Lets Talk Texas Hill Country Real Estate

Real Estate Editor, SA Monthly Magazine | Texas Hill Country Realtor®

Lets Talk Texas Hill Country Real Estate

Buying a Home

BUYING A HOME - Elizabeth Cousin | Interior Image

So, you made the decision to pursue buying a home! Congratulations!

Purchasing a home is one of the most significant investments in your life! It can also be one of the most stressful endeavors of your life. Taking the time to thoroughly prepare can significantly reduce the associated stress and potential frustration of purchasing a home! Define the expectations of your new home, outline all the financial responsibilities which will be attached to maintaining your home and move through the process with ease! I reiterate, taking this time and making educated decisions prior to purchase will pay dividends to your health and happiness down-the-line!

Let’s get started.

Combined with your recommended prerequisite preparation, statistics prove that partnering with an experienced realtor can alleviate a lot of the stress associated with the home buying process! It is possible for finding and purchasing a home to feel natural, easy and fun.

Remember, this is one of the most important investments of your life! Your selection of parties to guide you through this very important process should be commensurate to the importance of the investment you are making! The family member, friend or neighbor down the street may not always be the best real estate professional for your needs.

Do not lose sight of the fact that in most cases you’re not searching for a house, you’re buying a home! A home you which will embody many years of family memories!

Now, Let’s start with you!

· How big is your family? Do you have plans to expand?

· What type of home are you interested in purchasing? (Single-Family, Condo, Townhouse)

· What kind of community would you like to become a part of?

For some home buyers, living in a specific neighborhood takes precedence above all else, whereas, for others, the home itself is more important. In a perfect world, you’d find the ideal home, in your neighborhood of choice, at a price you can afford, but realistically, most people will have to make some compromises.

· Are schools going to be a factor? If so, researching the quality of schools in the area you purchase is very important in alleviating frustrations down the line!

· Based on your income and assets, what kind of home can you comfortably afford? Keep in mind that your mortgage is only a piece of the cost of ownership of your home! Things break, grass grows, pools must be maintained, etc. Calculating all these expenses prior to purchase will ensure that you do not find yourself underwater once you move in!

Buying a home is a very big deal but going in unprepared can put you at a big risk of overextending yourself and getting too big of a mortgage. All else aside, the size of your mortgage and your bottom line should come first when it comes to buying a home. Lenders assess your affordability, but they don’t take all of your expenses into account! So even though you’re approved for a certain amount, you can find yourself stretched too thin.

· Make a list of the features you want in a home!

The number of bedrooms, a fenced yard, granite countertops, a garage, etc.–and then rank them in terms of priorities. Decide whether the house or the neighborhood matters more to you, or whether you’re willing to make a longer commute in order to own a home with a larger lot.

· Have you saved for the down payment?

Nearly all mortgage loans and lenders require some amount of cash as a down payment. The amount you’ve set aside for this will determine the kind of mortgage you qualify for. It will also impact how much you can afford to borrow for a home.

· Compare Mortgage Lenders!

· Get Pre-Qualified


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