No matter if it’s categorized as a “Seller’s Market” right now, buying real estate in Nashville is still a great investment. I’m sure you’re well aware of the rising home prices and the overall competitive nature of the market. There’s also an abundance of options to help you find your dream home. But with so many homes and realtors out there, how do you know where to start? These top 5 tips for buying real estate in Nashville will give you the perfect starter kit for navigating this competitive housing market head-on.
A big mistake that a lot of people make is getting into their real estate search before they have been pre-approved for financing. This is a real missed opportunity. You could find something great on the market and it’s exactly what you want, but you can’t get financing for it in time to make that competitive offer. You’ll never know if it would have been something worth investing in or not. Anyone looking to purchase real estate in Nashville should absolutely take the time to get pre-approved for financing before they start looking. It’s an easy process. One we’re happy to help walk you through!
If you avoid those 4 main things, you will be making sure that when it’s time to enter the housing market, the buying process goes as smoothly as possible. It’s very important to have a consistent income and have been making your payments responsibly for a while before applying for a real estate loan.
Purchasing a home can be exciting, but it’s important to do so with the right priorities for what you truly want and need. Having clear priorities for what you want your new home to have is key to finding success. There will be some compromises you’ll have to make, so distinguishing between your “wants” vs. your “needs” upfront will help in making your final decision. In the end, remember you can improve upon your asset, so don’t be discouraged if you see a property or two that are missing a few things.
It’s also important that the house you’re buying has enough space for your family and lifestyle, for now and the future. Your real estate agent should be able to assist you in finding homes that meet your criteria and take your future planning into account.
For anyone considering buying a house, whether it’s their first or just “the next”, it’s important to know the neighborhood. In addition to looking at the real estate listings, you should also take time to explore the neighborhood. Doing so will give you a better idea of what life would be like if you and your family live there and it’ll also show you some good areas that you might have missed in your online searches.
Picking a lender for your real estate in Nashville is a big decision, which is why it’s important to team up with the right professional. Luckily, when you work with an experienced real estate agent, like our team, they can also help you find the right local lender for your home loan and connect you to a Loan Officer who is qualified.
I’d be happy to send you our Guide to Buying which has our top lender recommendations among other resources that will make your buying journey a successful one.
It’s relatively easy to just submit an offer, but my advice? Don’t do it alone.
One of the main benefits of having a realtor helping you in this process is being able to advise you and create the right offer strategy for the property. It goes beyond just the price of the home, but also covers considerations like closing costs, timing, contingencies, your “good faith deposit” and other information that will be important for the transaction.
If you’re curious about our signature process and how we handle preparing an offer strategy don’t forget to download our free Guide to Buying.
You may have heard, in this market, you have to remove all contingencies to be competitive. That’s not necessarily the case. You can keep your right to have an inspection for your own knowledge, but agree that you won’t be asking for any repairs.
After the inspections, if the contract does include repair negotiations, it’s time to submit a repair proposal. Be prepared to have a back and forth on this piece of the process, but once all parties come to favorable terms, a repair amendment should be added to your agreement.
This is why I can’t stress enough how important it is to have a well-qualified real estate agent who sincerely has your best interest in mind.
Buying can feel like a daunting process, but it doesn’t have to be. These tips should help you prepare and start to navigate the real estate market with confidence. If you’re looking for more information about this complex housing market, I encourage you to download our free Guide To Buying that will give you a look into our signature process at Harmon Home Team to get you from pre-approval to closing without the headaches.
Any more questions? Give me a call or shoot me a note!
@2021 HARMON HOME TEAM
1610 West End Ave., Ste 115, Nashville TN 37203 | 615.522.5100
1610 West End Ave., Ste 115, Nashville TN 37203
@2020 HARMON HOME TEAM