Moving to Mississippi may just be your best decision ever – and why not? The Magnolia State simply has so much to offer and more. Whether you choose to live by the Gulf in the South; near the mighty Mississippi River in the West; or in any community nestled in the hills, mountains, and forest clearings in the central area and northeastern fringes, you’ll want to make sure that your home purchase is one you won’t regret. Thus, the team from Owen & Co., LLC Real Estate prepared this guide to help you get the best deal on the Mississippi home of your dreams.
Financing your new home
Make sure that you are in good financial standing even before you start looking for a house. You can begin by ensuring that your credit status is in the green. This ensures that you not only qualify for a mortgage but – depending on how high your credit standing is – you can also take advantage of lower down payments and better terms.
Getting a mortgage pre-approval could also give you an edge over those without it. This document tells you just how much house you can afford given your budget, and tells home sellers that your financial standing enables you to pay a home mortgage regularly and on time.
Once your finances are in order, finding the right lender and the type of loan can mean extra savings. Factor in supplemental costs on top of the house’s price tag as you shop for a lender. Get estimates from different lending institutions and choose one with the best fees and terms that suit your budget.
Getting an agent
Sure, you can find homes for sale in Bay St. Louis, Long Beach, Gulf Port, Biloxi, or any other area in Mississippi by shopping online. But nothing still comes close to the tailor-fit services of a good real estate agent.
It pays to screen several agents before settling for the one you can comfortably work with. A great way to find potential agents is through referrals from family and friends. Once you narrow down your candidates, make sure to interview them to get a feel of how they would handle your transaction.
A seasoned real estate agent can be your foundation for guidance in your home-buying endeavor. Their experience in the field and their time-tested strategies in negotiations are exactly what you’ll need to close the deal.
Finding the best deals
There are times when a house has everything you’ve ever dreamed of – except that it’s priced way beyond your budget. If you stay within your price range, there’s no danger of failing to regularly pay the mortgage. That peace of mind, in itself, is a great deal.
If you are working on a tight budget, try shopping for bargains in listings of foreclosed, short-sale, or bank-owned properties. Since these properties are being sold at rock-bottom prices, expect the market to be competitive and the investment to be quite risky. But you can control these challenges if you have a real estate agent by your side who is an expert in this type of sale.
You can also find better deals by shopping off-season. Competition among buyers is at its fiercest during the peak spring and summer months. Sellers bank on the surge in demand and tend to mark up home prices. But if you properly time your purchase on slower months like the winter season, sellers will be more eager to accept lower offers. In effect, you get a nice bargain on your new home.
A good deal doesn’t stop at closing. Property taxes usually differ per area so you can save a lot post-sale if your preferred locale has lower property taxes. You’ll be glad to know that in Mississippi, a home with an assessed value of $250,000 has a corresponding property tax that’s only 0.79% ($1,975) of that said value While there are online tools that can help to compute for taxes per location, nothing still beats the insights of your real estate agent who has more up-to-date numbers.
Making your offer
As you search for your abode among available Mississippi houses for sale, especially in Bay St. Louis, Long Beach, Gulfport, or Biloxi, consider not only the price of the property but also its market value. A house that’s listed above market value could give you more room to negotiate for a lower price.
Moreover, if you find the right home that ticks all the boxes in your checklist of requirements, make your best offer right away – especially if the market in the area is competitive.
If you are looking for a reliable agent to help you get the best deal on real estate in Bay St. Louis, Long Beach, Gulfport, Biloxi, or the rest of Coastal Mississippi, the team of real estate specialists at Owen & Co., LLC Real Estate is your best bet. Call them now at 228.822.9870 or send an email to info(at)owenandco(dotted)com.
