The Ultimate Guide to Avoiding Common Home Buyer Mistakes in Knoxville, TN
When you decide to buy a home in Knoxville, TN, there are many common issues that arise. Individuals who are unaware of these home buyer mistakes may find themselves dealing with one or more of them, and the home buying experience can be quite challenging.
Fortunately, working with an experienced real estate agent such as ours at Your Home Sold Realty – Kings of Real Estate Team and getting FREE access to insider information can help to prevent you from making these common home buyer mistakes. It makes the process much simpler. With a guide through the home buying process, you can have fun while you search for your perfect home in Knoxville.
Tips to Avoid Making Common Knoxville Home Buyer Mistakes
If you are hoping to buy a home in Knoxville, TN, our real estate agents at Your Home Sold Realty – Kings of Real Estate Team are here to help you find the perfect home for you and your family. We are also happy to be able to give you the insider information you need to make the right decisions and secure your financial future.
We are offering you FREE and instant access to a special report that lists the 6 most common home buyer mistakes in Knoxville, TN, and our team is glad to walk you through some of the most important ones. All home buyers can use some helpful tips to ensure that they are not making serious home buying mistakes that could have a devastating impact on their lives and finances.
Below are a few of the most useful tips for avoiding the common home buying mistakes that our team often sees in Knoxville:
Determine Your Monthly Mortgage Amount Before You Begin
While you may have a clear idea of the type of home you are hoping to buy in Knoxville, you must first determine if you are going to be able to afford that perfect home. This is one of the most important and common home buying mistakes: looking at homes before you know your budget.
Before you start your home search, it is vital that you first figure out what your monthly payment amount will be. You must be realistic about the amount you are comfortable paying every month and how much you will actually be able to qualify for from a mortgage lender.
The absolute worst and most devastating thing that could happen to a home buyer is to find the ideal home in Knoxville, go through the process, and then realize that you cannot afford the monthly mortgage payments. That is why you must determine your budget and get pre-qualified by a lender prior to beginning your home shopping.
Use a Mortgage Calculator for a Definitive Home Buying Budget
When you see the asking price of a home for sale in Knoxville, TN, it may seem like an overwhelming number. Because it is hundreds of thousands of dollars, it may be difficult to translate that number into a monthly payment amount.
That is why our real estate agents at Your Home Sold Realty – Kings of Real Estate Team in Knoxville, TN, are offering you the use of a professional mortgage calculator to determine how much you can afford to pay on a monthly basis and how that equates to the larger asking price. Seeing the numbers in a very clear format using the mortgage calculator is a great way to avoid a serious letdown when you find a perfect home and realize it is out of your price range.
Once you have this number in mind, your next step is to find a trusted lender, determine if the mortgage calculator’s figures are accurate, and then get pre-qualified for a specific lending amount.
Determine Your Pre-Payment Privileges and Payment Frequency Options Before You Shop
Another common home buyer mistake is being unaware of your payment options for your mortgage. You have pre-payment privileges and payment frequency options to be aware of, and you should find them out before you commit to a mortgage. Knowing these factors can work to ensure that your monthly mortgage payments are working hard for you.
Reduce Your Mortgage Length through Advantageous Payment Options
Many home buyers are unaware that they can structure their mortgage payments in different ways so that they work in your favor. This can reduce your mortgage term by years and save you thousands of dollars in the long-run.
Instead of monthly mortgage payments, you can actually decide to make more frequent payments such as weekly or biweekly. In addition to saving money through restructuring, you will be able to significantly lessen the interest you are charged over the course of your entire mortgage term.
You may also be able to reduce the number of years you have to pay a mortgage by increasing your monthly payment or authorizing a prepaid percentage of the mortgage. You have lots of payment options available, so it is important to ask about all of them.
Buy a Home in Knoxville with Us and Avoid the Most Common Home Buyer Mistakes
Buying a home in Knoxville does not have to be an overwhelming challenge. It can actually be fun and exciting as long as you avoid the common home buyer mistakes that many individuals get trapped in. That’s why our real estate team is here for you.
At Your Home Sold Guaranteed Realty – Kings of Real Estate Team, we work with trusted preferred lenders and provide you with insider information so that you don’t fall prey to common home buyer mistakes. We understand that this is a major investment of money and time for you and your family, and our team is here to help you through the entire home buying process.
Call us at 865-830-3908 or fill out the form below with the requested information to find out more about the common home buyer mistakes and how you can avoid making them. Our team is excited to get started on your home buying journey!