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Have you been dreaming of buying a house in Tupelo, Mississippi – The birthplace of ‘The King’ Elvis Presley? But you know nothing more than that about the place and the housing market here? That’s fine. Because we have taken all the effort to compile information in this article to back your decision to buy a new house in Tupelo.
That’s right! We have managed many houses for sale in Tupelo, MS the last years while working in the real estate market of Tupelo for decades, and we have covered all the things you will need for your mission. So, let’s get down to it.
Reasons to Move in Tupelo
Being the birthplace of Elvis Presley can’t be the only reason for anyone to buy a new house in Tupelo. The locality is undoubtedly safe and healthy for a great lifestyle. You must know some of the many factors that you are probably contemplating or neglecting while looking for homes for sale.
Affordable Education:
Higher education in Tupelo is pretty reasonable, and the average tuition cost in Tupelo is $5000. Plus, Tupelo has some of the best colleges and schools in Mississippi, to help you save a lot on your kids’ distance education.
Low-Cost Living:
If you believed that paying a higher cost for living isn’t the only way to bring a better lifestyle, you must have thought about Tupelo at the back of your mind. The city is well equipped with all facilities required to live your life effortlessly. And taken from housing, groceries, utilities, transportation, to all the categories in Tupelo are ranked the cheapest in Mississippi.
Food:
Music is food to your soul, but you need real food on the table to live. The city has plenty of soul food besides soul music. You might need to invest some extra time into your regular workout routine after shifting to Tupelo and savoring its cuisines.
The Housing Market in Tupelo:
Before you start packing your belongings and set your mind to shift to Tupelo, you must know about the housing market. Tupelo is one of the least expensive markets in Mississippi, having homes of various sizes and ranges and extraordinary localities.
Buying a new house in Tupelo is a process done by the seller and the buyer together. Both parties take equal part while transferring the new owner’s name on each of the documents, which indicates you are the new owner of a house. The inventory is on the lower side right now, causing a rising in home prices. But the good news is that if you want to buy a house soon, you will also benefit from the low interest rate for your home loan, as it will also rise along with the home prices with time.
What Are the Costs and Prices of Houses in Mississippi Right Now?
If we shortlist some properties for you in Tupelo and you happen to like any of those, the next thing you would be excited about is the cost of the house. Even while looking for a new home in Tupelo, you need to fix a tentative budget in your mind to make the process easier. But if you are nowhere on the page as you are clueless about the price ranges of Tupelo homes, let us take you there.
If you consider buying a median range house in Tupelo, you can set an average budget of $1,30,560. The price is promoted by 6.8% from what it was last year, and the marketers are predicting an additional 6% rise in the upcoming year. Houses that are sold measuring each square foot may cost you around $98 per square foot, and a medium-sized home may cost you about $1,90,700.
If you are not feeling this is to be the right time to buy a new home in Tupelo, don’t worry. There are many apartments for rent in Tupelo, MS and you can get one in a very safe and friendly society just by paying a meagre rent amount of $1200 per month.
There are many places to visit in Tupelo and many things to do with your friends and family. The first thing is to find you a great home to buy. If buying a new home is your next to-do task, let us make it easier for you. Jumper Realty is well-equipped with a catalogue of the most charismatic homes for sale, and houses for rent. Whatever be your budget, we have a home for everyone. Call us today at (662) 286-2828, and talk to our new home buying expert and save dollars in your process of buying a new home.
FAQS:
How Can I Find an Affordable House for Sale?
Ans. Jumper Realty can smoothly find you an affordable house for sale in Tupelo. We have an extreme hold of the market, and our catalog consists of the most premium and alluring properties you would love to see at least once.
Is it Affordable to Build or Buy an Apartment?
Ans. Buying an apartment is every way cheaper than building your own house; as while purchasing an apartment, you pay the cost of the property, including your home and the land on which the apartment is built. On the other hand, making your own home requires a private area.
What Months Are the Best to Buy a House?
Ans. If you are looking to buy a house in Tupelo, this is the right time. The bank interest rates are lower at this moment, and you can get lucrative deals for your home loans. The prices of the houses are also on the verge of getting higher anytime soon.
Which state Has Affordable Houses for Sale?
Ans. Mississippi is in the deep South region of the US, with some of the cities that are worthy of living and also have a low cost of living. Thus, if you are thinking of living like a king, you can consider Mississippi.
How Long Does it Take to Buy a House?
Ans. Buying a house on your own is a lengthy process. Sometimes, it can take as little as a month, and sometimes it is as much as nearly a year. Finding the right home to buy is the most time-consuming step of all. Jumper Realty can make the process easier by finding you some of the best properties in the city and make your experience of buying a home hassle-free.
What Percentage Do Most Realtors Charge?
Ans. The average real estate commission that the realtors in Mississippi charge are 5% to 6% of the final selling price of the home. The payable fees are split between the buyer and the seller.
How Do I Buy a House in Mississippi?
Ans. Buying a house in Mississippi is a process:
- Check your financial situation to fix a budget
- Find a reliable real estate agent (You got Jumper Realty!)
- Read the local market trend of housing
- Get pre-approved for a home loan
- Start hunting (We at Jumper do that for you)
- Make an offer
- Negotiate till you get the best deal
- Close the deal
- Leave the paper works on us at Jumper Realty
