When people are looking to relocate, home prices are often the first area they research. These home shoppers would be pleased to find that Murfreesboro, Tennessee was recently featured on Money Magazine’s 2010 “Best Places to Live” list at No. 20 for its home affordability.
According to the Nashville Business Journal, the median home price in Murfreesboro is $141,000 and the population is 101,000. Money Magazine looked at 25 cities with populations similar to Murfreesboro’s, but this Tennessee town was the only one in the state to make the cut.
If you’re considering purchasing a new home in Tennessee, Murfreesboro is a great place to start looking. But remember, homebuyers often face hardships, difficult decisions and planning problems when searching for the perfect property.
Avoid these top 5 homebuyer mistakes if you’re getting ready to take the plunge.
1. Not doing your research.
Give yourself a leg up by thoroughly researching – and requesting your realtor do the same – the property you’re looking at, the surrounding homes, community and schools. Don’t walk blindly into buying a house because it’s likely unexpected issues will arise.
2. Not understanding pricing.
Not understanding pricing leads home buyers into all sorts of binds. Paying too much for a house, not selecting the mortgage that’s right for them, losing a house to another bidder and underestimating closing costs are all problems a home buyer might face if they don’t have a clear grasp on the pricing process involved with purchasing a home.
3. Falling in love.
Falling in love with a house is one of the worst things potential buyers can do. Being emotionally involved could lead you into buying a house that might have little resale value later. Or, it could encourage you to rush into decisions, like buying a house that’s too small, too quirky or near unattractive features like commercial property, utility access panels or drainage easements.
4. Not hiring a professional realtor and professional home inspector.
The more experienced your team, the better the home buying process will go. Be sure your realtor is competent and practiced. Ensure that a professional home inspector thoroughly reviews and records the pros and cons of your hopefully new home.
5. Delivering non – refundable earnest money.
Your realtor should never recommend you do this. If the home inspection, financing plans and final details of the home closing start to veer off course, you’ll want to have a grace period built in that allows you to withdraw your earnest money and look elsewhere for a new home.
Give yourself all the chances for success by avoiding these top home buying mistakes. As always, having a reputable realtor by your side to help answer questions, make appointments and give advice is one of the best ways to make purchasing a new home a breeze. An affordable one if you’re moving to Murfreesboro.