For first time home buyers, the process of buying a first Knoxville home can be exciting, and at times a little overwhelming. Unfortunately, many Knoxville first time home buyers fall victim to rookie mistakes that they regret later on. So, here are 5 rookie mistakes Knoxville first time home buyers make and why you may regret them later on.
Rookie Mistake #1: Unrealistic Expectations For The Future
First time home buyers often struggle with their expectations of how long they plan to stay in a house. While there are many great things about owning a home, those things are only great if you stay in the home long enough to recoup the costs of buying a Knoxville home. One thing every Knoxville first time home buyer should consider is how long they plan to stay in a house. If you plan to stay in home less than 3 to 5 years, renting may be the better option for you.
Rookie Mistake #2: Waiting Too Long To Talk To Get Pre-Approved
For first time buyers, one of the most important first steps in buying a home is to talk to a mortgage professional. It can be very helpful to talk to someone from the very beginning of the process to know how much you can afford and to have expectations of what your monthly payment will be. It will make your home search easier and help lower your stress levels.
Rookie Mistake #3: Taking A Backseat In The Buying Process
Buying a Knoxville home for sale is one of the biggest purchase you will ever make. It is important that as a buyer you are well-informed and proactive. Be sure to ask questions throughout the process and seek out professional advice when necessary. One of the biggest regrets you can make as a buyer is to say, “I wish I would have known.”
Rookie Mistake #4: Not Finding An Agent Of Your Own
One of the best things you can do for yourself as a buyer is to find yourself an agent of your own. An agent can help you locate the right Knoxville home for sale, negotiate the contract, and help you navigate any problems along the way. Unfortunately, many buyers don’t realize that they can hire an agent of their own.
Rookie Mistake #5: Failing To Consider Additional Expenses Of Owning A Home
Owning a Knoxville home is more than just the mortgage payment. It is property taxes, insurance, interest payments, and ever homeowner’s association dues. In addition, homes require maintenance unexpectedly so be sure to have an emergency fund set up.
Are you ready to buy your first Knoxville home for sale? If there is anyway Knoxville Home Team can assist you, please let us know, you can give Rick at call at 865-696-9002 or send an email to [email protected]. Kati can be contacted at 865-392-5880 or via email at [email protected]. Also, be sure to check out our Knoxville home search page to see what homes are for sale in the area.