Your agent will be there for you to make sure the transition to your new property is a smooth experience. At Real Estate Partners Chattanooga, we believe in building lasting relationships. Even after you move into your dream home, your agent is there to provide resources and answer questions.

As you’re getting settled into your new home, we’ve provided a few situations you may encounter in the coming months and years that are important to think about.


Buyers should definitely take the time to review and evaluate their finances after a home purchase. One important step to consider is setting up an automatic electronic payment with your mortgage lender, which lets you avoid costly penalties associated with late payments.

Also, make a plan for gradually rebuilding your savings account, which many buyers deplete in order to make their down payment and pay for moving costs. As a homeowner, it’s more important than ever to have a cash reserve set aside for unanticipated maintenance that your home may require. In fact, a general rule of thumb is that homeowners should expect to spend about 1-3% of the cost of their home per year on maintenance and repairs.


Keep an eye on interest rates even after you purchase your home. If rates go down, you may be able to save money by refinancing, which simply means you take out a new mortgage at a lower interest rate to replace your original loan. Another common situation that calls for refinancing is the expiration of the initial,

fixed-rate period on an Adjustable Rate Mortgage (ARM). If prevailing fixed rates are substantially lower than the rate your ARM will carry once it adjusts, then it might make sense to refinance into a fixed-rate loan.

Today, many lenders offer no-cost refinancing, which basically means they take the costs and fees associated with refinancing and roll them into the interest rate. It’s a way for homeowners to lower their monthly payment with little or no money out of pocket.

While refinancing a mortgage has become much easier in recent years, it is still a major financial transaction with important implications. So be just as diligent in a refinance as you were in securing your original mortgage. Our partner, New American Funding, can assist you with your refinancing needs.


Whether it’s a fresh coat of paint, new hardwood floors, or a major kitchen remodel, most new homeowners have at least a few projects they want to undertake once they move in. Your agent can help you find a variety of service providers and tradesmen to perform work on your home. Routine maintenance and home improvements add important value to your investment and should not be put off.