First-Time Homebuyer’s Guide to DeSoto County, MS

Nov 20

Buying your first home is exciting… and a little overwhelming. Between mortgages, inspections, appraisals, and contracts, it’s easy to feel like you’re supposed to know a secret language.

The good news? You don’t need to know everything. You just need a clear roadmap and the right people on your side.

Here’s a straightforward, step-by-step guide for first-time homebuyers in DeSoto County, MS — including Hernando, Southaven, Olive Branch, Nesbit, and surrounding areas.

Step 1: Get Clear on Your Budget

Before you fall in love with houses on the internet, you need a realistic budget.

Ask yourself:

What monthly payment actually feels comfortable for my life?
How much do I have (or can I save) for a down payment and closing costs?
Do I have any upcoming life changes that might affect my income or expenses?

This isn’t about what you could stretch to afford — it’s about what will let you sleep at night.

Step 2: Get Pre-Approved With a Lender

Next, get pre-approved, not just “pre-qualified.”

A pre-approval:

Tells you what price range you should be shopping in
Makes your offers stronger and more competitive
Helps your agent move quickly when you find the right home

Working with a lender who regularly does loans in DeSoto County is a plus — they’ll be familiar with local appraisers, title companies, and any area-specific programs that might help you.

Step 3: Choose a Buyer’s Agent

Your buyer’s agent represents you and your best interests.

You want someone who:

Knows DeSoto County neighborhoods and market trends
Explains the process clearly in plain language
Is responsive and proactive
Has a strategy for multiple-offer situations and negotiation

You don’t pay the buyer’s agent directly in a typical transaction — their compensation is usually built into the deal structure — so there’s no reason to go through this alone.

Step 4: Define Your Needs vs. Wants

Without a plan, it’s easy to spin your wheels looking at 100 houses that don’t fit your life.

Make two lists:

Must-haves:

Number of bedrooms and bathrooms
General areas or commute range
One-story vs. two-story (if that matters)
Parking/garage needs

Nice-to-haves:

Specific finishes or upgrades
Extra flex room, office, or bonus space
Larger yard, certain type of lot, etc.

This gives you a filter so you’re looking at homes that actually make sense, not just whatever pops up online.

Step 5: Start Your Home Search in DeSoto County

With your pre-approval and criteria in hand, you and your agent will:

Set up a custom home search for DeSoto County (Hernando, Southaven, Olive Branch, Nesbit, and other areas that fit your commute and lifestyle)
Get automatic alerts when new listings hit the market
Tour homes that match your must-haves and budget

Pretty quickly, you’ll start to recognize what a good value looks like at different price points in this area.

Step 6: Make an Offer

When you find a home you love, it’s time to write an offer.

Your agent will help you:

Review recent comparable sales (comps)
Decide on a smart offer price based on the current DeSoto County market
Choose key terms: earnest money, closing date, inspection period, contingencies, etc.

In competitive situations, there are ways to strengthen your offer without just blindly throwing more money at it. A good agent will walk you through those options and the risks/benefits of each.

Step 7: Inspections and Appraisal

Once your offer is accepted, the home goes under contract, and two big things usually happen:

Home Inspection

You hire a professional inspector to evaluate the home’s condition
You receive a written report outlining any issues
You and your agent decide whether to request repairs, credits, or move forward as-is

No home is perfect, but this step helps you understand what you’re buying.

Appraisal

The lender orders an appraisal to confirm the home’s value
If the appraisal comes in at or above the contract price, great
If it comes in low, your agent will help you navigate your options

Your agent’s job is to help you stay calm, understand your choices, and protect your interests.

Step 8: Final Loan Approval and Preparing for Closing

As you get closer to closing:

Your lender will finalize your loan approval
You’ll get a Closing Disclosure outlining your final numbers
You’ll set up utilities to start in your name on or around closing day
You’ll schedule a final walkthrough of the home shortly before closing

This is where the paperwork gets intense behind the scenes, but your job is mostly to respond promptly to any lender or title requests and not open a bunch of new credit accounts right before closing.

Step 9: Closing Day – Getting the Keys

On closing day in Mississippi:

You meet at the title company or attorney’s office (or sign electronically if arranged)
You sign loan documents and final paperwork
Funds are transferred and the deed is recorded

Once everything is complete, you get the keys and officially become a homeowner.

Yes, it’s a lot of signatures. No, your hand will not fall off. Probably.

Step 10: After You Move In

The relationship doesn’t have to end once you get the keys.

As your agent, I stay available for:

Contractor and service provider referrals
Questions about future updates and resale
Market check-ins if you’re curious what your home might be worth down the road

Good homeownership is about making informed decisions over time — not just on day one.

Ready to Start Your First Home Search in DeSoto County?

If you’re thinking about buying your first home in Hernando, Southaven, Olive Branch, Nesbit, or anywhere in DeSoto County, you don’t have to figure it all out alone.

I’m Lori Philley, a REALTOR® based in Hernando, MS. I help first-time buyers understand the process, make smart decisions, and feel confident from pre-approval to closing.