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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 #67177724

3851 Merrick St, Houston, Texas - $449,600

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,561 SQFT
View details More Photos Save

Large Corner Location With Mature Trees In The Heart Of Braeswood, Located Within Walking Distance To The Weekley Family Ymca And Karl Young Park, As Well As The Restaurants And Shops On The Bellaire Blvd Corridor. Convenient To Downtown, Medical ...

Keller Williams Realty
Photo of Listing #33179339

4617 Verone St, Bellaire, Texas - $560,000

Single-Family
  • 2 Beds
  • 2 Baths
  • 2,789 SQFT
View details More Photos Save

Large Lot On One Of The Most Desirable Streets Inside The 610 Loop. Build Your Dream House Next To Many Other Beautiful New Constructions On This Street. Zoned To Exemplary Schools, Walking Distance To Horn Elementary, Natures Discovery, Evergreen...

Keller Williams Realty
Photo of Listing #41591055

5327 Jason St, Houston, Texas - $415,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,787 SQFT
View details More Photos Save

Beautiful Traditional Brick Home Rests On An Oversized Fabulous 10,000+ Sq Ft Lot. Zoned To The World Famous Lovett Elementary, Meyerland Middle & Bellaire High(good Schools). Spacious Living Room & Den - Great For Entertaining, Quality Floor-pla...

Keller Williams Realty
Photo of Listing #3050044

5115 Braeburn, Bellaire, Texas - $3,498,000

Single-Family
  • 7 Beds
  • 8 Baths
  • 8,871 SQFT
View details More Photos Save

Discover Magnificent Style And Opulent Features In This Palatial And Pristine Contemporary Villa. Located On A Most Prestigious Block Of Bellaire And Framed By Arched Oaks. Convenient To All Major Houston Hubs Yet Secluded As A Retreat From Urban ...

Keller Williams Realty
Photo of Listing #85929582

1430 Wakefield Dr, Houston, Texas - $1,049,099

Single-Family
  • 4 Beds
  • Baths
  • 4,466 SQFT
View details More Photos Save

This Gorgeous Craftsman Style 4 Bedroom Home Sits On One Of Oak Forest's Best Streets And Best Blocks. The Home Features A Grand Foyer With Soaring 20 Foot Ceiling, Library At Landing Of 2nd Floor, Large 2nd Floor Media Room, 2nd Floor Game Room, ...

Keller Williams Realty
Photo of Listing #90905963

14238 Cindywood Dr, Houston, Texas - $750,000

Single-Family
  • 4 Beds
  • Baths
  • 2,952 SQFT
View details More Photos Save

Did Not Flood In Harvey! Beautiful Updated 4 Bed, 2 Car Garage With Lots Of Off Street Parking & Large Back Yard With Covered Concrete Patio. This 1965 Home Updated Home Has New Windows & Roof 2014, New Utility Room, Recently Repainted Throughout,...

Keller Williams Realty
Photo of Listing #94398720

13166 Kimberley Ln, Houston, Texas - $915,000

Single-Family
  • 4 Beds
  • 3 Baths
  • 3,068 SQFT
View details More Photos Save

Wonderful 4 Bedroom 2.5 Bath Home With A Great Opportunity To Live In Memorial! Your Children Will Attend The Highly Acclaimed Spring Branch Schools. This Home Is Near Great Restaurants And Shopping In City Centre. Did Not Flood!

Keller Williams Realty
Photo of Listing #15375161

1708 Washington Ave Unit E, Houston, Texas - $339,900

Townhouse/Condo, Condominium
  • 1 Bed
  • Bath
  • 1,700 SQFT
  • 1 DOM
View details More Photos Save

Industrial Style Loft With Incredible Downtown Views, Abundant Natural Light, And Plantation Shutters Throughout. The Dream Kitchen Includes Granite Countertops, Stainless Steel Appliances, And Plenty Of Counter Space.the Open Concept Is Perfect F...

Keller Williams Realty
Photo of Listing #5361377

10831 Avenel Iron Dr, Houston, Texas - $190,000

Townhouse/Condo, Townhouse
  • 3 Beds
  • 2 Baths
  • 1,452 SQFT
  • 1 DOM
View details More Photos Save

Wonderfully Renovated 3 Bedroom, 2 Bath Townhome In Nice Gated Community. Backyard Oasis And A View Of The Lake From Your Front Door. New Tile, Fresh Paint, New Appliances And So Much More!

Keller Williams Realty
Photo of Listing #77055788

27309 Dara Springs Ln, Spring, Texas - $349,900

Single-Family
  • 4 Beds
  • Baths
  • 3,198 SQFT
  • 1 DOM
View details More Photos Save

Gorgeous Updated 4 Bedroom, 2.5 Bath + Study, 3-car Tandem Garage Home Located In Spring Trails Master-planned Community, With Great Access To Tx 99 Grand Parkway And Hardy Toll Rd. 2018 Updates Include Countertops In Kitchen And Baths (quartz), K...

Keller Williams Realty
Photo of Listing #73984958

4138 Villanova St, Houston, Texas - $2,200,000

Single-Family
  • 4 Beds
  • Baths
  • 4,455 SQFT
  • 1 DOM
View details More Photos Save

Located Only 2 Blocks South Of Colonial Park, This New Construction By Yago Custom Builders Is Their Best Work To Date. The Master Suite Includes 2 Closets, A Private Flex Room, 4 Function Shower, Soaking Tub And 2 Water Closets. All Secondary Bed...

Keller Williams Realty
Photo of Listing #43494049

893 Davis Rd, League City, Texas - $263,999

Townhouse/Condo, Townhouse
  • 3 Beds
  • Baths
  • 1,665 SQFT
  • 1 DOM
View details More Photos Save

Back On Market!!! Waterfront Living In Nantucket Landing At Its Finest! With Your Second Floor Balcony Overlooking The Water, You Will Experience The Breeze Right Off Of Your Living Area! This Beautiful Townhome Has Been Completely Updated Through...

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 February 16th, 2019 at 6:25pm CST.