Searching for a Gatlinburg home or a property in any location, requires a certain amount of preparation.  Our blog for this week zero’s in on the advance planning that buyers need to do before their home purchase.  The source for this material comes from the National Association of Realtors.  They put out an article to their members on 10 ways to prepare for home ownership  .  It offers great home buyer advice that is worth sharing.      

Home Buyers need to determine what they can afford.  This is the first step. Typically most people can buy a home that is two to three times their gross income.  The home buyers second step is to set up a wish list for the new home.  This wish list should be prioritized before the actual home search.  Step three is determining where you want to live.  Select three or more areas with neighborhoods that you like.  Factor in travel time to; work, school, recreation, and other daily activities.  Consider the quality to all facets of the area, and potential resale.  Fourth on the list of preparation is begin saving for your home purchase.  Shoot for a minimum of 20% for a down payment.  An additional 5-10% for miscellaneous closing costs will cover attorney fees, taxes, transfer fees, etc.  Getting your credit in order is the fifth item.  Request a copy of your credit report and make sure it is accurate.  If there are problems, begin immediately to get them corrected and take steps to improve your credit.     

 The first five steps we discussed take a future homeowner to the half way point in preparation.  Step six is to set up mortgage qualifications.  How large of a mortgage can you get?  Explore various options on loans like; fixed or adjustable, term length, etc.  Determine your best option and your best loan source.  The seventh item of preparation is to get pre-approved on your loan.  This requires submitting necessary documentation like; prior years’ tax forms, W-2’s, 1099’s, pay stubs, etc.  Step eight requires creativity to see if there are other potential sources of funding for the down payment.  For instance, are there any state or federal programs that offer assistance for down payment money?  Some retirement funds may be used without penalty, for some aspect of a home purchase.  The ninth step in home ownership preparation is to calculate all costs associated with owning a home.  These include; insurance, maintenance, utilities, association fees, property taxes, and future repairs.  It is best to be prepared for all aspects of the successful home owner lifestyle.  The final step is to find a realtor you can work with, and one who can truly help you. Some Realtors specialize in certain kinds of property.  Make sure they have the patience often needed for first-time buyers.  This may require getting referrals from people you know and conducting your own screening, or interview process.  Be respectful of people’s time during this selection procedure.  These ten steps will prepare any first time, or seasoned buyer for the road to owning a home.  Completing these steps certainly eliminates many of the hassles in the path to acquiring a new home.       

If you are considering any kind of home purchase here in the Tennessee Smokies, the Jason White Team can simplify your search.  Everything from our user-friendly web site, to our realtors’ expertise is geared to help both buyers and sellers alike.  Contact us today 877-678-2121, and have fun finding your home in the Tennessee Smokies!   

Here are a Few of My Current Listings: 

Surrounded by The Great Smoky Mountains! Enjoy total privacy in one of the most picturesque settings in the area. Located in the prestigious community of Riversong and surrounded by The Great Smoky Mountains National Park. You can hear the relaxing sounds of the Little Pigeon River from the deck Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $769,900 Get more information >

11 Bedroom- Smoky Mountain Stunner! This 11BD/11.5BA mountain top home is designed with hardwood floors, high quality furnishings and antique decor throughout. A stunning handcrafted cedar staircase, sunroom w/large swim spa, sauna, media room, over 2500 sq ft of decking to enjoy the view! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $1,475,000 Get more information >

Mt LeConte View w/Large Open Floor Plan 5 bedrooms all with in suite baths for privacy. Huge great room for those family gatherings and could walk to trolley to take to town or to Nat’l Park. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $350,000 Get more information >