For many potential homeowners, the process of buying can be a stressful process! However, it doesn’t have to be! We have put together 5 tips for buying a house in Texas!
A home is one of the most expensive purchases you will ever make, and you likely don’t need to rush. By taking your time and learning about all of your options, you will be able to find the right home for you!
5 Tips for Buying A House in Texas
Tip 1 – Start Saving Your Money Right Away
If you plan to use financing, you need to save up 20% for the down-payment using a conventional loan. If you decide to get an FHA loan, the amount of your down-payment will drop to only 3.5%, however, you will need to carry additional mortgage insurance. If you are using financing, it is important to get pre-approval from the bank before making an offer. Sellers will not take you seriously without pre-approval. If you are paying in cash, this part of the process becomes a lot easier.
Tip 2 – Understand All The Expenses Involved
There are many additional costs to the house itself, and they add up quickly. If agents are involved, there are commissions and associated costs. There will also be closing costs, transfer fees, and the likely repairs and upgrades you will want to make before moving in. Then there are moving costs, boxes, and the time spent packing and unpacking your belongings. Once you are all moved in, decorating is next on the to-do list.
Tip 3 – Make Some Lists
List out what you “must-have” such as the number of bedrooms and commute times. Next, list out what you would really enjoy having, such as a pool or an island in the kitchen. Finally, list out what you absolutely don’t want. After this final step, determine the maximum price you can afford, and stick to it. It’s very easy to make decisions based on emotion, and these lists will help you avoid that!
Tip 4 – Look For Homes Both On & Off The Market
There are many great homes for sale off the market. Many sellers choose to sell without using an agent or the MLS. Companies such as Texas Direct Home Buyers have amazing inventories, with homes available for a direct purchase. In the end, buying a home directly from a seller can be a better way to find a deal. What the seller saves in advertising and commissions, is often passed down to you!
Tip 5 – Consider Both The Long & Short Term
You will likely be living in your new home for a while. This house should meet your current needs, and also be a place you can see yourself in the future. Ensure that your property is “timeless”, so if you decide to sell it later on, the resell will be profitable.
It’s important to go over all your options when buying a home in Texas. There are many paths you can take to become a Texas homeowner! We would love to answer any questions you may have and help take the hassle out of buying the traditional way! Get in touch with us today to see what we currently have in our inventory!
Do you want to buy a house in Texas? We can help! Send us a message or give our team a call now! (281) 937-3780