For most people, a home is the single largest purchase they will ever make. And while television shows about home buying make the process seem as simple as just looking at properties for sale and signing some paperwork, it's actually a good deal more complex to buy a house. A few simple tips can help make the experience go smoothly and reduce your stress. 

3 Tips to Prepare Yourself for the Home Buying Experience

1. Get Your Finances in Order

In today's competitive market, many real estate agents will only work with clients who are pre-approved for a mortgage. A good credit score (typically at least 620) and a down payment are musts to buy a house, so start checking your credit at least a year in advance so you have time to improve your score and solve problems before applying for a mortgage. As far as savings, aim to save at least 5% of your target home price, plus an additional 3% to cover closing costs. Don't forget to budget for moving expenses, as well. 

2. Research Loan Options 

When you make an offer to buy a house, the process moves fast, and you may not have time to fully explore all of the financing options available to you. Before you start looking for a home, meet with a loan officer to discuss different types of mortgage loans and programs. Depending on your financial situation and other factors, you may qualify for lower interest rates, reduced down payment amounts, and other programs. 

For example, military veterans and service members can qualify for VA loans, while first-time homebuyers can borrow money from the Fair Housing Administration (FHA) at lower interest rates. Understanding your options in advance helps you find the right match quickly when the time comes to actually buy a house. 

3. Determine Non-Negotiables 

Before you start looking, determine the non-negotiable features that your home must have. They might be the number of bedrooms and bathrooms, the location within a certain school district, or features like a yard or garage. Fixer-uppers may have an appealing price point, but the expense of making repairs and upgrades can push the home outside your budget. That said, don't let minor cosmetic issues keep you from making an offer on an otherwise ideal property. Updating paint, flooring fixtures, and landscaping are generally inexpensive upgrades. 

One of the most important things when you want to buy a house is to work with an experienced agent. Buyers in Hamilton County, TN, rely on Kathleen Hill Homes at Real Estate Partners Chattanooga for her expertise and knowledge of the local market. She will help make the home buying process as stress-free as possible and guide you through every step of the process. Learn more about her and her services on the website, and call (423) 305-3174 to schedule a meeting.