CarrboroWeb- Carrboro and Chapel Hill, North Carolina- Layman's Guide to Real Estate- Property Type

The The Layman's Guide to Buying Real Estate in Chapel Hill-
A Quick guide to get you started!

What kind of home and Property?
Property #1

We knew what our needs were, but did not limited ourselves to looking at only one type of property. The things that we knew we wanted were: 1. At least 3 bedrooms(we had 3 bedrooms plus a 350 sq ft outbuilding that housed my office and studio)- we did not want to move into less space than we had now. 2. There had to be land- a minimum of ½ acre, but the more the better. We were living on 1 acre and liked the privacy that it offered. 3. Wanted to be in Chapel Hill School district- but if we found a nice place that wasn't, we would still consider it. 4. It would have to have a kitchen open to the living areas so we could cook and entertain at the same time…And 5. It would have to be able to house both my office and Rebecca's hair salon.

Over a six month period we looked at a number of properties…all very different. In the end my agent resigned out of frustration because she didn't know what we wanted, but in reality every house we looked at had to pass the stipulations I outlined above.

What were the houses we looked at and why did we consider them?

Property #Schoolhouse Road

This property was less than 4 miles from town. It was a 3 bedroom, 1 bath house that needed some renovation and an old mill house(less than 1000 sq ft) that had been moved from Chapel Hill. The land was five acres and in Chapel Hill Schools. There was some weird foreclosure deal set up and no one really knew the details, but they wanted $130,000 in cash(no financing). We liked the property and saw the potential. We heard that someone made an offer that was refused but their agent wouldn't tell us what the offer was. We ended up passing on that but found out that a friend of ours had purchased it and is now renovating it to sell as a spec house.

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