Mississippi is a state known for having a classic southern style. If you are looking for affordable housing, Mississippi real estate is some of the cheapest in the land. Compared to the national average of about $200,000, the median prices for homes in Mississippi is right around $135,000. In addition to getting a good deal on your house, Mississippi also has the lowest cost of living. Mississippi used to be one of the five richest states in the nation, but that all changed with the start of the civil war. Before the war, half the population was made up of slaves and the main industry was cotton. With those slaves free, it shouldn’t be surprising that the economy took a turn for the worst. Lingering prejudice dampened economic growth as well. That is why so many people believe that Mississippi is just starting to get its bearings and flourish. Consequently, now might be a good time to invest in the region.

Most housing units across the state are single-family homes that are owned by the families who occupy them. There are also rental homes and apartments but they are more common in populated areas like Jackson, Gulfport and Hattiesburg. Land is Mississippi’s most valuable and plentiful resource. Since Mississippi is not densely populated and there are thousands of acres for sale. Investors can usually finds land parcels as small as one acre or others as large as several hundreds of acres. If you like water, there are lots on the narrow southern coast and acreage along the state’s six rivers. If you do build by a river, leave plenty of room for flood erosion though. With rich soil and plentiful lumber, farming and forestry are two of the most important industries in the state. The woods make the state a good place for hunting and outdoor recreation as well.

There are five different regions in Mississippi: the hills, the pines, the capital, the delta and the coastal region. Outdoor activities are plentiful in every region, but each area has its own unique flavor. For example, the coastal region in the only part of the state with beach access while the capital region is famous for its deer, quail and turkey hunting.The natural beauty of the place coupled with well governed cities and all the amenities and necessities of modern day life make Mississippi a desirable place to live in. If you are interested in Mississippi real estate for its housing, for its resources or for development opportunities, there are plenty of options to choose from. In fact, there are so many available properties, that it might be wise to have a Realtor help you sort them out.

If you’re interested in the Mississippi real estate market, you might be thinking about getting in now. While the national housing market is slowing, there’s an excellent opportunity to find hot properties in Mississippi, particularly with the boom in development that is occurring all along the Gulf Coast in the wake of the hurricanes a few years ago. However, Buying Mississippi real estate, like buying real estate anywhere, can be intimidating, confusing and frustrating. There are so many processes to go through, so many steps along the way, and so many ways a sale can go wrong. Here are a few helpful tips to guide you through the process of buying Mississippi real estate.

1. Figure out how much you can afford. What you can afford to spend on your Mississippi real estate investment depends on your income, credit rating, current monthly expenses, the money you can put as a downpayment and the interest rate you qualify for. There are home loan calculators available online that can give you a rough idea of your Mississippi real estate financial framework, but as interest rates fluctuate and different lending institutions have different guidelines, it is best to visit a lender to find out for sure. A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that all important downpayment.

2. Know your rights. There are several pamphlets available online that go over your rights as a potential Mississippi real estate owner. Basically, it is illegal for you to be denied the purchase of a property on the basis of race, color, national origin, religion, gender, familial status, or disability. If you feel that you have been the victim of housing discrimination at any point of your Mississippi real estate purchase, report it immediately. Shop for a loan. Save money on your Mississippi real estate purchase by doing your homework. Talk to several lenders, compare costs and interest rates, and negotiate to get a better deal. Consider getting pre-approved for a loan. Learn about homebuying programs.

3.  Shop for a home. You can do this yourself or hire a Buyers Agent. If you are a first-time Mississippi real estate buyer, you may want the expert advice of an agent to help you negotiate price, and your agent may be aware of Mississippi real estate options you do not know of. If you choose a home in a neighborhood with a Home Owners Association, be sure to request a copy of the Home Owners Association packet, so you can review before closing. Make an offer. Discuss the process with your Mississippi real estate agent. If the seller counters your offer, you will need to negotiate until you both agree to the terms of the sale.Get a home inspection. Make your offer contingent on a home inspection. An inspection of any potential Mississippi real estate purchases will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs. Shop for homeowners insurance. Lenders require that you have homeowners insurance for your Mississippi real estate. Be sure to shop around to find the best deals.

4. Sign papers. You are finally ready to go to “settlement” or “closing.” Be sure to read everything before you sign so there aren’t any nasty surprises.
Using this guide for buying Mississippi real estate should help smooth out the process for you. There are numerous resources available online, and a Mississippi real estate agent can answer questions for you every step of the way. A real estate professional is knowledgeable in this process, and can leverage their experience and relationships throughout the process. This can be particularly beneficial in today’s real estate market since so many properties are continually going to foreclosure and repossession, making lenders and other parties more wary of prospective buyers. But with a little bit of patience and a lot of due diligence, you and your realtor will be able to find the Mississippi property of your dreams.