First-Time Homebuyers in Cary, NC: What You Need to Know Before You Start House Hunting
Buying your first home in Cary, Raleigh, or one of the nearby suburbs is a huge milestone—and an exciting one. But if you’re just getting started, it can also feel overwhelming. Between fluctuating mortgage rates, rising home prices, and a competitive housing market in North Carolina, it pays to be prepared before you begin your search.
If you’re looking to buy your first home in the Triangle area, this guide will help you make confident, informed decisions every step of the way. From setting a smart budget to finding the right neighborhood in Cary, here’s what first-time homebuyers need to know before diving into the market.
💵 1.
Start with Your Budget and Get Pre-Approved
The Cary housing market moves quickly, and having a clear idea of your budget gives you a major advantage. Homes priced between $400K–$700K are in high demand here, especially in communities like Preston, Amberly, or Wellesley. Knowing what you can comfortably afford is the first step to narrowing your search and acting fast when the right home comes along.
Here’s how to prepare financially:
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Review your income, debts, and current expenses.
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Use online mortgage calculators to estimate your monthly payment.
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Get pre-approved by a reputable lender (preferably local to North Carolina) to strengthen your offer and show sellers you’re serious.
Most lenders suggest keeping your monthly housing costs below 30% of your gross income. That includes the mortgage, property taxes, and insurance.
🏦 2.
Explore Your Loan Options
North Carolina offers several loan programs designed to help first-time buyers in areas like Cary and Raleigh enter the market. Choosing the right loan type can save you money upfront and over the life of your loan.
Common loan options include:
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Conventional loans – Great for buyers with strong credit and at least 5–10% down.
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FHA loans – Ideal for buyers with lower credit or limited down payments.
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VA loans – Zero down for eligible veterans and military service members.
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USDA loans – These are available in some rural parts of Wake County and surrounding areas, and no down payment is required.
A knowledgeable lender can walk you through the pros and cons of each and help you find the best fit for your financial goals.
💸 3.
Don’t Forget the Hidden Costs
It’s easy to focus on just the purchase price, but owning a home in Cary or Raleigh comes with additional costs that you’ll want to factor into your decision.
Common expenses include:
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Closing costs (typically 2–5% of the purchase price)
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Property taxes (Wake County rates vary based on location and value)
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Homeowner’s insurance
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HOA fees if your home is in a planned community
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Ongoing maintenance (like HVAC servicing, roof upkeep, etc.)
Building a cushion for these costs now will help you avoid stress later.
📍 4.
Pick the Right Neighborhood in Cary or the Triangle
One of the biggest advantages of buying in the Cary/Raleigh area is the variety of communities available, each with its own lifestyle and vibe.
Things to consider:
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Commute time to RTP, Raleigh, or your local office
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School districts, even if you don’t have kids (they affect resale value)
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Amenities, like nearby parks, trails, shopping, and golf courses
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Future development, which may affect home value or traffic
Popular first-time buyer neighborhoods include Morrisville, Holly Springs, Southwest Cary, and East Raleigh. Take the time to explore different areas, both in person and online, to see what fits your lifestyle best.
🤝 5.
Work with a Real Estate Professional Who Knows the Cary Market
There’s no substitute for local expertise. An experienced Realtor who understands the Cary and Raleigh markets can save you time, money, and a ton of stress.
Here’s what a good agent (👋 like me!) will do:
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Set up a home search tailored to your exact needs
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Provide insight into pricing trends in different Cary neighborhoods
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Help you write strong offers (especially in competitive price ranges)
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Guide you through inspections, negotiations, and closing
This isn’t just a transaction—it’s one of the biggest decisions of your life. You deserve a trusted guide who knows the Triangle.
🏁 Final Thoughts
Buying your first home in Cary, NC is a major step toward long-term financial stability—and with the right preparation, it can be a smooth and exciting journey.
By understanding your budget, exploring your mortgage options, factoring in the real costs of ownership, choosing the right neighborhood, and working with a trusted agent, you’ll be ready to take on homebuying in North Carolina with confidence.
📩 If you’re considering buying your first home in Cary or the surrounding areas, send me a message, and I’ll send you my free First-Time Homebuyer Guide to help you get started.
