Tennessee Real Estate Tips: Buying & Selling Made Easy

Top Tips for First-Time Homebuyers in Murfreesboro

Purchasing your first home is an exciting milestone, but it can also feel overwhelming. Murfreesboro, with its charming neighborhoods and growing community, offers fantastic opportunities for first-time homebuyers. To help you navigate this process smoothly, here are some essential tips for first-time buyers in Murfreesboro.

1. Understand the Local Market

Murfreesboro’s real estate market is dynamic, with a mix of ongoing new construction and existing homes on the market. New construction homes often come with builder incentives, which can include "flex cash" or other financial perks, assistance with closing costs, lower rates when working with preferred lenders, upgraded finishes, and other incentives. However, these incentives may not include a lower list price.

In contrast, existing homes might not offer the same incentives but can provide opportunities such as help with closing costs, the possibility of leaving appliances, more mature and colorful landscaping,  possibly pools or play sets and sometimes greater flexibility on the purchase price. Understanding these differences can help you determine the best options for your budget and needs. Working with a local real estate agent can provide valuable insights into the current market, available incentives, and help you make informed decisions.

2. Get Pre-Approved for a Mortgage

Before you start house hunting, it’s crucial to get pre-approved for a mortgage. This not only clarifies your budget but also shows sellers that you’re a serious buyer. Many lenders in Murfreesboro offer specialized programs for first-time buyers, so explore your options and choose the best fit.

I have a list of lenders that I have worked with in the past and/or have come highly recommended from my colleagues. I’m happy to share these with you. Your lender is a very important partner in your home buying process, and you should work with someone you trust and feel comfortable with. Building a good relationship with your lender can make the entire home buying journey much smoother.

3. Define Your Priorities

Make a list of must-haves versus nice-to-haves. Consider factors like proximity to schools, parks, shopping centers, and commute times. Knowing what you want helps narrow your search and ensures you’re investing in a home that fits your lifestyle.

It’s important to define And Align a few core non-negotiables with all decision-makers involved before you start looking at homes. It’s valuable to agree upfront that you will only look at houses meeting a few key criteria. For example, it’s not an efficient use of time to view homes with only a 2-car garage if one of the buyers will only purchase a home with a 3-car garage.

It’s normal for your wants and needs to evolve after you view a few homes, and priorities may shift. However, having at least a handful of "must-haves" before you begin your search provides a clear starting direction and helps prevent chasing after homes that don’t meet your non-negotiable criteria.

4. Budget for Additional Costs

Apart from the home price, there are several other costs to consider to avoid surprises and ensure your finances are in order.

One of the larger costs are closing costs. These are fees associated with finalizing your real estate transaction and typically include lender fees, title insurance, escrow fees, recording fees, and credit report charges. In Murfreesboro, closing costs generally range from 2% to 5% of the purchase price. It's important to work with your lender and realtor to understand what specific costs you'll be responsible for and to have funds set aside accordingly.

When you make an offer on a house, you will normally have to provide earnest money, a deposit typically ranging from 1% to 3% of the purchase price. This deposit demonstrates your serious intent to buy. The earnest money is held in escrow and can be credited toward your down payment or closing costs at closing. If you decide to back out of the deal without a valid reason, as outlined in your contract, you might forfeit this earnest money to the seller.  Property Taxes  are annual taxes based on the assessed value of the home and are usually payable either annually or semi-annually. Your mortgage lender may require an escrow account to ensure these taxes are paid on time. You will need to pay for homeowner’s insurance to protect your property from damage or loss. Premiums vary depending on the coverage and the value of the home.  As a homeowner, you'll be responsible for regular maintenance  and repairs. Setting aside some money on a regular basis can help you stay prepared for unexpected costs or repairs over time.  By planning ahead for these additional expenses, you can create a realistic budget that will make the home buying process smoother and more predictable.

5. Attend Open Houses and Neighborhood Tours

Visit multiple homes and neighborhoods in Murfreesboro to get a feel for what’s available. This also helps you understand the market value and identify communities that align with your lifestyle and preferences.

If you find a community that intrigues you and seems like a good fit, take extra steps to get to know it better. Review community Facebook pages, ask questions if possible, and look at reviews for schools in the area. Spend an afternoon shopping and dining there to experience the local atmosphere firsthand. Try to get a real feel for the area—its vibe, amenities, and what daily life might be like.

If everything checks out and you start feeling yourself getting excited about the community, ask your realtor to line up a few houses in that area for you to see. This way, you can view homes in a neighborhood you've already started to love and get a clearer idea of what’s available within your budget.

6. Don’t Rush the Decision

Buying a home is a significant investment, so take your time. Carefully consider amenities and the community, have inspections, and consider all the financing options before committing. The summer of 2025 is a balanced, and in some areas, a buyers market in Murfreesboro, which means buyers generally have more time to view homes multiple times and "sleep on it" before making an offer. This provides a great opportunity to weigh your options and avoid making impulsive decisions.

For added peace of mind, it’s always a good idea to ask your realtor to contact the listing agent to see if there are pending offers on properties you’re seriously considering. Knowing whether other buyers have made a formal offer can help you plan your next steps and determine the need for urgency around your potential offer with less worry over possibly losing a house.

7. Get a Home Inspection

Never skip a home inspection. It is a crucial step in the home buying process that can uncover hidden issues such as structural problems, water damage, electrical issues, or HVAC concerns that might require costly repairs in the future. A thorough inspection provides peace of mind and helps you understand the true condition of the property before finalizing your purchase.

An inspector can also offer valuable advice on potential upgrades, repairs, or maintenance that may be needed after move-in. This information can be useful during negotiations, possibly leading to repairs or credits, and can help you budget for future expenses.

I have a list of reputable home inspectors that I have worked with personally and/or that have come highly recommended by colleagues. I’d be happy to share this list with you to ensure you find a knowledgeable, trustworthy inspector to evaluate your potential new home.

Investing in a good home inspection is a smart step to protect your investment and ensure that you’re making an informed decision.

Buying your first home in Murfreesboro is an exciting journey filled with opportunities and important decisions. I know this process can seem overwhelming at times, but please remember—you don’t have to do it alone. As a local Murfreesboro realtor, my goal is to partner with you every step of the way, providing guidance, expertise, and reassurance. I’m here to help you find the right home, negotiate effectively, and ensure you’re making a sound investment. If you’re ready to start this exciting chapter, I’d be delighted to assist you and turn your dream of homeownership into a reality. Let’s work together to find the perfect home for you!

Courtney Isbell - 615-617-9937

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