This just in, excellent news for home buyers: Forbes recently released the “Most and Least Expensive Cities for Homeowners” and Nashville was voted as one of the top ten least expensive cities to own home. The cost of home ownership, partnered with excellent school systems, and low property tax continues to make Middle Tennessee a desirable location of growing businesses, corporations and families.
According the Greater Nashville Area Association of Realtors there is over a twelve month inventory of homes in the Middle Tennessee area, you have so many options when you are interested in purchasing.
Unfortunately buying a home isn’t just buying a home and that’s where Andy Brown and The DeSelms Team come in.
Preparation. First, you probably want to check your credit and see where you stand. Credit scores range from 800 being excellent to 500 being fair. With tougher mortgage standards, you want your credit to be as close to excellent as possible. Another step you should take is interviewing real estate agents. You want to find an agent who is familiar with different types of homes (i.e. condos, townhomes, single family) and different areas of Middle Tennessee. The DeSelms Team has helped more families buy homes in Middle Tennessee than any other agents in the area. If you are starting the process, call Andy Brown today or check out www.BuyNashville.net for a list of the most recent properties in middle Tennessee.
Loans. When the mortgage industry tightening up on loans; don’t fear. Shop around … See what kind of loan is best for you and your situation. There are so many options out there, call your mortgage lender and ask what you could qualify for. While 100% loans are no longer an option, federal programs have good options for first time homebuyers, check out The Housing Fund at www.nashvillehousingfund.org. There is also a $7,500 tax credit available for first time buyers, visit www.federalhousingtaxcredit.com for more information.
Showings. Narrow down your criteria. Nail down an area of town, a style of house, and a price range. It would also be smart to drive by all the houses that you think you may be interested in, before actually scheduling showings. Once your agent sets up showings for you, you should try to see less than eight properties … You want to be sure to remember what you are looking at. Have your camera and notepad available. Take pictures, take notes.
Hidden Fees. Well, there are not really hidden, just often times unexpected. You should be prepared to pay earnest money, home inspection, appraisal, and possible down payment costs. While most times the seller’s will pay the buyer’s closing costs, title search, and termite; there are still things that the buyer will be responsible for. While most of these expenses are not that expensive, you should be prepared.
Patience. While sometimes you can buy and close on a home within thirty days that is not very realistic. But, don’t worry, if you are in hurry Andy Brown and The DeSelms Team can help expedite the process. In most cases, however, you should be patient with the inspections, the loan process, and the closing date. The DeSelms Team has a staff of closing coordinators to walk you through the process and make it as smooth as possible for your purchase.
For a free home evaluation, guidance, or answers to questions visit www.BuyNashville.net.
