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

* Separate multiple values with comma.

Sort by:

124 Gettysburg Ln Lafayette, TN 37083

Price $39,900
Beds 2
Baths 1
Living Area SqFt 980
Status Active
MLS # 1869156
Property Type Residential
 

113 N Oak St Hohenwald, TN 38462

Price $39,900
Beds 3
Baths 1
Living Area SqFt 1,600
Status Active
MLS # 1879170
Property Type Residential
 

4430 Lylewood Rd Indian Mound, TN 37079

Price $39,900
Beds 2
Baths 1
Living Area SqFt 788
Status Active
MLS # 1880196
Property Type Residential
 

2431 Highway 130 West Petersburg, TN 37144

Price $39,500
Beds 2
Baths 1
Living Area SqFt 828
Status Active
MLS # 1856663
Property Type Residential
 

466 Smartt Station Rd Morrison, TN 37357

Price $39,500
Beds 2
Baths 1
Living Area SqFt 672
Status Active Under Contract
MLS # 1857309
Property Type Residential
 

1386 Ardmore Hwy Taft, TN 38488

Price $39,000
Beds 2
Baths 1
Living Area SqFt 1,269
Status Active Under Contract
MLS # 1873801
Property Type Residential
 

3003 Ray St Westmoreland, TN 37186

Price $39,000
Beds 1
Living Area SqFt 832
Status Active
MLS # 1878257
Property Type Residential
 
 

224 Mcclure St Lewisburg, TN 37091

Price $38,900
Beds 3
Baths 2
Living Area SqFt 1,115
Status Active
MLS # 1801108
Property Type Residential
 

1306 Moccasin Creek Rd Waynesboro, TN 38485

Price $38,500
Beds 3
Baths 2
Living Area SqFt 1,280
Status Active
MLS # 1864700
Property Type Residential
 

2070 Petway Rd Ashland City, TN 37015

Price $38,000
Beds 2
Baths 1
Living Area SqFt 980
Status Active
MLS # 1875341
Property Type Residential
 

205 Flynns Creek Rd Gainesboro, TN 38562

Price $37,500
Baths 2
Living Area SqFt 1,994
Status Active
MLS # 1838967
Property Type Residential
 
 

2465 Wartrace Hwy Whitleyville, TN 38588

Price $37,500
Beds 1
Baths 1
Living Area SqFt 420
Status Active
MLS # 1839823
Property Type Residential
 

150 Sykes Rd Brush Creek, TN 38547

Price $37,500
Beds 2
Baths 1
Living Area SqFt 980
Status Active
MLS # 1861267
Property Type Residential
 

638 2nd Ave N Lewisburg, TN 37091

Price $37,499
Beds 2
Baths 1
Living Area SqFt 832
Status Active
MLS # 1829890
Property Type Residential
 

314 Mcclure St Lewisburg, TN 37091

$37,499 - 3Br/1Ba -  for Sale in Gordon S 2nd Addn, Lewisburg
New
Price $37,499
Beds 3
Baths 1
Living Area SqFt 932
Status Active
MLS # 1880700
Property Type Residential
 

409 Plum St Clarksville, TN 37042

Price $37,000
Beds 3
Baths 1
Living Area SqFt 1,093
Status Active
MLS # 1879735
Property Type Residential
 

900 Shearor St Clarksville, TN 37040

Price $36,900
Beds 4
Baths 1
Living Area SqFt 1,151
Status Active
MLS # 1873041
Property Type Residential
 

105 Woodland Dr Mcminnville, TN 37110

Price $36,900
Beds 2
Baths 1
Living Area SqFt 906
Status Active
MLS # 1790368
Property Type Residential
 

808 Liggett Ave Lewisburg, TN 37019

Price $36,000
Beds 2
Baths 1
Living Area SqFt 932
Status Active
MLS # 1879722
Property Type Residential
 

109 21st Ave W Springfield, TN 37172

Price $35,900
Beds 2
Baths 1
Living Area SqFt 879
Status Active
MLS # 1880545
Property Type Residential
 

60 Wilburn Hollow Rd Riddleton, TN 37151

Price $35,500
Beds 3
Baths 1
Living Area SqFt 1,152
Status Active
MLS # 1837944
Property Type Residential
 

0 Sr 56 Coalmont, TN 37313

Price $35,000
Beds 1
Baths 1
Living Area SqFt 680
Status Active
MLS # 1868193
Property Type Residential
 

835 Harris Rd Dickson, TN 37055

Price $35,000
Beds 3
Baths 2
Living Area SqFt 1,080
Status Active
MLS # 1853674
Property Type Residential
 

2911 Red Bird Ln Nunnelly, TN 37137

Price $35,000
Beds 1
Baths 1
Living Area SqFt 560
Status Active
MLS # 1860573
Property Type Residential
 

124 Cedar St Dover, TN 37058

Price $35,000
Beds 2
Baths 2
Living Area SqFt 864
Status Active
MLS # 1865458
Property Type Residential
 

307 Cedar Ct Clarksville, TN 37042

Price $35,000
Beds 2
Baths 1
Living Area SqFt 882
Status Active
MLS # 1867801
Property Type Residential
 

5239 Old Hydes Ferry Pike Nashville, TN 37218

Price $35,000
Beds 3
Baths 1
Living Area SqFt 576
Status Active
MLS # 1874165
Property Type Residential
 

9 Reed Rd. Elora, TN 37328

Price $34,999
Beds 3
Baths 1
Living Area SqFt 1,466
Status Active
MLS # 1872051
Property Type Residential
 

101 Spence Lane Hilham, TN 38568

Price $34,900
Beds 1
Living Area SqFt 730
Status Active
MLS # 1795363
Property Type Residential
 
 

114 Couch Ln Shelbyville, TN 37160

Price $33,900
Beds 3
Baths 1
Living Area SqFt 948
Status Active
MLS # 1873938
Property Type Residential
 

2149 Halls Mill Rd Unionville, TN 37180

$33,500 - 2Br/1Ba -  for Sale in N/a, Unionville
New
Price $33,500
Beds 2
Baths 1
Living Area SqFt 797
Status Active
MLS # 1881659
Property Type Residential
 

133 Olive St Mount Pleasant, TN 38474

Price $33,000
Beds 4
Baths 1
Living Area SqFt 1,742
Status Active
MLS # 1868477
Property Type Residential
 

254 D Morgan Rd Russellville, KY 42276

Price $32,900
Beds 2
Baths 1
Living Area SqFt 768
Status Active
MLS # 1863200
Property Type Residential
 

105 7th Ave Sw Winchester, TN 37398

Price $32,500
Beds 3
Baths 1
Living Area SqFt 1,216
Status Active
MLS # 1849061
Property Type Residential
 

1229 Greenfield Dr Clarksville, TN 37040

Price $32,500
Beds 2
Baths 1
Living Area SqFt 630
Status Active
MLS # 1858547
Property Type Residential
 

301 Reed Rd Summertown, TN 38483

Price $32,500
Beds 3
Baths 2
Living Area SqFt 1,350
Status Active
MLS # 1867111
Property Type Residential
 

100 Mcreynolds Rd Mcminnville, TN 37110

Price $32,500
Beds 2
Baths 1
Living Area SqFt 672
Status Active
MLS # 1870513
Property Type Residential
 

57 51st Ave Gruetli Laager, TN 37339

Price $32,450
Beds 3
Baths 1
Living Area SqFt 1,375
Status Active
MLS # 1852279
Property Type Residential
 

1348 Paradise Hill Rd Clarksville, TN 37040

$32,300 - 5Br/2Ba -  for Sale in None, Clarksville
New
Price $32,300
Beds 5
Baths 2
Living Area SqFt 2,100
Status Active
MLS # 1880672
Property Type Residential
 

200 S Bratton St Decherd, TN 37324

Price $30,000
Beds 4
Baths 1
Living Area SqFt 1,640
Status Active
MLS # 1814573
Property Type Residential