First-Time Homebuyers’ Guide
June 23, 2023
Becoming a homeowner is a big milestone. It’s an exciting new season of life to embrace and step into. Although it can feel like a big decision and investment at the time, becoming a homeowner is one of the best financial decisions one can make. Follow this first time homebuyers’ guide for everything you need to know as you accomplish the goal of building equity and no longer paying a landlord’s mortgage.
Create and stick to a budget
Creating a budget and sticking to it will not only help you achieve your homeownership goals, but it will also give you peace of mind. Determining what you can afford and adhering to those budgets will make the process and transition much more seamless.
Consider unexpected expenses
Even the most meticulous planner will run into unexpected complications and expenses. Have a rainy-day fund or a savings account that you feel comfortable pulling from in these cases. You never know what could pop up, so it’s better to be prepared and plan for something to suddenly need to be covered.
Buy a home to grow into
Although you might be tempted to find a home that fits your current needs, try to plan for the future when you’re shopping for your new home. Consider how much space you need now vs how much space you will want in the future. While your home should support your current lifestyle, it’s never a bad idea to find a home that could also fit your future lifestyle.
Consider a pre-planned community
If you’re a first-time homebuyer and you’re unsure about selecting your new home, consider one of Ole South’s thriving neighborhoods! We specialize in connecting first-time buyers with a home they love. Whether you are looking for a low-maintenance townhome, or prefer a traditional neighborhood home, you can count on Ole South to deliver the very best new home value - not only in price but in quality and service too. When you’re ready to experience why Ole South is Tennessee’s Favorite Home Builder, we would love to welcome you into one of our communities for a tour.