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The process of buying a home involves multiple steps. Apart from engaging the services of an experienced realtor, organizing the finances and paperwork, you need to ensure that what you are buying is in great shape. Buying a home is a huge financial commitment and requires great diligence.

As you narrow down on your home choices and are considering making an offer, the next prudent step is to engage a home inspector. Professional home inspections help you avoid making an investment blunder by buying a home that is not up to standards.

Provide an Impartial Professional Opinion

Structural issues in a home are not always easy to recognize. Compared to simple cosmetic issues that can usually be taken care of easily and without major expenditures, major structural issues take longer and tend to cost you more to repair.

Home inspectors, however, have the skills and training needed to know what to check for. They will check to see whether the house was professionally and solidly built. Look for a qualified home inspector in Ooltewah, Signal Mountain, Hixson, or Tennessee to provide you with an impartial and professional opinion to guide your buying decision.

Spend Now to Save Later

Some buyers may not want to spend towards a home inspection in the mistaken belief that it falls under “extra expenses” beside the house purchase price. The truth is that a home inspection adds more value to a property than most buyers realize.

Finding out about faulty appliances and water leakages after the home purchase can lead to pricey and stressful repairs down the road. In this case, engaging the services of a home inspector is an investment in your future. It allows you to plan ahead as the home inspection report details areas that may need to be addressed later.

If you are buying a property in places like Chattanooga or Signal Mountain and the home inspection report indicated no major home defects, it contributes to giving you peace of mind and more confidence in the newly purchased property.

Help in Buying Negotiations

Although home sellers in places like Tennessee are obligated by law to fully disclose all house defects, carrying out your own inspection pays dividends. A home inspection typically consists of an exploration of architectural issues and malfunctions. As a buyer, you can leverage the found variances in discussing a much better purchase price.

Helps you Plan Ahead

The money you spend to pay a home inspector may save you costly repairs later particularly when you are buying an older home that may need upgrades. Home inspection experts in Hixson and Ooltewah are useful in helping you plan for that future as they provide you with detailed reports. Such a detailed report can tell you the “life expectancy” of things in a home such as a roof, appliances, and the furnace.

Last Word

It doesn’t matter whether you are planning to buy a home in Signal Mountain, Tennessee, Chattanooga, Ooltewah, or Hixson, this is a major investment and it must be done right. Besides your lender and the real estate professional, getting a local home inspector is critical as it helps make sure your home buying team is complete.

Are you looking for homes for sale in Chattanooga? It’s one of the beautiful cities to live in America. Located at the base of Lookout Mountain and along the Tennessee River, you will always enjoy life in this downtown city.

Owning your dream home is always a thrilling experience but it can also be complex especially if you are a first time home buyer. If you need a smooth homeownership journey and experience when buying your home in Chattanooga, you need to understand the home buying process and work with reliable real estate agents who will offer guidance in every step.

The home buying process consists of several steps that any prospective home buyer must go through so as to own their dream home. The following are the key steps a home buyer needs to follow in order to own a home in Chattanooga, Tennessee.

Step 1; Obtain Your Credit Score Report If You Plan To Take Out A Mortgage

A credit score report is very essential and it plays a very significant role when it comes to qualifying for mortgages. Lenders will want to fast of all assess whether you are capable of repaying your loan. A good credit score should give you a green light to continue with your home buying process.

Step 2; Depending On Your Salary, Calculate The Amount Of Mortgage That You Can Afford

To avoid foreclosure in the future, home buyers are always advised to go for homes for sale that are within their budget. Remember when you qualify for a mortgage, you will add another expense to your monthly income.

Therefore, it’s important to, first of all, ascertain the amount of loan that you can afford to take without putting a strain on your lifestyle. There are several online mortgage calculators that you can use to calculate an affordable monthly mortgage repayment amount based on your current income and other expenses.

Also as you do this, set aside a certain percentage of your cash that will be used for a down payment, attorney fees, home closing costs, and other initial expenses that you will incur in case you want to buy additional furniture and other furnishings.

Step 3; Hire A Reliable Real Estate Agent

Although when buying a home is not mandatory to work with a real estate agent, they can make your home buying process much easier and fast. An agent has access to your local MLS and also is aware of the local market trends and pricing.

As a first time home buyer, working with an agent is worth the cost because they are free. The seller of the home pays for the commission costs. They can also help get the best lenders who will give you the necessary loan that you require for your Chattanooga dream home.

Step 4; Begin Searching For Your Perfect Home

Now that you have acquired your credit score, know the amount of mortgage that you can afford, have found the suitable lender and you have a real estate agent to help you, it’s time now to list down the type of house that you are looking for. Also, consider the location as this one matters quite a bit in determining the property pricing.

Once you have identified the type of home that you are looking for, it’s time now to engage your agent to start home searching according to your specifications. Other things to consider include social amenities, security, and proximity to your working area.

Step 5; Make An Offer Once You Get Your Desired Home

There are many sellers in Chattanooga with homes for sale either listed or For Sale By Owner FSBO. Once you have come across a good house that meets your specifications, it’s time now to make an offer. Your agent will help you in this and the seller’s agent will also make a counter-offer and you can negotiate until you agree on a certain price. You can then proceed and approach an escrow agent and deposit some deposit there as a sign of commitment.

Step 6; Apply For A Suitable Mortgage

Once you have selected your preferred home, you can now approach your preferred lender for a mortgage. The lender will conduct a home appraisal and determine whether it’s worth to fund the home buying or not. If you qualify, you will be granted the mortgage.

Step 6; Book For A Home Inspection

A home inspection is very important as it helps the home buyer check whether all the repairs are done according to the instructions given. An independent home inspection agent is the one who usually conducts a detailed home inspection and gives a report on the status of the home.

If there are any other repairs that you would like done, you can request the home seller to make the necessary repairs and this is inspected on the final-walk through before home closing is done.

Step 7; Home Closing

Home closing is the final step in a home buying process. When everything is fine, both the home seller and home buyer agree to close the deal. They will then proceed to a real estate attorney and sign the transfer of ownership documents. An escrow agent should also be present so as to release the money to the home seller once the home buyer acknowledges the receipt of the legal title deed of the property to become the new homeowner.

If you are looking forward to buying your home in Chattanooga, Tennessee, talk to us today and we shall guide you in every step and make your homeownership journey smooth and exciting.

Author: Nicole Anthony, Keller Williams Realty, Greater Downtown Chattanooga. https://nicoleanthony.kw.com