1. Decide to buy.Although there are many good reasons for you to buy a home, wealth building ranks among the top of the list. We call home ownership the best “accidental investment” most people ever make. But, we believe when it is done right, home ownership becomes an “intentional investment” that lays the foundation for a life of financial security and personal choice. There are solid financial reasons to support your decision to buy a home, and, among these, equity buildup, value appreciation, and tax benefits stand out.

Base your decision to buy on facts, not fears.

  1. If you are paying rent, you very likely can afford to buy
  2. There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run
  3. The lack of a substantial down payment doesn’t prevent you from making your first home purchase
  4. A less-than-perfect credit score won’t necessarily stop you from buying a home
  5. The best way to get closer to buying your ultimate dream home is to buy your first home now
  6. Buying a home doesn’t have to be complicated – there are many professionals who will help you along the way

2. Hire your agent.

The typical real estate transaction involves at least two dozen separate individuals-insurance assessors, mortgage brokers and underwriters, inspectors, appraisers, escrow officers, buyer’s agents, seller’s agents, bankers, title researchers, and a number of other individuals whose actions and decisions have to be orchestrated in order to perform in harmony and get a home sale closed. It is the responsibility of your real estate agent to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.

Seven main roles of your real estate agentA Buyer’s Real Estate Agent:

  1. Educates you about your market.
  2. Analyzes your wants and needs.
  3. Guides you to homes that fit your criteria.
  4. Coordinates the work of other needed professionals.
  5. Negotiates on your behalf.
  6. Checks and double-checks paperwork and deadlines.
  7. Solves any problems that may arise.

Eight important questions to ask your agent

Qualifications are important. However, finding a solid, professional agent means getting beyond the resume, and into what makes an agent effective. Use the following questions as your starting point in hiring your licensed, professional real estate agent:

  1. Why did you become a real estate agent?
  2. Why should I work with you?
  3. What do you do better than other real estate agents?
  4. What process will you use to help me find the right home for my particular wants and needs?
  5. What are the most common things that go wrong in a transaction and how would you handle them?
  6. What are some mistakes that you think people make when buying their first home?
  7. What other professionals do you suggest we work with and what are their credentials?
  8. Can you provide me with references or testimonials from past clients?

3. Secure financing.

While you may find the thought of home ownership thrilling, the thought of taking on a mortgage may be downright chilling. Many first-time buyers start out confused about the process or nervous about making such a large financial commitment.

From start to finish, you will follow a six-step, easy-to-understand process to securing the financing for your first home.Six steps to Financing a Home

  1. Choose a loan officer (or mortgage specialist).
  2. Make a loan application and get preapproved.
  3. Determine what you want to pay and select a loan option.
  4. Submit to the lender an accepted purchase offer contract.
  5. Get an appraisal and title commitment.
  6. Obtain funding at closing.

4. Find your home.

You may think that shopping for homes starts with jumping in the car and driving all over town. And it’s true that hopping in the car to go look is probably the most exciting part of the home-buying process. However, driving around is fun for only so long-if weeks go by without finding what you’re looking for, the fun can fade pretty fast. That’s why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms.

Questions to ask yourself

  1. What do I want my home to be close to?
  2. How much space do I need and why?
  3. Which is more critical: location or size?
  4. Would I be interested in a fixer-upper?
  5. How important is home value appreciation?
  6. Is neighborhood stability and priority?
  7. Would I be interested in a condo?
  8. Would I be interested in new home construction?
  9. What features and amenities do I want? Which do I really need?

5. Make an offer.

When searching for your dream home, you were just that-a dreamer. Now that you’re writing an offer, you need to be a businessperson. You need to approach this process with a cool head and a realistic perspective of your market. The three basic components of an offer are price, terms, and contingencies (or “conditions” in Canada).

Price-the right price to offer must fairly reflect the true market value of the home you want to buy. Your agent’s market research will guide this decision.

Terms-the other financial and timing factors that will be included in the offer.

Terms fall under six basic categories in a real estate offer:

  1. Schedule-a schedule of events that has to happen before closing.
  2. Conveyances-the items that stay with the house when the sellers leave.
  3. Commission-the real estate commission or fee, for both the agent who works with the seller and the agents who works with the buyer.
  4. Closing costs-it’s standard for buyers to pay their closing costs, but if you want to roll the costs into the loan, you need to write that into the contract.
  5. Home warranty-this covers repairs or replacement of appliances and major systems. You may ask the seller to pay for this.
  6. Earnest money-this protects the sellers from the possibility of your unexpectedly pulling of the deal and makes a statement about the seriousness of your offer.

6. Perform due diligence.

Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it’s supposed to. That’s why home owner’s insurance and property inspections are so important.

A home owner’s insurance policy protects you in two ways:

  1. Against loss or damage to the property itself
  2. liability in case someone sustains an injury while on your property

The property inspection should expose the secret issues a home might hide so you know exactly what you’re getting into before you sign your closing papers.

  • Your major concern is structural damage.
  • Don’t sweat the small stuff. Things that are easily fixed can be overlooked.
  • If you have a big problem show up in your inspection report, you should bring in a specialist. If the worst-case scenario turns out to be true, you might want to walk away from the purchase.

7. Close.

The final stage of the home buying process is the lender’s confirmation of the home’s value and legal statue, and your continued credit-worthiness. This entails a survey, appraisal, title search, and a final check of your credit and finance. Your agent will keep you posted on how each if progressing, but your work is pretty much done.

You just have a few preclosing responsibilities:

  1. Stay in control of your finances.
  2. Return all phone calls and paperwork promptly.
  3. Communicate with your agent at least once a week.
  4. Several days before closing, confirm with your agent that all your documentation is in place and in order.
  5. Obtain certified funds for closing.
  6. Conduct a final walk-through.

On closing day, with the guidance of a settlement agent and your agent, you’ll sign documents that do the following:

  1. Finalize your mortgage.
  2. Pay the seller.
  3. Pay your closing costs.
  4. Transfer the title from the seller to you.
  5. Make arrangements to legally record the transaction as a public record.

As long as you have clear expectations and follow directions, closing should be a momentous conclusion to your home-searching process and commencement of your home-owning experience.
8. Protect your investment.

Throughout the course of your home-buying experience, you’ve probably spent a lot of time with your real estate agent and you’ve gotten to know each other fairly well. There’s no reason to throw all that trust and rapport out the window just because the deal has closed. In fact, your agent wants you to keep in touch.

Even after you close on your house, you agent can still help you:

  1. Handle your first tax return as a home owner.
  2. Find contractors to help with home maintenance or remodeling.
  3. Help your friends find homes.
  4. Keep track of your home’s current market value.

Attention to you home’s maintenance needs is essential to protecting the long-term value of your investment.

Home maintenance falls into two categories:

  1. Keeping it clean: Perform routine maintenance on your home’s systems, depending on their age and style.
  2. Keeping an eye on it: Watch for signs of leaks, damage, and wear. Fixing small problems early can save you big money later.

 Search All Homes

Sort by:

214 N Main St Cedar Hill, TN 37032

Beds 3
Baths 2
Living Area SqFt 1,600
Status Under Contract - Not Showing
MLS # RTC2694487
Property Type Single Family Residence
 
 
 

107 Wayne Ct Hendersonville, TN 37075

Beds 3
Baths 2
Living Area SqFt 1,198
Status Under Contract - Not Showing
MLS # RTC2740256
Property Type Single Family Residence
 
 
 

2365 New Holland Cir Murfreesboro, TN 37128

Beds 3
Baths 3
Living Area SqFt 1,496
Status Under Contract - Not Showing
MLS # RTC2748395
Property Type Townhouse
 
 
 

406 Jakes Ave Murfreesboro, TN 37130

Beds 2
Baths 1
Living Area SqFt 1,100
Status Under Contract - Not Showing
MLS # RTC2706976
Property Type Single Family Residence
 
 
 

4177 Dobbins Pike Portland, TN 37148

Beds 2
Baths 2
Living Area SqFt 1,984
Status Under Contract - Not Showing
MLS # RTC2743451
Property Type Manufactured On Land
 
 
 

1935 Eastlawn Rd Madisonville, KY 42431

Beds 3
Baths 2
Living Area SqFt 1,652
Status Under Contract - Not Showing
MLS # RTC2705256
Property Type Single Family Residence
 
 
 

90 Long Creek Rd Lafayette, TN 37083

Beds 3
Baths 2
Living Area SqFt 1,330
Status Under Contract - Not Showing
MLS # RTC2750705
Property Type Single Family Residence
 
 
 

8833 Enterprise Rd Mount Pleasant, TN 38474

Beds 3
Baths 2
Living Area SqFt 1,280
Status Under Contract - Not Showing
MLS # RTC2747522
Property Type Manufactured On Land
 
 
 

210 Rigney Dr Manchester, TN 37355

Beds 3
Baths 2
Living Area SqFt 1,757
Status Under Contract - Not Showing
MLS # RTC2744969
Property Type Single Family Residence
 
 
 

1223 Oak Dr Manchester, TN 37355

Beds 3
Baths 2
Living Area SqFt 1,278
Status Under Contract - Not Showing
MLS # RTC2744970
Property Type Single Family Residence
 
 
 

6034 Highway 48 N Cumberland Furnace, TN 37051

Beds 3
Baths 2
Living Area SqFt 1,112
Status Under Contract - Not Showing
MLS # RTC2746010
Property Type Manufactured On Land
 
 
 

6539 Windrow Rd Rockvale, TN 37153

Beds 3
Baths 2
Living Area SqFt 2,404
Status Under Contract - Not Showing
MLS # RTC2745985
Property Type Single Family Residence
 
 
 

303 Florida Ave Mount Pleasant, TN 38474

Beds 2
Baths 2
Living Area SqFt 1,136
Status Under Contract - Not Showing
MLS # RTC2736371
Property Type Single Family Residence
 
 
 

12 Kelso Mulberry Rd Mulberry, TN 37359

Beds 5
Baths 2
Living Area SqFt 2,794
Status Under Contract - Not Showing
MLS # RTC2748543
Property Type Single Family Residence
 
 
 

1505 Cardinal Ln Mount Juliet, TN 37122

Beds 3
Baths 2
Living Area SqFt 2,079
Status Under Contract - Not Showing
MLS # RTC2709117
Property Type Single Family Residence
 
 
 

1470 Dickinson Rd Trenton, KY 42286

Beds 4
Baths 2
Living Area SqFt 2,900
Status Under Contract - Not Showing
MLS # RTC2754180
Property Type Single Family Residence
 
 
 

305 Stewart St Franklin, TN 37064

Beds 3
Baths 2
Living Area SqFt 2,255
Status Under Contract - Not Showing
MLS # RTC2744876
Property Type Single Family Residence
 
 
 

4833 Shasta Dr Old Hickory, TN 37138

Beds 3
Baths 3
Living Area SqFt 2,550
Status Under Contract - Not Showing
MLS # RTC2749487
Property Type Single Family Residence
 
 
 

118 Carol Dr Murfreesboro, TN 37128

Beds 3
Baths 3
Living Area SqFt 2,610
Status Under Contract - Not Showing
MLS # RTC2745899
Property Type Single Family Residence
 
 
 

8336 Horseshoe Rd Cross Plains, TN 37049

Beds 2
Baths 2
Living Area SqFt 2,292
Status Under Contract - Not Showing
MLS # RTC2746735
Property Type Single Family Residence
 
 
 

2970 Rutledge Falls Rd Tullahoma, TN 37388

Beds 3
Baths 2
Living Area SqFt 2,115
Status Under Contract - Not Showing
MLS # RTC2694968
Property Type Single Family Residence
 
 
 

2540 Antrim Cir Columbia, TN 38401

Beds 4
Baths 4
Living Area SqFt 3,375
Status Under Contract - Not Showing
MLS # RTC2749167
Property Type Single Family Residence
 
 
 

1201 Mg England Rd Manchester, TN 37355

Beds 3
Baths 2
Living Area SqFt 1,621
Status Under Contract - Not Showing
MLS # RTC2748387
Property Type Manufactured On Land
 
 
 

129 Sunny Slope Rd Woodbury, TN 37190

Beds 4
Baths 3
Living Area SqFt 1,462
Status Under Contract - Not Showing
MLS # RTC2744790
Property Type Single Family Residence
 
 
 

60 Trousdale Ferry Pike Gordonsville, TN 38563

Beds 3
Baths 2
Living Area SqFt 1,735
Status Under Contract - Not Showing
MLS # RTC2747490
Property Type Single Family Residence
 
 
 

160 Billy Benton Way Sewanee, TN 37375

Beds 2
Baths 2
Living Area SqFt 1,776
Status Under Contract - Not Showing
MLS # RTC2749186
Property Type Single Family Residence
 
 
 

826 Colfax Dr Nashville, TN 37214

Beds 3
Baths 1
Living Area SqFt 1,484
Status Under Contract - Not Showing
MLS # RTC2748748
Property Type Single Family Residence
 
 
 

2941 Browns Lake Rd Goodlettsville, TN 37072

Beds 3
Baths 2
Living Area SqFt 1,344
Status Under Contract - Not Showing
MLS # RTC2752135
Property Type Modular Home
 
 
 

1112 Allisona Rd Eagleville, TN 37060

Beds 4
Baths 4
Living Area SqFt 5,356
Status Under Contract - Not Showing
MLS # RTC2745594
Property Type Single Family Residence
 
 
 

1505 Three Island Rd Walling, TN 38587

Beds 3
Baths 1
Living Area SqFt 1,390
Status Under Contract - Not Showing
MLS # RTC2752284
Property Type Single Family Residence
 
 
 

5760 Highway 231 S Castalian Springs, TN 37031

Beds 3
Baths 3
Living Area SqFt 2,610
Status Under Contract - Not Showing
MLS # RTC2751107
Property Type Single Family Residence
 
 
 

494 Eastover Rd Lebanon, TN 37090

Beds 3
Baths 2
Living Area SqFt 3,008
Status Under Contract - Not Showing
MLS # RTC2755621
Property Type Single Family Residence
 
 
 

830 Covington Grove Blvd Bowling Green, KY 42104

Beds 6
Baths 6
Living Area SqFt 6,598
Status Under Contract - Not Showing
MLS # RTC2752823
Property Type Single Family Residence
 
 
 

690 Browning Branch Rd Hartsville, TN 37074

Beds 2
Baths 1
Living Area SqFt 1,036
Status Under Contract - Not Showing
MLS # RTC2753392
Property Type Single Family Residence
 
 
 

201 Bellview Rd Taft, TN 38488

Beds 2
Baths 1
Living Area SqFt 1
Status Under Contract - Not Showing
MLS # RTC2690270
Property Type Single Family Residence
 
 
 

41 Nolen Rd Lynchburg, TN 37352

Beds 4
Baths 3
Living Area SqFt 3,169
Status Under Contract - Not Showing
MLS # RTC2750320
Property Type Single Family Residence
 
 
 

369 Adams Ridge Ln Woodbury, TN 37190

Beds 4
Baths 4
Living Area SqFt 3,378
Status Under Contract - Not Showing
MLS # RTC2751349
Property Type Single Family Residence
 
 
 

8384 Burleson Ln Murfreesboro, TN 37129

Beds 3
Baths 3
Living Area SqFt 2,900
Status Under Contract - Not Showing
MLS # RTC2746023
Property Type Single Family Residence
 
 
 

110 Westview Dr Spring Hill, TN 37174

Beds 2
Baths 2
Living Area SqFt 1,032
Status Under Contract - Not Showing
MLS # RTC2747344
Property Type Townhouse
 
 
 

116 Raspberry Ln Smyrna, TN 37167

Beds 3
Baths 3
Living Area SqFt 2,675
Status Under Contract - Not Showing
MLS # RTC2753984
Property Type Single Family Residence