Things to Consider When Buying a Home in Franklin, TN
Purchasing a home is probably the most significant investment you’ll make in your life. Some folks save for years with this as a clear goal. Others find a beautiful area and decide they want to plant some roots there. Still, others may choose to buy a home near family or friends, or a new job.
If you’re mulling over the possibilities of buying a home in Franklin, ask yourself a few questions. This is a significant purchase and you want to be doing it for the right reasons. Buying a home on a whim or for the wrong reasons can cost you later. A mortgage is a big financial commitment and a house requires maintenance. These factors should weigh into your decision.
– Why do you want to live in Franklin. Is it a job? Close to your family? You feel at home here? Be clear in your mind about your reasoning. You may be here for a couple of decades or longer.
– Can you afford the home you’ve fallen in love with? Walking into a house and just knowing it’s the one for you can be a magical experience. But when the first mortgage bill arrives will it shock you? There is such a thing called “house poor,” where you can pay your monthly mortgage but have little or no money left over. Don’t let this be you.
– Are you here to stay? If you’re buying a house in the area just for a new job, you want to think about this. If you’re planning on transferring to a job in another city soon you might be better off renting a house. If you’re here to be close to family and want your children to grow up here, then buying a house can be a smart investment.
– Am I getting the right advice from my agent? A good real estate agent will advise you to consider all these things before signing on the dotted line. The right agent will put your financial interest and desires first. You need an agent with integrity who knows the area. You need a partner for this process you can trust.
For more information about buying a home in Franklin and what that entails for you and your family, contact us today.