If you’re thinking about moving to Knoxville, relocating to East Tennessee, or are a first-time home buyer, you’re not alone. Knoxville’s real estate market is hot right now because of its affordability, outdoor lifestyle, and growing job market. Whether you’re relocating or buying your first home, knowing what to expect can make the entire process smoother and less stressful.
Below is a realistic home buying timeline that breaks down each step, so you feel confident navigating the Knoxville market.
Figuring Out Your Budget (1-2 Weeks)
Before you begin pursuing listings, it’s important to understand your budget. Start by looking at your income, savings, debt and credit score, and take some time to check some online mortgage calculators or talk to a loan officer, so you can get a realistic idea of your price point. Taking this step now will really give you clarity and save time later.
Get Pre-Approved for a Mortgage (1-3 Weeks)
The pre-approval is a written estimate from the lender of how much they’re willing to loan you.
You’ll want to get all of your financial documents (W2s, pay stubs, bank statements) together and submit them to a lender. When the time is right, The Hardy Group works directly with a trusted team of lenders, including Brannon Taylor with First Choice Lending.
Choose the Right Location (1-4 Weeks)
East Tennessee offers a little bit of everything: urban, suburban, lakeside, rural, mountain view… you name it. As you explore, consider the following:
- Commute
- School Zones
- Amenities
- Lifestyle
- Neighborhood
Most buyers narrow their list down to 2-4 neighborhoods before they start touring homes. This step often overlaps with scheduling showings.
Tour Homes on the Market (2-8 Weeks)
The amount of time you spend touring homes will change as inventory fluctuates and demand changes. Start attending open houses, schedule private viewings, and start comparing homes based on your must-haves and dealbreakers.
With Knoxville’s competitive market, homes don’t always stay listed, your real estate agent can help you move strategically and quickly when necessary. Check out our current listings here!
Submit an Offer (Few days)
Once you find the one, it’s time to submit an offer. Your agent will help you:
- Determine a strong offer price
- Negotiate your way through
- Handle back and forth with counteroffers.
If you’re wondering what kinds of deals The Hardy Group has secured for past clients, this is a great time to ask! How fast this step goes will depend on the competitiveness of the market.
Inspection & Appraisal (1-3 Weeks)
Once your offer is accepted, you will want to schedule a home inspection and appraisal. These confirm the condition and value of the home, and if there are issues, you can renegotiate pricing or repairs. This is one of the most important stages in buying a home.
Closing Process (3-6 Weeks)
Between acceptance and closing, several behind the scenes steps occur:
- Title search
- Loan approval
- Final paperwork
The Hardy Group partners with a trusted title team, including Chase Reno with Knoxville Title Agency to make sure the process moves along smoothly.
Move In (1-3 Weeks)
Your timeline for moving in will be determined by your current lease, schedule, and if your new home requires any updates. Before you know it, you’ll be settling into life in East Tennessee.
Ready to Start Your Home Search in Knoxville?
Buying a home is exciting, but it’s even smoother when you have an experienced, supportive team guiding you every step of the way. Whether you’re a first time home buyer, relocating to Knoxville or starting fresh in East Tennessee, The Hardy Group is here to help you navigate the process with confidence.
Reach out today if you’re starting your home buying journey, our team is ready to help you find your way home!