Are you looking to buy a home? Here are five essential tips for making the process as smooth as possible. This applies to buying a home in Smyrna, Murfreesboro, or any other Tennessee real estate. For more essential advice for buying a home, see my Buyer Services pages.
1. Get your finances in order
Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house. If you have had credit struggles, the suggestions in this recent post may help.
2. Find a house you can afford
Here’s Aaron’s rule: Don’t let anyone tell you how much to spend on your house. I’ll never pressure you to spend more than you are comfortable with. Review the full monthly cost—loan payment, taxes, insurance, any HOA dues, utilities, upkeep, and your other goals. Your lender can help you understand financing; you decide what fits your life.
3. Hire a professional
While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional agent than going it alone. Recruit a full-time agent who will be available not just on your schedule, but also be able to meet other real estate professionals, inspectors, etc. during the buying process. Find a professional who will have your interests at heart and can help you with strategies during the bidding process. Contact me for help with this if you are shopping for a home in Middle Tennessee. If you aren’t in my area, I will refer you to an expert near you.
4. Do your homework
Before making a bid, do some research to determine the state of the market at large. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an offer price that’s competitive, but also realistic. This is another area where it really pays to enlist the help of an awesome Realtor®.
5. Think long term
Think beyond move-in day. Consider how long you may stay, future upkeep, commute needs, and the costs of selling again. If schools matter to your decision, verify address-based assignments and research official resources. Hire an inspector whose scope fits the property and review the findings within your contract deadlines.
