Buying a First Home in Greenwood Indiana? What You Must Know

Nate Jones, CPCU, ARM, CLCS, AU
Jan 1
1 min read

Buying your first home is exciting—but it can also feel overwhelming. Greenwood, Indiana offers a mix of affordable neighborhoods, great schools, and family-friendly amenities. Here’s what first-time buyers need to know before making the big move.

1. Understand Greenwood’s Housing Market

Greenwood’s real estate market is competitive, with median home prices ranging from $250,000–$350,000 depending on location and features. Popular neighborhoods include:

Center Grove – Known for top-rated schools.
Old Town Greenwood – Charming historic homes and walkable amenities.
Newer Subdivisions – Modern layouts and HOA communities.

2. Budget Beyond the Purchase Price

Your monthly payment includes more than your mortgage:

Property Taxes (Johnson County rates)
Homeowners Insurance
HOA Fees (if applicable)
Maintenance Costs

3. Get Pre-Approved for a Mortgage

Pre-approval helps you know your budget and makes your offer stronger. Compare rates from local lenders and national banks.

4. Schedule a Home Inspection

Never skip this step. Inspections uncover issues like roof damage, plumbing problems, or foundation cracks—saving you thousands later.

5. Don’t Forget Home Insurance

Mortgage lenders require homeowners insurance before closing. It protects your investment from risks like fire, theft, and storm damage. Greenwood’s weather can bring hail and tornadoes, so make sure your policy covers these hazards.