the real estate market

Renting a house or apartment is quite a challenge in Tuscaloosa. Downtown apartments and houses tend to be overpriced due to their proximity to the university and the number of students who want to live in that area. You will probably have the most luck out in the suburbs finding the most value for your money. Additionally, especially because of the automotive industry, there are a lot of expats around who also want to rent a house or apartment.

If you would like to see some numbers and get an idea of average renting prices, RentCafé is a great resource.

There you will find average prices and some rental offers.

Good platforms to start looking for homes are also Zillow and Trulia.

Both of them provide you with an app you can download for Android and Apple.

If you want to buy a house in Tuscaloosa the first thing you have to know is that house prices vary drastically depending on the school district. In districts with good schools the houses are more expensive, while houses are much cheaper in areas with schools with lower ratings.

No matter what your personal situation, we highly recommend speaking to an agent about buying a house in the US.

Why?

• Working with a buyers agent is no cost to the buyer. At the time of the listing, the seller signs an agreement stating that they will pay all realtor fees. 
• Tuscaloosa residential sales are 12.2 % above the 3-year quarterly average and 20.6% above the 5-year quarterly average. 
• As of now there is a shortage of listings, therefore you should be prepared for multiple offer situations. 
• The average buyer looks at 8 houses before they place an offer on a house. 

How it works:

• The first step in buying a home is getting approved for a loan from a lender.
• It is important to be very honest with your realtor about what you want in the home you are looking for. 
• Once you decide on a house, the realtor will sit down with you and tell you step by step what to expect throughout the process. 
• If getting a loan, the offer is contingent upon appraising for at least the agreed upon price. If it were not to appraise for the agreed upon price, then the contract is open for renegotiating. If the house were to appraise for more than the agreed upon purchase price, then the purchase price remains the same. 

If you find the right home:

Inspections: If you choose to get inspections, you typically have about 15 days, starting with the date you went under contract. Within the 15 days, you can get any inspection that you choose, and if there is anything in the inspections that you do not like, you can cancel the contract, but it has to be within the inspection period. Your realtor can provide you with a list of inspectors, and you are able to choose which one is best for you. Your inspector will give you a written inspection report. If you choose, you can negotiate repairs. 

Closing on a home: You should expect to do a final walk through a few days before closing to ensure that the house is still in the condition that it was at the time of the inspection. It is also the time to ensure the repairs have been completed correctly. 

When the time of closing arrives, your realtor will provide you a list of the items you need. It is very important to consult a realtor to ensure that everything goes smoothly. Different states and different markets have different standards. So it is extremely important to consult a local expert to oversee one of the largest purchases you will ever make.