Building Futures,

First-Time Home Buyer in Knoxville, TN?

We'll Guide You Every Step of the Way.

Buying your first home is one of the most exciting — and sometimes overwhelming — milestones of your life. In Knoxville, TN, first-time buyers have a genuine advantage: home prices that remain affordable compared to national averages, a wide variety of neighborhoods to choose from, and a strong local economy that supports long-term home values. If you've been renting and wondering whether now is the right time to buy, the answer for many people in East Tennessee is yes — and we can help you figure out if it's right for you.

The Abbott Mary Team specializes in guiding first-time home buyers through every stage of the process. We take the confusion out of home buying by explaining each step clearly, connecting you with trusted local lenders, and advocating fiercely on your behalf from your first showing to the moment you receive your keys. Learn about our full buyer services, or contact us today to get started.

Getting Started

What You Need Before You Start Looking

Before you start browsing listings, there are three things to get in
order: your credit, your pre-approval, and your budget. These aren't
just checkboxes — they determine what you can buy, how strong your offer
will be, and how quickly you can move when you find the right home.

Credit Score: Most loan programs require a
minimum credit score of 620–640. FHA loans, which are popular with
first-time buyers, require a 580 or higher for a 3.5% down payment. The
higher your score, the better your interest rate — and over a 30-year
mortgage, even a small difference in rate adds up to tens of thousands
of dollars. Pull your free credit report at AnnualCreditReport.com and
review it for errors before applying.

Pre-Approval: A pre-approval letter from a
lender tells sellers you are a serious, qualified buyer. In Knoxville's
competitive market, making an offer without a pre-approval letter puts
you at a significant disadvantage. We can connect you with trusted local
lenders who can pre-approve you quickly and walk you through your
options. Use our mortgage calculator to get a rough sense of what your monthly payment might look like at different price points.

Budget: Your pre-approval amount is the ceiling —
not a target. Factor in property taxes, homeowner's insurance, HOA fees
if applicable, and maintenance costs when calculating what you can
comfortably afford each month. A good rule of thumb is to keep your
total housing payment under 28–30% of your gross monthly income.

Get started

Or, start viewing the latest properties to hit our local market.

Know the Market

Understanding Knoxville's Real Estate Market as a First-Time Buyer

Knoxville's real estate market is competitive but more accessible
than many comparable mid-sized cities. Entry-level homes — typically
priced between $200,000 and $325,000 — exist across a range of Knoxville
neighborhoods, though inventory at this price point moves quickly.
Well-priced homes in desirable areas often receive multiple offers
within days of hitting the market.

As a first-time buyer, this means preparation is everything. You
need to have your pre-approval ready, know what you're looking for, and
be ready to move quickly when the right home comes up. That's exactly
what our VIP Home Search program is designed for — giving you early access to properties and helping you act with confidence. Explore Knoxville neighborhoods and current listings here.

Connect with an agent

Neighborhoods

Knoxville-Area Neighborhoods by Budget Range

Under $250,000: This price range offers the most
competition and the fewest options in Knoxville proper. Areas like North
Knoxville, parts of South Knoxville, and some East Knoxville
neighborhoods offer entry-level inventory. You may also find more
options in surrounding communities like Maryville, Oak Ridge, and smaller towns in the metro area.

$250,000–$350,000: This is the sweet spot for many first-time buyers in the Knoxville area. Halls,
Powell, and parts of West and North Knoxville offer solid inventory in
this range, often with updated kitchens, good yard space, and access to
well-rated Knox County schools.

$350,000–$450,000: At this price point, buyers
gain access to newer construction, more square footage, and
better-positioned neighborhoods. West Knoxville zip codes like 37922 and
37923, as well as parts of Farragut, become more accessible. HOA communities with amenities are also common in this range.

$450,000+: Farragut, Hardin Valley, and select
West Knoxville neighborhoods dominate this range, offering larger homes,
premium school zones, and established communities with long-term resale
strength.

Ready to Start? Let's talk

Down Payment Assistance Programs in Tennessee

Many first-time buyers don't realize how much help is available to
reduce upfront costs. Tennessee has several programs worth knowing about
before you assume you need a full 20% down.

THDA Great Choice Home Loan:

The Tennessee Housing Development Agency (THDA) offers 30-year fixed-rate loans through FHA, VA, USDA, and conventional programs for first-time buyers. You need a minimum 640 credit score and must complete a homebuyer education course. Income and purchase price limits apply by county.

THDA Great Choice Plus:

Paired with a Great Choice loan, this down payment assistance program
offers two options. The deferred option provides up to $6,000 toward
your down payment or closing costs at 0% interest, forgiven at the end
of 30 years. The amortizing option provides up to 5% of the purchase
price (maximum $15,000), repaid over 30 years at the same rate as your
first mortgage.

THDA Homeownership for the Brave:

Active-duty military, veterans, and surviving spouses can access the
Great Choice program without the first-time buyer requirement, and may
qualify for a reduced interest rate.

FHA Loans:

FHA loans require as little as 3.5% down for buyers with a 580+ credit
score and 10% down for scores between 500–579. They are more forgiving on debt-to-income ratios than conventional loans, making them accessible for buyers who have steady income but haven't yet built significant
savings.

Our team works alongside trusted local lenders who know these programs inside and out. Contact us and we'll connect you with the right resources.

Step-by-Step: The First-Time Buyer Timeline

Step 1 — Get Your Finances in Order (Weeks 1–2):
Check your credit, pay down high balances if needed, and gather your financial documents — tax returns, pay stubs, bank statements, and W-2s. The cleaner your financial picture, the smoother your pre-approval.

Step 2 — Connect With a Buyer's Agent (Week 1): This costs you nothing as a buyer — the seller pays buyer's agent commissions in most transactions. Meet our team and let's talk about your goals before you ever look at a single listing.

Step 3 — Get Pre-Approved (Week 2): Apply with a lender and receive your pre-approval letter. We'll recommend trusted Knoxville-area lenders who close on time and communicate clearly.

Step 4 — Start Your Home Search (Weeks 3–8+): Using MLS access and our VIP Home Search program, we identify properties matching your criteria. We tour homes together
and give you honest assessments of value, condition, and potential.

Step 5 — Make an Offer (When You're Ready): We craft a competitive offer based on comparable sales data and current market conditions. We negotiate on your behalf through price, contingencies, and terms.

Step 6 — Inspection and Due Diligence (Days 1–14 After Contract): We schedule a home inspection and review the results with you. We negotiate repairs or price adjustments when appropriate and help you understand what you're buying.

Step 7 — Final Walk-Through and Closing: You do a final walk-through to confirm the property's condition, then attend closing to sign documents and receive your keys. The whole process from offer to close typically takes 30–45 days.

Common First-Time Buyer Mistakes — And How We Help You Avoid Them

Skipping pre-approval: Looking at homes before you have a pre-approval letter is how buyers fall in love with homes they can't buy — or lose out to buyers who were ready. Get pre-approved first.

Stretching to the top of your budget: Your lender will approve you for the maximum you qualify for — not the
maximum you should spend. Factor in all ownership costs when setting your real budget, and leave room for life.

Waiving the inspection: In competitive markets, some buyers waive inspections to win offers. We don't recommend this for first-time buyers. A home inspection protects you from expensive surprises and gives you negotiating leverage on real issues.

Making large purchases or changing jobs during the process: Lenders re-verify your income and credit before closing. A new car payment, large credit card purchase, or job change can jeopardize your loan. Keep your financial life stable from pre-approval through closing.

Choosing the wrong agent: Your buyer's agent is your advocate, advisor, and negotiator. Choose someone with local market knowledge, clear communication, and your interests — not their commission — at heart. See what our past buyers say about working with us.

Frequently Asked Questions — First-Time Buyers in Knoxville

Do I really need a 20% down payment? No. Most first-time buyers put down far less — FHA loans require as little as 3.5%, and THDA programs can help cover part of that. You will pay private mortgage insurance (PMI) if you put less than 20% down on a conventional loan, which adds to your monthly payment, but for many buyers the math still favors buying over continuing to rent.

How long does it take to buy a home in Knoxville? The search phase varies — some buyers find their home in a few weeks, others take several months. Once under contract, closing typically takes 30–45 days. Budget 2–4 months total from the day you start your search.

What are closing costs? Closing costs are fees paid at the end of the transaction — typically 2–5% of the purchase price — covering lender fees, title insurance, prepaid taxes and insurance, and other items. We walk every buyer through a detailed estimate of closing costs before they make an offer.

Can I use a gift for my down payment? Yes, in most cases. FHA, VA, and USDA loans all allow gift funds for the down payment. Conventional loans typically allow gifts as well, with some documentation requirements. Your lender will guide you through the gift letter process.

What's the first thing I should do? Call or message us. We'll have an honest conversation about your situation, timeline, and goals — and give you a clear picture of what the process looks like for you specifically. There's no pressure and no obligation.

In the Words of our Clients

Success Stories

"Abbott is hands-down the best realtor you’ll ever need. He is incredibly easy to communicate with and possesses a wealth of knowledge about homes of all ages. Beyond just showing houses, Abbott is a master at handling the complexities of offers and n…

"5 stars. Hands down the team you want handling your real estate services. They deliver luxury service on every detail. Super knowledgeable."

"I’d advocate for Abbott any day of the week! Amazing!"

"Professional, knowledgeable and incredibly helpful!"

"Abbott has been a great help and answers all questions one could have. His enthusiasm is contagious and he is very helpful!"

"Abbott and Jacob have been awesome to work with! The are professionals in the real estate space!"

"Andrew Kennedy is one of the best! Personable, takes the time to answer all the questions, quick to respond to follow up questions. Even after the sale, he was still there to ensure we had all we needed. Thanks for a great experience, we'll use him a…

"We had a fantastic experience with Andrew Kennedy as our realtor. The whole process went smoothly and stress-free. He was able to find a house quickly in our desired price range and location. If you are searching for a realtor who is a person of inte…

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New to the market

Handpicked Listings

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$179,000

912 Raccoon Valley Rd

Maynardville, TN

2 Beds 1 Baths 1,612 Sqft

$355,000

319 Ironwood Drive

Kodak, TN

3 Beds 3 Baths 2,800 Sqft

$314,900

1462 Sandy Ridge Rd

Dandridge, TN

2 Beds 2 Baths 1,326 Sqft

$249,000

2610 Woodrow Drive

Knoxville, TN

2 Beds 1 Baths 1,064 Sqft

$499,900

605 Summerdale Drive

Knoxville, TN

3 Beds 2 Baths 2,254 Sqft

$187,000

3851 Tambark Drive

Knoxville, TN

2 Beds 1 Baths 977 Sqft

$284,900

1505 Red Maple Court

Knoxville, TN

3 Beds 2 Baths 1,248 Sqft

$245,000

169 Hendrix Drive

Oak Ridge, TN

2 Beds 2 Baths 1,206 Sqft

$276,999

2904 Greenway Drive

Knoxville, TN

3 Beds 2 Baths 1,344 Sqft

$124,900

543 Keylon Drive

Harriman, TN

2 Beds 1 Baths 1,358 Sqft

$189,000

2616 Woodrow Drive

Knoxville, TN

3 Beds 1 Baths 1,219 Sqft

$449,000

190 Country Walk Drive

Powell, TN

4 Beds 2 Baths 3,021 Sqft

$307,500

7015 Bert Newman Lane

Knoxville, TN

3 Beds 1 Baths 1,490 Sqft

$249,000

221 Woodby Fridley Rd

Sweetwater, TN

5 Beds 3 Baths 2,128 Sqft

$475,000

2522 Piney Grove Church Rd

Knoxville, TN

5 Beds 2 Baths 2,360 Sqft

$325,000

975 Norwood Village Lane

Maryville, TN

4 Beds 2 Baths 1,321 Sqft

$537,500

2859 Luther Catlett Circle

Sevierville, TN

4 Beds 3 Baths 3,132 Sqft

$215,000

1115 W Parkway Ave

Knoxville, TN

2 Beds 1 Baths 1,033 Sqft

$289,000

221 Heritage Crossing Drive

Maryville, TN

3 Beds 2 Baths 1,478 Sqft

$385,000

8941 Colchester Ridge Rd

Knoxville, TN

3 Beds 2 Baths 1,720 Sqft

$282,000

741 Catherine Crisp Way

Kodak, TN

3 Beds 2 Baths 1,456 Sqft

$344,900

7315 Windtree Oaks Way

Knoxville, TN

3 Beds 2 Baths 1,422 Sqft

$279,000

154 Nicole Chase Lane

Knoxville, TN

3 Beds 2 Baths 1,092 Sqft

$500,000

4207 Holston Hills Rd

Knoxville, TN

5 Beds 2 Baths 3,446 Sqft

Ready to take

The next step?

Not sure if buying or selling is the right move right now? Looking for a trustworthy contractor or simply need expert advice? We’re here to listen, guide, and support you. Whatever your needs, we’d love to learn more about your goals! Reach out to us using any of the options here—we’re always happy to help.

Let's Talk Your Goals