Buyers Questions And Answers

At CENTURY 21 Prime South, we understand that buying a home is a journey filled with questions. It’s a significant milestone, and it’s completely normal to have a lot on your mind! We hear similar questions from buyers all the time, and we love answering them because it means our clients are engaged and ready to make a smart decision.

Here are some of the most common questions we hear from homebuyers in the Chattanooga area, along with our expert answers.

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“What are my first steps to buying a home?”

This is perhaps the most important question of all. Many people think the first step is to start Browse online listings, but that’s actually step three or four. The real first step is to get pre-approved for a mortgage. This involves a lender reviewing your finances (income, credit, and debt) to determine how much they’re willing to lend you.

Our answer: Getting pre-approved gives you a clear budget, which is essential for a focused home search. It also shows sellers that you’re a serious, qualified buyer, giving you a huge advantage when you’re ready to make an offer.

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“How much do I need for a down payment and closing costs?”

This is a major financial concern for many buyers. While the traditional 20% down payment is a good goal to aim for, it’s not the only option. Many loan programs, such as FHA and VA loans, allow for much lower down payments, sometimes as little as 3.5% or even 0%.

Our answer: The amount you need for a down payment varies greatly depending on the type of loan you get. In addition to the down payment, you’ll need to budget for closing costs, which are fees for services like the appraisal, title insurance, and lender fees. These typically range from 2-5% of the home’s purchase price. We can connect you with trusted lenders who will help you find the best financing options for your specific situation.

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“What’s the best advice for finding the right neighborhood?”

Chattanooga has so many unique neighborhoods, each with its own character and amenities. Choosing the right one is about more than just finding a house you like; it’s about finding a community that fits your lifestyle.

Our answer: We recommend making a list of your priorities. What’s important to you? Great schools, a short commute, walkability to shops and restaurants, or proximity to hiking trails? Drive through potential neighborhoods at different times of the day to get a feel for the atmosphere. Our local agents have in-depth knowledge of Chattanooga’s neighborhoods and can provide insights on everything from property values to community events.

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“Is a home inspection really necessary?”

In a competitive market, some buyers might be tempted to waive the home inspection to make their offer more attractive. However, this can be a risky move.

Our answer: A home inspection is a critical step in the home-buying process. It’s a professional’s detailed examination of the property’s condition, from the foundation to the roof. An inspection can uncover costly issues that aren’t visible to the untrained eye. We always recommend including an inspection contingency in your offer to protect your investment and give you peace of mind.

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“What should I look for when touring a home?”

When you’re finally walking through a potential new home, it’s easy to get swept up in the excitement. The best buyers have a strategy.

Our answer: Look beyond the paint colors and furnishings. Pay attention to the home’s “bones”: the condition of the roof, the age of the HVAC system, and any signs of water damage. Take pictures and notes, and think about how the layout will work for your daily life. We’ll be there with you, pointing out things you might miss and answering your questions about the property’s condition and history.

At CENTURY 21 Prime South, we’re here to answer all your questions and guide you with confidence. We’re not just selling homes; we’re helping you find your future in Chattanooga. Contact us today to get started!