First time home buyer, looking to buy in the RTP area (Raleigh: apartment, chapel)

[tarheel01]

Hi all,

I'm looking to purchase a home/town home/apartment in the RTP area within the next 4-5 months. I'm 23 years old, and obviously a first time buyer. While I have lived in NC in the past, it was for school, therefore I don't know the area extremely well.

I was hoping to get some recommendations regarding areas I should be looking at. I am able to put around $35,000 down, and likely a little more if I find a place I really, really like!

Any thoughts?

Thanks in advance everyone!

[carolinadawg2]

First, you should post on the Raleigh, Durham, Chapel Hill board:

https://www.city-data.com/forum/ralei...pel-hill-cary/

Second, where do you/will you be working? How long of a commute do you want? What other factors are important to you? What type of neighborhood? In town? Suburbs?

Third, how much do you want to spend?

[tarheel01]

Originally Posted by carolinadawg2

First, you should post on the Raleigh, Durham, Chapel Hill board:

https://www.city-data.com/forum/ralei...pel-hill-cary/

Second, where do you/will you be working? How long of a commute do you want? What other factors are important to you? What type of neighborhood? In town? Suburbs?

Third, how much do you want to spend?

My apologies for posting in the wrong section. I actually will likely not be living there for another year or two (I have family there that will take care of the place for now). I live/work in another state, and basically have a rent-free situation for the foreseeable future.

When I do move back, I would likely be working in Raleigh/Cary. I'm quite open in terms of the type of neighborhood. The main criteria is that it's not old (ideally, less than 10 years old). Good schools is a plus, even though I don't have kids now (obviously could change in the future). If I understand correctly, 20% down is usually required, right?

With my $35,000 down payment, I'd say $175,000 or so is what I am looking for. Now, if I could put a slightly smaller down payment (15%), I would be open to that (and then I'd be looking at places that cost around $200,000).