Buying your first home is an exciting journey, but it can also feel overwhelming. Memphis offers a variety of neighborhoods and alluring housing options, so knowing what to look for can help you make a confident decision. From location to home features and long-term investment potential, there are many variables to consider.
This guide will break down the key features you should focus on when buying your first home in Memphis. Whether you’re looking for a cozy historic home or a new build with modern amenities at every turn, these factors will help you find a home that fits your needs and budget.
Size and Layout That Matches Your Needs
Your first home should fit your current lifestyle but also be flexible enough to meet your vision for the future. How much space do you really need? Although it may be tempting to go for the most expansive house you can afford, remember that more square footage means higher utility bills and more maintenance tasks.
Instead, focus on finding a property that fits your current lifestyle while offering flexibility. A one-bedroom or two-bedroom home might be perfect for now, but if you plan to work from home, start a business, or host guests frequently, an extra room could make a world of difference. Open floor plans are great for entertaining, while traditional layouts provide more privacy and purposeful spaces. Think about how you use your space daily.
Storage is another major factor. Does the home have enough closet space? What about kitchen pantries and cabinets? Is there a garage or other area for extra storage? A house may look spacious and open in photos, but without proper storage areas, it could quickly feel cramped and cluttered.
The key is finding a home that meets your current needs while allowing for future changes. A little extra space now can prevent the need to move sooner than expected.
Instead, focus on finding a property that fits your current lifestyle while offering flexibility. A one-bedroom or two-bedroom home might be perfect for now, but if you plan to work from home, start a business, or host guests frequently, an extra room could make a world of difference. Open floor plans are great for entertaining, while traditional layouts provide more privacy and purposeful spaces. Think about how you use your space daily.
Storage is another major factor. Does the home have enough closet space? What about kitchen pantries and cabinets? Is there a garage or other area for extra storage? A house may look spacious and open in photos, but without proper storage areas, it could quickly feel cramped and cluttered.
The key is finding a home that meets your current needs while allowing for future changes. A little extra space now can prevent the need to move sooner than expected.
Age and Condition
Memphis’ real estate landscape features a mix of old and new homes, each with its pros and cons. Historic homes in areas like Central Gardens and Cooper-Young are full of character, featuring original hardwood floors, detailed woodwork, and unique architectural details. That said, they may also require more maintenance.
Newer homes, often found in East Memphis and suburban areas, come with modern construction materials, better insulation, and sleek, energy-efficient features. They tend to have fewer immediate repairs, which can save you money after you move in.
Are you looking for a property that’s entirely move-in ready, or are you willing to take on a renovation project or two? Both options have pros and cons, so it’s important to weigh them carefully.
Regardless of the property’s age, always have a professional evaluate the condition of the roof, HVAC components, plumbing, and electrical work after your offer is accepted. Replacing any of these features and systems can be expensive, so understanding their condition before buying can prevent unexpected costs.
Newer homes, often found in East Memphis and suburban areas, come with modern construction materials, better insulation, and sleek, energy-efficient features. They tend to have fewer immediate repairs, which can save you money after you move in.
Are you looking for a property that’s entirely move-in ready, or are you willing to take on a renovation project or two? Both options have pros and cons, so it’s important to weigh them carefully.
Regardless of the property’s age, always have a professional evaluate the condition of the roof, HVAC components, plumbing, and electrical work after your offer is accepted. Replacing any of these features and systems can be expensive, so understanding their condition before buying can prevent unexpected costs.
Outdoor Space and Yard Maintenance
Outdoor space is important, but how much do you really need? If you love gardening, hosting barbecues, or need room for pets to roam and play, a spacious backyard might be a must-have. On the flip side, if you prefer low-maintenance living, a smaller yard or a townhome with a community green space could be a better fit.
Think about how much time and effort you’re willing to spend on outdoor maintenance. An expansive yard requires mowing, landscaping, and proper upkeep. If you travel often or prefer a hassle-free home, a smaller outdoor space or a simple patio may be the way to go.
Shaded areas, covered patios, and screened porches are great features to look for. If a backyard is high on your priority list, consider whether the space is already functional or if you’ll need to invest in professional landscaping.
Ultimately, buying your first home in Memphis is a major milestone in life and comes with various important decisions, but with the right approach, you can find a home that fits your lifestyle and budget seamlessly. Focus on what matters most to make a decision you’ll be happy with for years to come.
Find the perfect home for your needs in Memphis with Myers Cobb Realtors® guiding you to success.
Think about how much time and effort you’re willing to spend on outdoor maintenance. An expansive yard requires mowing, landscaping, and proper upkeep. If you travel often or prefer a hassle-free home, a smaller outdoor space or a simple patio may be the way to go.
Shaded areas, covered patios, and screened porches are great features to look for. If a backyard is high on your priority list, consider whether the space is already functional or if you’ll need to invest in professional landscaping.
Ultimately, buying your first home in Memphis is a major milestone in life and comes with various important decisions, but with the right approach, you can find a home that fits your lifestyle and budget seamlessly. Focus on what matters most to make a decision you’ll be happy with for years to come.
Find the perfect home for your needs in Memphis with Myers Cobb Realtors® guiding you to success.
