House Hunters: How to Find a Hidden Gem (and Not a Money Pit!)
Looking to buy a house you can comfortably afford? Today we’re going over how you can find a hidden gem and not a money pit!
How to Find and Buy a House You Can AffordI don’t know how things are in your area, but here in the Triangle, the housing market is hot. Prices have shot up. The median price of homes currently listed in Raleigh is $379,000.
To give you some context, a townhouse on our street went for more than double what we paid for our single-family house a few years ago.
Just the other week, I caught a story on the local news about how unaffordable the Raleigh Durham area is getting. If you want to buy a house you have to be a savvy house hunter.
Now you may have heard that you can snag a deal with a fixer-upper, but how do you know which houses are diamonds in the rough and which ones are money pits?
If you’re thinking of or are planning on buying a house soon, you may be facing these same questions and challenges. That’s why I’m pulling from the archives my interview with
He's the Vice President of Real Estate Operations over at Coastal Credit Union. He has decades of experience with the real estate agent side as well as home renovations.
In this episode, we're going to discuss:
- the differences between buying new construction versus resale
- spotting great (and still affordable) neighborhoods, and then
- finding a fixer-upper instead of a money pit
We have so much to cover, so let’s get started!
Resources on Buying a HouseIf you’re looking to buy, here are some resources to help you find an affordable place you love!
- Best Budget and Money Apps: Personal Capital, Tiller, Mint
- Grow Your Stash Faster: High Yield Savings with CiT Bank
- Jumpstart Your Marriage and Your Money
- My friend was about to buy a million-dollar house with no research
- What You Need to Know About Mortgages
- Buying a Home: From Contemplation to Closing
Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.
If you need an agent, Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area!
Rollover Your 401(k) Easily with CapitalizeWe’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier.
Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years.
And because of the Great Resignation, you or someone you know might be changing jobs even more
It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?
One huge benefit with an IRA is you get to choose how your money is invested, not your old employer.
If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.
With Capitalize, they handle the process– for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf.
Find out how and get started today!
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Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.
This episode was originally released in July 2019. Shownotes have been updated April 2022.