Being a first-time buyer is exciting—but it can also be overwhelming, too. It’s totally normal to have more than a few questions about the process, especially when the housing market is this hot. That’s why we’re here to give you the answers you’re looking for!
Here’s What Every First-Time Buyer Needs to Know
There are plenty of nuances that come with buying your first home in Northeastern Mississippi. Luckily, we have a few tidbits that can help you get started on the right foot and make your entire transaction a breeze. Here are five of the most important tips to keep in mind if you’re a first-time buyer.
Get pre-approved for your loan
Before you even start looking at homes online, it’s crucial to get pre-approved for your mortgage. Getting pre-approved means that a lender has checked your credit and personal information, and they’ve approved you to borrow a certain amount of money with specific terms.
You can get pre-approved online in just a few steps, and it won’t take long to hear back from the lender. Having a pre-approval letter in-hand also shows agents and sellers that you’re serious about buying a home!
Check out local loan programs
Many first-timers make the mistake of not shopping around for a home loan. There are hundreds of different mortgages out there with varying down payment requirements, interest rates, and terms, so it’s worth searching for the right fit.
The state of Mississippi also has a variety of programs tailored towards first-time buyers. In fact, the Mississippi Home Corporation offers both grants and loans, including their Smart Solution and MRB 7 programs.
Interview a few real estate agents
You shouldn’t just shop around for loans and homes—it’s crucial to interview a few local agents, too! Many homebuyers choose to work with the first agent they encounter, but making such a quick decision doesn’t always work out.
Start out by researching agents in your target area and scheduling time to chat with a few of them. Don’t be afraid to ask some tough questions, and make sure they have experience working with first-time buyers in your price range. Remember, your agent will help you through every step of the buying process, so choose wisely!
Outline your wants and needs
It’s okay to dream about what you’d love to have in your first home, but don’t forget to be realistic. Sit down and create a list of needs, wants, and would-likes before you start your search. That way, you’ll be able to prioritize what you’re really looking for in a house.
As you’re making your list, be sure to keep your agent in the loop. They can help you determine what’s available in your price range and find some properties that you might love.
Focus on location
You can change a lot of things about a home…except its location. Deciding on where you live is just as important as the house itself, so be sure to do plenty of research on Northeastern Mississippi’s charming communities as you narrow down your options.
Not sure where to start? As you explore potential neighborhoods, be sure to consider factors like commute times, schools, amenities, and what’s nearby. And if you’re new to the area, your agent can share valuable information on what it’s like to live in Northeastern Mississippi.
Ready to Make a Move?
If you’re a first-time buyer, J.Morris Realty would love to help you find your dream home! We’re here to answer any questions you might have, and we have plenty of resources to get you started. Just reach out to us today to embark on your real estate journey!