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Are You Ready For Home Ownership?

Owning a home may be your dream, but in order for the purchase to be the happy and satisfying experience it was meant to be, you need to ensure that you are financially and mentally prepared for the responsibilities that come with it.

Some people have a notion that home ownership is like renting, but with the power to have pets and paint the walls whatever color you like. However, while these privileges are available to homeowners in most municipalities, they come with the responsibilities of a mortgage, taxes and home maintenance. Preparing for home ownership requires you to take critical stock of your finances and your expectations.

Search now for homes in the area.

Questions for Prospective Homeowners

Are you ready to buy?

Owning your own home is about more than just being able to decorate any way you like; it's about being prepared to maintain your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It's about being willing to take the risks of home ownership with a realistic expectation of the rewards.

How much can you afford?

It can be discouraging to find that your salary won't stretch as far as the home you want to own. However, sacrificing a huge part of your income just to pay the mortgage can very quickly make home ownership a burden rather than a point of pride. It's better to buy a modest home now and look at purchasing your "dream home" in a few years.

What is your debt-to-income ratio?

This is something that lenders take very seriously. Your overall debt should not be more than 40% of your income, and your housing debt should not be more than 32%. What 32% of your income will buy depends on where you want to live. In rural or downtrodden areas for example, it can buy a very comfortable residence and ample acreage. In highly sought-after urban areas however, it may not even buy a 400 square foot bachelor suite.

What do you want?

Do you like the idea of cleaning your own gutters? Do you shudder at the thought of lawn care? Would you rather just pay a fee every month and have everything done for you? Would obeying rules about when you can have your garbage cans out bother you, or do you want to live in a neighborhood where everything is 'just so'? The answers to these questions can help you narrow down the search for the right type of property for you.

We Can Help

You need a good agent who will work hard for you. Our real estate team is dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership.

When you hire us to help you buy your first home, we want to know what you want and how much you can afford. Then we'll find a way to merge these two priorities and find a residence that you'll enjoy owning.

Keep your objectives in mind when visiting a home. Sometimes the idea of owning a home can overwhelm your practical sense, so keep your feelings in check. Keep a list handy of the features that you need and want in a home, and judge each home by the list instead of by details that could distract you from your goal. When you're alone with your agent, you can go over the pros and cons of each home. We can help you stay on track while still keeping our eyes out for a great property.

Engage the services of a good real estate lawyer. We can recommend several lawyers in the area who might be a good fit for you. Interview them to ensure that you get someone you can work with. The legalities of transferring land ownership can be dodgy, and a lawyer can be your best defense against future legal troubles. A good lawyer can charge several hundred to over a thousand dollars for their services, but the thousands of dollars saved in legal fees later on makes this a good expense.

Make the offer. This can be a maze of "buyer", "seller", "chattels", "deposit", and "completion". We'll be happy to prepare the paperwork and go through it with you before submitting it. Remember, the seller may reject or counter your offer, so even at this late date, avoid setting your heart on the home you hope to own. You'll probably have to write a deposit check to the seller's broker that proves the seriousness of your offer.

Get all necessary inspections done. A home inspector will check for signs of harmful materials like asbestos, lead paint and mold. They'll also check for evidence of pests, faulty wiring and leaks. This is a crucial part of the home purchase. Not getting an inspection done means that you could be stuck in a home with a bad case of black mold and no recourse other than to pay for its removal. Inspections will cost a few hundred dollars, but again, this is more than worth it in the end. There are several inspectors in the area that we'd be happy to recommend.

Do a final walkthrough before closing the deal. We'd be happy to do this with you to make sure that everything agreed upon is completed prior to the final signing.

From the first interview that determines your requirements to the moment that you receive the keys, we can help you with the complicated process of buying a home. Don't hesitate to contact us to find out more about how we can make the home buying process easier!

Contact us for more information about first time home purchasing.

Search Our Office Listings - KW Houston Metropolitan

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Photo of Listing #21590317

5202 Braesheather Dr, Houston, Texas - $450,000

Single-Family
  • 4 Beds
  • Baths
  • 4,328 SQFT
View details More Photos Save

Ideal Opportunity To Remodel This Stunning Ranch Home In Meyerland Or Build Your Dream Home On This Lush 13,000 Square Foot Lot. Ideal Location Close To Schools, Downtown, The Medical Center, And The Galleria.

Keller Williams Realty
Photo of Listing #53618888

123 Crows Nest Rd, Freeport, Texas - $240,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,378 SQFT
View details More Photos Save

Well Maintained 3 Bedroom 2 Full Bath Home In The Highly Sought After Hide-a-way On The Gulf Subdivision. Features Of The Home Include Updated Hardwood Floors, Windows, Pilings/house Re-leveling. Beautiful Canal Lot Has Boat Slip/lift, Storage She...

Keller Williams Realty
Photo of Listing #21809469

3331 Loop 201, Baytown, Texas - $249,000

Baytown Commercial 1.66 Acre Property At Highway 146 And 201 Loop. Excellent Location For Your New Business Venture. High Traffic Area With Close Proximity To Local Stores, Restaurants And 10 Minutes To I-10 And/or Hwy 225. All Utilities Are Avail...

Keller Williams Realty
Photo of Listing #72007464

4847 Knickerbocker St, Houston, Texas - $399,000

Single-Family
  • 4 Beds
  • 2 Baths
  • 2,309 SQFT
View details More Photos Save

Just In Time For Spring And Summer Entertaining! This Never Flooded Willow Meadows Home With No Back Neighbors And Fantastic Curb Appeal Has Been Meticulously Maintained And Is Waiting For You To Enjoy It As Much As The Current Homeowners Have! Fr...

Keller Williams Realty
Photo of Listing #10569617

211 W Tupelo Green Cir, Spring, Texas - $459,000

Single-Family
  • 4 Beds
  • Baths
  • 3,484 SQFT
View details More Photos Save

Stunning Trendmaker Home In A Corner Lot Right In Front Of Tupelo Park! This Home Features An Open And Bright Floor Plan With High Ceilings, 3 Car Tandem Garage, A Wonderful Gameroom For Entertainment, A Covered Patio And Much More. No Flood Durin...

Keller Williams Realty
Photo of Listing #37628134

1946 Concho River Ct, Sugar Land, Texas - $299,000

Single-Family
  • 4 Beds
  • Baths
  • 2,656 SQFT
View details More Photos Save

Welcome To Your Nestle!!!! Beautiful Home On Quiet Cul-de-sac Street. Huge Lushly Landscaped Lot, Gorgeous Custom Ceramic Tiles Thru-out Downstairs, Gourmet Kitchen With Granite Counters, Updated Appliances & Lovely Andersen French Door. Large Den...

Keller Williams Realty
Photo of Listing #97555160

3902 Breaux Bridge Ln, Sugar Land, Texas - $459,000

Single-Family
  • 4 Beds
  • Baths
  • 3,564 SQFT
View details More Photos Save

Riverstone Serene Living Sugar Land Side / Off Of University And Walking Distance To Clements High School. 4 Bedrooms Plus Study Den Could Be Used As A Second Bedroom Downstairs. 2 Bath Down And 2 Up With Powder Room On The Main Level. You Have To...

Keller Williams Realty
Photo of Listing #55468726

1207 Archer St, Houston, Texas - $299,500

Single-Family
  • 3 Beds
  • Baths
  • 1,150 SQFT
View details More Photos Save

3 Bedroom, 1.5 Bathroom Bungalow On 5,500 Square Foot Lot (per Seller) In The Convenient Brook Smith Location. Great Lot For A Builder. Lot Is Directly Across From A Greenbelt, Is Very Private And There Is No Thru Traffic. The Master Bedroom Featu...

Keller Williams Realty
Photo of Listing #37376312

1540 Harold St, Houston, Texas - $1,775,000

Single-Family
  • 4 Beds
  • Baths
  • 4,451 SQFT
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Croix Custom Homes Brings You The "fabulous French Contemporary" In The Heart Of Mandell Place. Designed For Both Entertaining And Casual Family Living, The First Floor Boasts Impressive 11 Ft. Ceilings, Plus A Two Story Library With Over 21 Ft. ...

Keller Williams Realty
Photo of Listing #79213571

807 Hal Mclain Rd, Manvel, Texas - $349,900

Single-Family
  • 4 Beds
  • 2 Baths
  • 2,043 SQFT
View details More Photos Save

Wolfe Airpark 0.684 Acre Lot By Tx-6 & Tx-288 In Manvel Has 2043 Sqft 4/2 Home & Hangar. Corner Lot Has 175 Ft Hal Mclain Rd Frontage & 150 Ft Frey Rd Frontage (gravel Road To Wolfe Airpark Grass Runway). Tilson Home Has Open Floor Plan, High Ceil...

Keller Williams Realty
Photo of Listing #10423112

506 Woodbend Ln, Houston, Texas - $465,000

This Remarkable 11,559 Square Foot Lot Sits On A Quiet Cul-de-sac In The Peaceful Woodbend In Memorial Community And Is Zoned To The Exemplary Spring Branch Isd. The More Than 1/2 Acre Lot Is The Perfect Place To Build The Home Of Your Dreams! Woo...

Keller Williams Realty

Copyright © 2019, Houston Realtors Information Service, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified.

The IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed accurate by the MLS and should be independently verified.

Listing information last updated on June 16th, 2019 at 10:40pm CDT.