If you have decided to buy a home in Texas instead of renting or building, your next step should be finding the right home. Buying a home, especially as a first-time homebuyer, can be daunting and confusing. You may not know what to look for or what really makes a house a great choice.
Buying a home requires potential buyers to be logical and have a list of things that makes a house the right one—such as price, location, and size; this will make your experience easy and stress-free. So, let’s talk about what you should be looking for when shopping for a new home in more detail.
1. Always Consider the Price
Unless you’re a multi-millionaire with a blank check, you should always consider the purchase price of a home. After all, there is no point in wasting your time on a house you can’t afford.
Find out how much mortgage you can afford even before you start looking for a new home in Texas. You can quickly get an estimate of how much mortgage you can afford using the Zillow Home Affordability Calculator or speak to a local lender for advice.
You should also consider the cost of maintenance, taxes, HOAs, and homeowner insurance that may come with a home.
2. Focus on the Location
The location of your potential home plays a huge role not only in determining the price you pay for the house but the comfort of you and your family. While you can remodel your home to look superb, you can’t change the location.
Ask yourself the following questions when using location as a factor in your home buying journey:
- Is the home near commuter routes, or is it an acceptable distance from your place of work?
- Is there easy access to stores and other places of business you frequent?
- Is it in an area designated as a flood zone, or has it been affected during past storms?
- What are the schools like in the neighborhood?
- What is the crime rate in and around the neighborhood?
A simple way to find more information about your potential home location is to ask the residents that currently reside in the neighborhood or ask the realtor you work with if they have any data about the area.
3. Evaluate the Property Condition
Sometimes buying a home may turn out to be a nightmare if you fail to take into consideration the condition of a property. While you can overlook minor issues like an ugly paint job or cracked door, you should look out for significant repair issues like aging shingles, exterior cracks, signs of water damage, or the presence of mold.
Hire the services of a certified home inspector to help you review the current state of the property and highlight the problems that may come with it. If you’re a first-time homebuyer who has never undertaken a major renovation, it’s recommended that you steer clear of homes in need of serious repairs.
4. Pick Out the Right Home Size
When looking for a new home in Texas, especially as a young first-time homebuyer, you should always think long-term. Search for a home that fits into your and your family’s future housing needs.
If you plan to increase your family size soon, getting a home that can accommodate your plans is a great idea, no matter if it’s an extra space for your kids to play, an additional bedroom space for visiting friends, or an outdoor space for family/pet fun activities.
5. Consider the Home Resale Value
You may be hoping to live in your home for an extended period, but certain situations may result in you selling your home. When buying a home in Texas, look at the potential resale value of the house.
Buying a home beyond the average sale price of homes in your potential neighborhood may affect your ability to resell your home in the future. For example, it will be quite difficult for you to sell your single-family house in an area with a sea of townhomes. This is because banks and lenders may find it challenging to appraise the worth of your home correctly.
Also, buying a home close to a noisy railway or power station, with lot issues, or in a neighborhood with a high crime rate may affect the resale value of the home.
Finding the right home is the goal of every home buyer, but the truth is no home is perfect. When planning to buy a house in Texas, create a list of your wants and needs. With the right budget and planning, you’ll find a home that fits into your essential must-haves.
Most importantly, if you want to improve your chances of finding the right home for you, work with a local lender and real estate agent to aid with your home buying journey.