Your Journey Starts Here
First-Time Home Buyer Guide — 2026
Welcome
Buying Your First Home Doesn't Have to Be Overwhelming
Purchasing your first home is one of the biggest financial decisions you'll ever make — and it can feel like a lot. But with the right guidance, it's also one of the most rewarding experiences of your life. Christy Holcombe at Keller Williams Greater Chattanooga has helped countless first-time buyers across Tennessee and Georgia find the right home at the right price.
This guide walks you through every step of the process, what costs to expect, and practical tips to make your first home purchase as smooth as possible.
The Process
Step-by-Step: How It Works
Check Your Finances
Before anything else, take an honest look at your credit score, savings, and monthly budget. Lenders will review your debt-to-income ratio, employment history, and credit report. Aim for a credit score of 620 or higher — though some loan programs accept lower.
Get Pre-Approved for a Mortgage
A pre-approval letter from a lender tells you exactly how much home you can afford and shows sellers you're a serious buyer. Gather your W-2s, tax returns, pay stubs, and bank statements before meeting with a lender.
Find the Right Agent
A buyer's agent works for you — not the seller. Buyer agent compensation is negotiated with the listing brokerage upfront and is negotiable. Before touring homes, you'll sign a Buyer Representation Agreement that outlines the agreed-upon compensation. Christy Holcombe at Keller Williams will walk you through this process transparently so you know exactly what to expect.
Start Your Home Search
Make a list of your must-haves vs. nice-to-haves. Consider location, school districts, commute, and future resale value. Don't fall in love with the first home you see — take your time and view several properties.
Make an Offer
When you find the right home, your agent will help you craft a competitive offer based on comparable sales in the area. Be prepared for negotiation — the seller may counter your offer on price, closing costs, or move-in date.
Home Inspection & Appraisal
Always get a home inspection — it's typically $400–$800 depending on the size of the home, and can save you thousands by uncovering hidden issues. Your lender will also require an appraisal to confirm the home's value matches the loan amount.
Close on Your Home
Closing day involves signing a stack of documents and paying closing costs (typically 3–6% of the loan amount). Once everything is signed and funds are transferred, you'll receive the keys to your new home.
Be Prepared
Costs to Expect
| Cost Item | Typical Range |
|---|---|
| Down Payment | 3% – 20% of purchase price |
| Closing Costs | 3% – 6% of loan amount |
| Home Inspection | $400 – $800 |
| Appraisal | $400 – $600 |
| Moving Expenses | $500 – $2,500+ |
| Initial Repairs & Updates | Varies |
Costs vary based on loan type, location, and negotiation. Christy will walk you through what to expect for your specific situation.
Expert Advice
Tips for First-Time Buyers
Don't Skip the Home Inspection
Even on newer homes, an inspection can reveal issues with the roof, HVAC, plumbing, or foundation that aren't visible to the naked eye. It's one of the best investments you can make.
Get Multiple Mortgage Quotes
Interest rates and fees vary between lenders. Shopping around with 2–3 lenders can save you thousands over the life of your loan. Don't worry — multiple mortgage inquiries within a short window count as a single credit pull.
Keep Your Finances Stable
Once you're pre-approved, avoid making large purchases, opening new credit accounts, or changing jobs. Any major financial change can affect your loan approval right up until closing day.
Budget for More Than the Purchase Price
Factor in closing costs (3–6%), moving expenses, immediate repairs, and an emergency fund for unexpected issues after move-in. A good rule of thumb is to keep 1–2% of the home's value in reserve for maintenance.
Understand Your Loan Options
FHA loans require as little as 3.5% down and are great for buyers with lower credit scores. Conventional loans offer better rates with stronger credit. USDA loans offer zero down payment for rural properties — which may apply to many homes in our service areas.
Think Long-Term
Buy a home you can grow into, not just one that fits your life today. Consider the neighborhood's trajectory, school quality, and how long you plan to stay. Experts generally recommend staying in a home at least 3–5 years to build equity.
Ask Questions — There Are No Dumb Ones
The home buying process involves a lot of unfamiliar terminology and paperwork. Never hesitate to ask your agent or lender to explain anything you don't understand. That's what we're here for.
Rural Properties Have Unique Considerations
If you're buying in a rural area, check whether the property has a well and septic system rather than city utilities. These require additional inspections and ongoing maintenance. Christy has extensive experience with rural properties across Tennessee and Georgia.
Your Guide Through the Process
Why Work with Christy?
Christy Holcombe is an Affiliate Broker with Keller Williams Greater Chattanooga, specializing in first-time buyers, VA loans, rural properties, and investment real estate across Tennessee and Georgia. She's known for her patience, clear communication, and deep knowledge of the local market.
- No pressure — she works at your pace
- Deep knowledge of rural and suburban markets in TN & GA
- Experienced with FHA, USDA, VA, and conventional loans
- Available to answer questions every step of the way
Ready to Take the First Step?
Contact Christy today for a free, no-pressure consultation. She'll help you understand your options and get you started on the path to homeownership.