Houston First Time Home Buyer

If one of your resolutions for 2022 is to buy a home, it may be more attainable than you think!

Here are the first two steps you can take now that will prepare you for homeownership this year:

𝚂𝚝𝚎𝚙 𝟷: 𝙵𝚒𝚗𝚊𝚗𝚌𝚎𝚜 & 𝙿𝚛𝚎-𝚊𝚙𝚙𝚛𝚘𝚟𝚊𝚕
Save for a downpayment, and get your finances (and credit score) in order. The first step of the home buying process is 𝘢𝘭𝘸𝘢𝘺𝘴 to review your finances and obtain a financial pre-approval. It's important to review your budget and think about new expenses such as utilities, maintenance costs, and HOA or Condo fees.

𝚂𝚝𝚎𝚙 𝟸: 𝙵𝚒𝚗𝚍 𝚊𝚗 𝚊𝚐𝚎𝚗𝚝 𝚢𝚘𝚞 𝚝𝚛𝚞𝚜𝚝
Interview agents to find one who understands the market, is available to work with your schedule, is responsive, and is someone who you feel can guide you through the biggest investment you'll ever make! This is even more critical now than ever before in our current high-paced seller's market.

If you've been thinking about buying a home, send me a message or give me a call — I’d love to help you prepare, find, and buy a new home in 2022! It's never too early to start discussing next steps!

All too frequently buyers save up for a down payment to purchase a home and then are surprised there are a number of other costs involved. I'm here to help you understand what else you should be budgeting for when saving for a new home.

These other costs and fees may include:

• The down payment (between 3-20%)
• Home inspections (anywhere from $300-1,000)
• Appraisal ($400-600)
• Mortgage/application fees
• Tax Escrows (typically a full year of taxes)
• Transfer Tax (varies per state, but usually between 1-2%)
• Title Insurance (varies per state, but usually 1-2%)
• Homeowners insurance
• HOA or condo fees if applicable

Keep in mind that these fees vary depending on location and other factors, and may also depend on what lender you use. If you are interested in getting a more exact idea of what buying a home may cost you, let's chat! I'd love to help set the right expectations so there are no surprises at the end.

Have questions about something you see? Don't be afraid to ask!

A very common question that I get is, "𝘞𝘩𝘦𝘯 𝘴𝘩𝘰𝘶𝘭𝘥 𝘐 𝘴𝘵𝘢𝘳𝘵 𝘮𝘺 𝘩𝘰𝘮𝘦 𝘴𝘦𝘢𝘳𝘤𝘩?"

The first thing that I will ask you is: are you thinking about buying NEW or RESALE?

This is because the timeline differs quite drastically between the two.

✔️ New construction is typically 8-12 months out before you actually settle on your home. Taking into consideration build time, availability, delays in construction, supply chain and material delays, not to mention the time it takes for you to find the right home, land or neighborhood, and the right builder.

✔️ For resale you most likely want to start looking 3-6 months out, considering our current inventory shortage. You should account for the time it takes to find a home, as well as the time it takes to close (which can be anywhere from 30-60 days once you are under contract).

If you're thinking about buying a home, even if you're just in the "scrolling through Zillow in bed" phase, send me a message. I would love to send you my 𝗳𝗿𝗲𝗲 𝗵𝗼𝗺𝗲𝗯𝘂𝘆𝗲𝗿 𝗴𝘂𝗶𝗱𝗲 and answer any questions you may have about next steps!

Ready to buy your first home, but not sure where to start?

That's what we are here for!

If you're not quite ready to talk to a lender and get a pre-approval yet, there are still a few things you can do to make sure you're ready to hit the ground running once you decide to start your home search.

• Work toward paying down debt (especially high-interest debt such as credit cards)
• Save a little from every paycheck to add to your downpayment
• Check your credit score and credit report
• Budget for expenses beyond your mortgage, and figure out how much you can afford monthly
• Stay in your current job
• Start gathering paperwork you will need to get pre-approved (paystubs or W2, bank statements, etc.)

If you're thinking of buying your first home, shoot us a message! We would be happy to share our 𝐇𝐨𝐦𝐞𝐛𝐮𝐲𝐞𝐫 𝐆𝐮𝐢𝐝𝐞 to help you navigate the start of your home search!