Buying your first home is an exciting experience. It's likely to be the largest purchase you've ever made, though, so you want to be sure you know exactly what you're getting into and how the process works. Partnering with an experienced realtor® ensures you can get the information you need at every step, but you also need to ask the right questions. As you start on your home-buying journey, ask these questions about any property you're considering and the real estate process. 

The Most Important Questions to Ask When Buying Your First Home 

What's the neighborhood like? 

Proximity to your job, shopping, entertainment, and friends are important to consider when buying a home but dig deeper. Your realtor can provide information about property values and comparable homes in the area, which can influence your offer. Research additional information about the quality of local schools and crime rates, and if you can, visit during different times of day to get a sense of what the neighborhood's like when everyone's around. 

How old is the home and everything in it?

Real estate disclosures will contain vital information about when the home was built, and when major repairs or changes were made. Pay attention to the age of the roof, the HVAC system, and appliances; the older they are, the more likely they are to need work or replacements soon. 

How long has the home been on the market?

In a hot market, most homes don't stay on the market for long. If a home has been listed for several months, dig deeper to find out why. If there aren't any major red flags, you may be able to work out a better deal with a motivated seller. Don't be afraid to ask why the home is for sale, either. Your realtor can often find out this information, which could make a difference in whether it's the right place for you.

What are closing costs, and how much are they?

The cost of buying a home includes much more than the home itself. You'll have to pay closing costs, which include fees for the loan paperwork and title, realtor commissions, insurance payments, and more. Most homebuyers pay between 2% to 5% of the home price in closing costs. Your realtor can help you negotiate to have some, or all, of the costs covered by the seller. 

If you're a first-time homebuyer in Morristown, TN, turn to The Wolfe Pack Real Estate Team at RE/MAX® Real Estate Ten for expert help finding the home of your dreams. These knowledgeable, licensed realtors put you and your needs first, and are committed to providing the highest level of customer service. You can count on them for expert insights, thanks to their 17 years of industry experience and more than 35 years of living in the area. To make an appointment, call (423) 231-4067 and visit their website to view available homes.