

Inspection Fees:

Home inspections typically cost around $500-$1000 but can vary widely depending on factors such as the size of the house and any special features it may have.

 

Closing Costs:

Closing costs can include fees for attorney’s services, title insurance, loan origination fees and other charges associated with obtaining a mortgage. Depending on your location, closing costs generally range from 2-6% of the purchase price.

 

Utility Bills:

Utility bills cover water, electricity, gas and other features such as trash pickup. These bills can range from a few hundred dollars to thousands of dollars per month, depending on your location, the size of your home and how energy efficient it is.

 

Maintenance & Repairs:

Home maintenance and repairs may cost anywhere between 2-4% of the purchase price annually. This includes costs for basic maintenance like mowing the lawn, as well as larger projects such as replacing a roof or an HVAC system.

 

Property Taxes:

Property taxes are paid annually and are calculated based on the assessed value of your home. The amount can range from 0.5-2% of your purchase price each year.

 

Insurance:

Homeowners insurance is typically required by the lender and can range from 0.2-1% of the purchase price each year. The cost may depend on your location, the size of your home and other factors.

 

HOA Fees:

If you are buying a condo or a home in a planned development, you may have to pay homeowner association (HOA) fees which cover shared amenities such as pools, common areas and parking lots. The cost of these fees can vary greatly depending on the type of property and the amenities offered.  Some communities will have capital contribution fees also, you see this more in the master plan communities.

 

Contact Danielle Edwards for information on Charlotte, NC, real estate. 

Danielle won Charlotte’s Best Female Realtor of 2022 by Elevate Magazine

Danielle Edwards

Charlotte Realtor® Danielle Edwards has been helping clients with their real estate needs since 2006.
2023 is the year of the Professional Realtor and getting back to a more normal real estate market.

Danielle Edwards
Charlotte Real Estate
Realtor, REMAX EXECUTIVE
Hefferon | Edwards Team

704-761-7484
Licensed In: NC
License #: 249833
Contact Me

Questions to Ask Real Estate Agent - Charlotte, NC

 

 

 

 

 

 

 

 

 

 

 

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Filed Under: Personal Interest, Uncategorized Tagged With: 28104, 28105, 28210, 28211, 28226, 28270, 28277, Appraisal, best real estate agent in charlotte, best realtor charlotte, charlotte favorite realtor, charlotte real estate tips, Closing Costs, HOA Fees, Homebuying, Homebuying Costs, Homebuying Tips, Homeowner's Insurance Fees, Insurance, Property Taxes, real estate tips, Repair Fees, top realtor charlotte

Buying a home Charlotte | Love or Lust?

February 16, 2022 by Danielle Edwards

Buying a home Charlotte | Love or Lust?

How to know if the prospective home is the right match for you

Danielle Edwards, Charlotte Realtor, featured in RE/MAX article

 

Buying a home Charlotte

A Charlotte RE/MAX agent offers helpful advice to keep buyers on track during the homebuying process.

Ever fallen in love with a house way over budget? Or had a crush on a house that’s too far from work?

Eager to get into a new home, buyers can often find themselves fantasizing over a property with bells and whistles that make it enticing, even though it’s not a great match. Add in low inventory, and buyers can be frantic to lock down any house. This can be especially relevant for first-time homebuyers who come into the process excited with high expectations. According to the National Association of REALTORS®, first-time buyers made up 34% of all homebuyers in the U.S. in 2021.

With more than 16 years of experience in Charlotte real estate, Danielle Edwards, an agent and team leader with RE/MAX Executive in Charlotte, North Carolina, shares how buyers will know they’ve found the right home for them (aka, the one) when they are buying a home Charlotte.

It meets your essential criteria- Buying a home Charlotte

Which features are must-haves, and which would simply be an added bonus? Before starting the homebuying process, make a comprehensive list of wants versus needs. Sticking to this list while browsing for homes can help eliminate properties that drive the lust factor but don’t actually suit the needs of you and your family.

Edwards tells her clients to consider their lifestyle when making this list.

“A buyer may say they want a large flat yard or a spacious yard for entertaining. I will say to them, ‘Think about how you actually live,’” says Edwards, a RE/MAX Platinum Club member. “I try to get buyers to really think about where they spend their time when they’re at home because being realistic can help them cross out some properties. It doesn’t make sense to get in a bidding war over something that you’re not going to use.”

She reflects, “In my own experience, in my previous house, we never went into our yard. We thought it would get so much use, but in reality, we were so busy on weekends it never got used as we had intended.”

When determining essential criteria in a prospective home, it’s important to also consider which elements you’d like to be move-in ready and what you’d be willing to renovate down the road.

“I find that some buyers get caught in this rabbit hole of the ‘perfect house.’ In reality, there is no perfect house. Every house has its quirks, so you have to figure out what is right for you,” Edwards says.

“There will always be something to do to it to make it more personal, whether you need to add a wall to make a home office, paint the exterior or remodel the kitchen. No matter what house you buy, you’re likely going to be spending money to make it your own. For some buyers that’s immediate and for some buyers that will happen over time.”

You can afford it- Buying a home Charlotte

Getting pre-approved for a mortgage – a process where a lender evaluates and confirms your borrowing potential – can help determine how much money you can actually spend on a house. But remember: the price of a home is more than just the down payment and monthly mortgage payments.

Account for the essential homebuying fees for services like inspection, closing, and working with a professional agent, and budget for unexpected home maintenance costs and regular repairs as well. In addition to furnishing a home, be prepared to deal with inevitable repairs to the roof, HVAC system, plumbing and more.

Seasonal maintenance costs may vary depending on the local. For example, harsh frosts can take a toll on driveway pavement and snow can present different risks to roofs in colder climates, and yard maintenance – like watering the lawn – can cost significantly more in warmer or drier climates. Depending on the weather, be prepared to purchase a snowblower or even xeriscape a yard.

 

It’s near important points of interest (POIs)- Buying a home Charlotte

When shopping for a house, it’s important to consider its proximity to places you frequent, like work, school, family members or a favorite park to walk the dog.

Location is personal. Some buyers are willing to expand the boundaries of their home search in order to find a fully renovated home, whereas others will take on a fixer-upper to be in their optimal location.

“Some people are focused on school districts or they’re focused on a certain neighborhood and that makes it easier to narrow down their search,” Edwards says. “If you convince yourself to move to an inconvenient location because you found a house you like, you could end up wanting to move out shortly after moving in.”

You feel at home in the community- Buying a home Charlotte

If buying locally, and not sight-unseen, try to spend time within the desired neighborhood before purchasing a home there.

“I always tell people to drive around the streets, go to the local park and talk to people who live in the neighborhood,” Edwards advises. “That’s something potential buyers can do even if you’re two to three years out from buying. That way, when you’re ready to buy, you have it narrowed down to where you want to be – and this is especially helpful when you have to act fast in a hot market.”

Ultimately, a qualified real estate professional is going to be your best source of information to discuss potential properties with and help narrow down which one is a perfect match.

“Whether it requires touring just one home that resonates or 50, a real estate agent is going to make sure they help you find the right one for you,” Edwards says.

Written by Leah Curtis

____

For more information on buying a Charlotte home check out my playlist chock full of free advice on buying your first home.  If you would like to set up a home buying consultation to discuss your game plan, just reach out!

 


Danielle Edwards

South Charlotte Real Estate
Realtor, REMAX EXECUTIVE

Hefferon | Edward Team
704-761-7484
Licensed In: NC
License #: 249833
Contact Me

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Useful Links
What does your equity say?
Buyer Market Update Reports

Filed Under: Advice, Charlotte News and Information, Featured Tagged With: best realtor charlotte, buying a home, buying a home charlotte, buying home tips, charlotte real estate tips, charlotte remax, tips

SELLING YOUR HOME CHARLOTTE

June 9, 2021 by Danielle Edwards

SELLING YOUR HOME CHARLOTTE

TOP 3 REASONS TO SELL YOUR HOUSE NOW!

CHARLOTTE  NC MARKET UPDATE

Charlotte Realtor® Danielle Edwards  explains what that means for sellers and buyers trying to WIN in this unprecedented Charlotte real estate market.

Most homeowners fear they have no place to go with so little inventory.

However, new solutions are coming forward to allow contingent buyers with a home to sell and stronger option, for a fee to the third party company.

Charlotte REMAX Agent Danielle Edwards gives you 3 reasons

WHY now is the time to sell.

 



Got Questions?  Let’s talk!

 


Danielle Edwards

South Charlotte Real Estate
Realtor, REMAX EXECUTIVE

Hefferon | Edward Team
704-761-7484
Licensed In: NC
License #: 249833
Contact Me

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Useful Links
What does your equity say?
Buyer Market Update Reports

Danielle Edwards Favorite MUST have Charlotte Real Estate Links

Buyer real estate software for market  updates

Best real estate software for your homes value

Search Charlotte Properties with Danielle

Check out my FIVE STAR REVIEWS here!

Filed Under: Charlotte Real Estate News Tagged With: 2021 real estate, ballantyne realtor, charlotte housing market, charlotte real estate tips, Charlotte realtor, contingency, danielle edwards, how to sell my house, matthews realtor, remax agent charlotte, remax charlotte, sell my house, south charlotte realtor, top realtors charlotte

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Danielle Edwards
RE/MAX Executive
12104 Copper Way Ste. 100
Charlotte, NC 28277
704-276-6882
info@soldondanielle.com

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