You’re a first-time homebuyer — congratulations! This is a monumental life event. Plus, the Houston area is a great place to plant your first set of roots. After all, the real estate market is fantastic, and the cost of living is below the national average. On top of that, Houston is a fun city with lots to do all year long. However, homebuying can be an intimidating and stressful affair — especially for a first-timer. At times, you may feel like you’re in over your head, but don’t worry. Read on for the top tips all first-time homebuyers should know.
Tips for First-Time Homebuyers
The overall keys to getting a great deal on a place you’re proud to call home are being prepared, doing your research, and keeping your emotions and expectations in check. If you incorporate the following tips into your house hunt, you’re sure to be a successful and savvy first-time home buyer.
Know what you can afford.
Make a list of all of your monthly expenses (excluding rent). Subtract your expenses from your taxed monthly income to determine the monthly mortgage you can afford. On top of this, don’t forget to save up for the down payment. Most down payments are a minimum of 3% of the total cost of the house. However, depending on the lender, the minimum down payment can reach up to 20%. Be prepared for closing costs, as well. These are typically 2-5% of the price of the home. Make sure your financing is set before you fall in love with your dream house.
Have an open yet critical mind.
Don’t rule out options just because of cosmetic details. These can be fixed! You can get rid of the wallpaper, paint the walls, tear out the carpet, etc. Many superficial flaws can be easily DIY’ed and updated to make your home really feel like your own. After all, it’s a win for you if you can add value to the house. However, with that being said, you should still view potential homes with a very critical eye. Try to catch yourself before falling too deeply in love with a certain property. Keep in mind these four things to look for when buying a home.
Do a thorough inspection.
If you find a place in your budget that you can envision calling your home, have it carefully and professionally inspected. Make sure you’re aware of what the inspection includes and what it doesn’t include. For example, you’ll need to know if the inspection checks for mold and pests. Make sure the inspector investigates the roof, as well. Additionally, you should double-check for yourself if any problems appear during the inspection. If the problems aren’t deal breakers, you can use the information you learn from inspections to negotiate a lower price.
Professional Home Movers
If you’re a first-time homeowner in the Greater Houston Area, call Ameritex Home Movers to help you settle in. We offer full-service moves complete with packing, safe transport, and unpacking, to save you the hassle of trying to manage it yourself. Whether you recently purchased a one-bedroom condo or a large estate, our team is here for you. Give us a call today at 713-484-6683, or fill out the form above for a completely complimentary moving quote.