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

DeSoto County MS Real EstateBuying a Home

Nov 20

Buying your first home is exciting… and a little overwhelming. Between mortgages, inspections, appraisals, and contracts, it can feel like you’re supposed to speak a whole new language.

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

This guide walks you through the first-time homebuying process in DeSoto County, MS — including Hernando, Southaven, Olive Branch, Nesbit, and surrounding areas.

Step 1: Get Clear on Your Budget

Before you start falling in love with listings, get realistic about numbers.

Ask yourself:

What monthly payment actually feels comfortable with my lifestyle?
How much do I have (or can I save) for down payment and closing costs?
Are there upcoming changes (job, family, car purchase) that could affect my budget?

This isn’t about what you could stretch to pay — it’s about what lets you sleep at night after you move in.

Step 2: Get Pre-Approved With a Local Lender

Your next move is a pre-approval, not just a quick pre-qualification.

A solid pre-approval:

Tells you what price range you should realistically shop in
Makes your offer much stronger in the eyes of sellers
Helps your agent move fast when the right house hits the market

Working with a lender who regularly closes loans in DeSoto County can be a big help — they know local appraisers, title companies, and typical timelines.

Step 3: Choose a Buyer’s Agent

Your buyer’s agent represents you.

You want someone who:

Works DeSoto County every day (Hernando, Southaven, Olive Branch, Nesbit)
Explains the process in plain language
Is responsive and proactive with communication
Has a clear strategy for offers and negotiations

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

Step 4: Define Your Must-Haves vs. Nice-to-Haves

Without a plan, it’s easy to waste time on homes that were never going to work.

Make two lists:

Must-haves:

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

Nice-to-haves:

Upgraded finishes (granite, LVP, etc.)
Extra flex space: office, bonus room, playroom
Larger or more private yard

These lists help us quickly filter homes in DeSoto County so you’re only touring properties that actually make sense for your life and budget.

Step 5: Start Your Home Search in DeSoto County

With your pre-approval and criteria ready, we:

Set up a custom home search across DeSoto County (Hernando, Southaven, Olive Branch, Nesbit, and other fits)
Turn on instant alerts so you see new listings as soon as they hit
Start touring homes that match your must-haves and price range

After a few showings, you’ll begin to recognize which homes are well-priced and which ones are… ambitious.

Step 6: Make a Smart Offer

When you find “the one,” it’s time to write an offer.

I’ll help you:

Review recent comparable sales (comps) in that specific part of DeSoto County
Decide on a competitive but realistic offer price
Structure key terms: earnest money, closing date, inspection timelines, contingencies, and any seller-paid costs

In a competitive situation, you have options beyond just “throw more money at it.” We’ll walk through ways to strengthen your offer and the pros and cons of each.

Step 7: Inspections and Appraisal

Once your offer is accepted, the home goes under contract — but we’re not done yet.

Home Inspection

You hire a licensed home inspector
They evaluate the home’s major systems and structure
You receive a written report
We review the report together and decide if we will:
- Ask for repairs
- Request a credit
- Move forward as-is
- Or, in some cases, walk away

No home is perfect. The goal is to understand what you’re buying so there are fewer surprises later.

Appraisal

Your lender orders an appraisal to confirm the property’s value
If it appraises at or above the contract price → great
If it appraises below, we’ll discuss options with the seller and lender

I’ll help you navigate the inspection and appraisal stages so you understand what’s happening and what your choices are.

Step 8: Final Loan Approval and Closing Prep

As you move toward closing:

Your lender will request final documents and issue clear-to-close when everything’s good
You’ll receive a Closing Disclosure with your final numbers
You’ll set up utilities (power, water, internet, etc.) to start in your name
We’ll schedule a final walkthrough just before closing to confirm the home’s condition

This is the paperwork-heavy part behind the scenes. Your main job is to respond quickly to requests from your lender and avoid taking on new debt (no new cars or surprise credit cards) right before closing.

Step 9: Closing Day – Getting the Keys

On closing day in Mississippi, you’ll:

Sign the loan and closing documents (yes, there are a lot)
The lender funds the loan
The deed is recorded and ownership officially transfers

Once that’s done, you get the keys and the house is yours.

It’s a big moment. You’re not just “renting from the bank” — you’re building equity and planting roots.

Step 10: After You Move In

The relationship doesn’t have to end at closing.

As your agent, I can continue to help with:

Contractor, handyman, and service referrals
Questions about future upgrades and resale value
Periodic market check-ins to see how your home’s value is trending

Good homeownership is about making smart decisions over time, not just during the 30–45 days you’re under contract.

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, I’d be happy to help you map out the process.

I’m Lori Philley, a REALTOR® based in Hernando, MS. I help first-time buyers understand each step, make confident decisions, and avoid unnecessary stress.