With mortgage rates still historically low, it is no shock there are still many Knoxville first time buyers still looking to buy homes. Buying your first Knoxville home can be exciting and overwhelming. Unfortunately, along the way, many first time home buyers make mistakes along the way. Here are 3 financial fails that Knoxville first time home buyers make.
Failing To Educate Yourself On Your Loan Options
Prior to starting your Knoxville home search, it is extremely important that you educate yourself one what loan options you might have. It can be helpful to sit down with a loan officer to understand what loans you qualify for and ask any questions you might have. There are many different loan programs out there to help you buy a Knoxville home for sale, but you won’t know your options without talking someone.
Failing To Hire Your Own Realtor
Many first time home buyers don’t know that they can hire their own realtor to represent solely in the transaction. Even better, hiring a buyer’s agent costs a buyer absolutely nothing. Not only will having your own buyer’s agent make finding a Knoxville home easier, it is also in your best interest to be represented by one person who has your best interest at heart.
Failing To Consider Resale Value
One thing many first time home buyers fail to consider is resale value. While you may find that you are absolutely in love with a home, you must always consider what it may mean to sell the home in the future. Good resale value will help protect the investment you’ve made in the home.