When you start searching for West Knoxville homes for sale, you will receive a lot of different advice from people. Everyone from your family, your friends, and co-workers will want to give their two cents.
While all of this advice comes with the best intentions, there is a lot of very bad advice out there. Here are 5 common lies to avoid during your West Knoxville home search.
Spring Is The Best Time To Buy
There is some truth to this West Knoxville home search myth. Spring and summer tend to be some of the busiest times to buy a West Knoxville home. The weather is warmer so more people want to consider moving.
Still, this doesn’t mean that spring and summer are the only good times of the year to buy a house. In some cases, spring and summer can be tougher to buy a house. With more buyers out on the market, there can be more competition for buyers.
If it works best for you to buy a house and spring and summer, there is nothing wrong with that. But, if you need to buy at another time of year, there’s nothing wrong with that. People buy and sell homes 365 days a year.
Always Offer Less Than The Asking Price
When you’ve finally found the perfect home after searching countless West Knoxville homes for sale, it’s time to make an offer. Many buyers are tempted to simply offer less on a home because they feel like they shouldn’t offer the asking price right out of the gate.
The price you offer on a home really depends on a few different things, which include (a) what you really feel the home is worth (b) current competition for the home, and if it’s a seller’s market (c) and, how much your willing to pay for a home. When you find a home you love, talk with your Realtor to see what they advise on price.
If you feel a home is worth the asking price, there is nothing wrong with writing at asking price. And, if you’re buying in a seller’s market and there’s competition for the home, you want to go in with you best offer out of the gate so that you don’t lose the home.
You Must Stay In A Home At Least 5 Years
The general rule when it comes to buying a West Knoxville home is that you should plan to stay in the house at least 3 to 5 years.
The truth to that adage is that you want to have enough equity in the home when it comes time to sell it. Generally, for that to happen, you want to stay in the home for at least 3 to 5 years.
Still, there are certain situations where you may not need to stay as long to recoup that money. If you’ve made some additional principal payments, you can cut down on your principal balance by quite a bit. In addition, if you put a decent amount of money down on a house, you’ve also got a bit of equity already.
Don’t Buy The First House You Look At
All buyers are different when it comes to their West Knoxville home search. Some buyers know exactly what they want and when the right house comes on the market, they’re quick to make a move, while other buyers take some time to find the right house.
If you love the first home you look at, there is nothing wrong with buying it. There’s no use at looking at 10 more homes and if you already are in love with the first house you see.
You Don’t Need A Realtor
There are some buyers out there that believe you don’t need a Realtor. While it’s ultimately a buyer’s decision to make, a Realtor is a huge asset during your home search. Not to mention, as a buyer, you can hire your own Realtor and (in most cases) it costs you absolutely nothing. A Realtor is there to help you make the largest purchase of your life.
Bottom Line – Do A Fact Check
When it comes to buying a West Knoxville home, there is a lot of advice out there. As a buyer, you’ve got to take some advice with a grain of salt. While advice is offered up with the best intentions, it still doesn’t always mean it’s good advice. Before taking advice to heart, be sure to do some fact checking on your own.
Are you interested in buying a West Knoxville home for sale? If so, please do not hesitate to let us know. Rick can be contacted at 865-696-9002 or via email at [email protected]. Kati can be contacted at 865-696-1888 or via email at [email protected] Also, be sure to check out our West Knoxville home search page to see what homes are for sale in the area.