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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 #48285017

4726 W Tavener Rd, Beasley, Texas - $220,000

Country Homes/Acreage, Free Standing
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Land Includes Barn And House.platting Cost For Any Purchase Less Than 10 Acres, Detention And Drainage Cost If Needed Is On Buyer. Electricity Available On Tavener.

Keller Williams Realty Metropolitan
Photo of Listing #13107417

4401 Effie St, Bellaire, Texas - $430,000

Single-Family
  • 3 Beds
  • Baths
  • 1,002 SQFT
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This Desirable Corner Lot In The Heart Of Bellaire Is Perfect For Building Your Dream Home! Zoned To Horn Elementary And Walking Distance To Evergreen And Evelyn's Park. Priced For Lot Value.

Keller Williams Realty
Photo of Listing #41628336

5422 Lake Hill Farm Way, Fulshear, Texas - $429,900

Single-Family
  • 3 Beds
  • Baths
  • 3,095 SQFT
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Gorgeous Single Family Home Nestled By Lush Landscaping And A Serene Environment. The Property Did Not Flood During Hurricane Harvey. This Stunning Home Provides A Cool And Regal Feel Throughout. Open Concept Design Features High Ceilings, Decorat...

Keller Williams Realty
Photo of Listing #36301621

2926 Helena St, Houston, Texas - $800,000

Multi-Family, Triplex
  • 6,000 SQFT
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Three Rental Units - Main House Has 3 Bedrooms And Three Baths - Over The Garage - Three Bedrooms And Two Baths And Is Two Story..smaller Apartment Behind Garage. All Units Have Their Own Access To The Street. High Ceilings, Hardwoods And Great W...

Keller Williams Realty
Photo of Listing #30703585

10 S Briar Hollow Ln Unit 14, Houston, Texas - $790,000

Townhouse/Condo, Townhouse
  • 3 Beds
  • Baths
  • 3,980 SQFT
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Never Flooded! Rebuilt From The Slab In 1993 Per Seller. Beautiful Marble In Entry And Downstairs. All New Appliances In '14. Rare Find Inside The Loop! Immaculate 3 Bedrm All En Suite In Prestigious Raintree Place Townhomes. Master And Master Bat...

Keller Williams Realty
Photo of Listing #62271058

7509 Awty School Ln, Houston, Texas - $889,999

Single-Family
  • 4 Beds
  • Baths
  • 3,853 SQFT
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Modern 3 Story Home With 4 Bedrooms And 4.5 Baths Located In Manned/gated Ravenna Subdivision. First Floor Easy Flow Between Family Room With Led Lighting, Dark Wood Flooring And Cozy Fireplace And Island Kitchen With Granite Counters And Double O...

Keller Williams Realty
Photo of Listing #28792834

13706 Mooring Pointe Dr, Pearland, Texas - $370,000

Single-Family
  • 5 Beds
  • 4 Baths
  • 3,726 SQFT
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This Spacious 5 Bedrooms And 4 Full Baths Home Is A Meticulously Maintained Gem In The Heart Of The Luxurious Master Planned Community, Shadow Creek Ranch. In Like-new Condition, With Recent Paint Touch-ups This Home Boast Upgrades Like A Large Fa...

Keller Williams Realty
Photo of Listing #78953331

2429 Wordsworth St, Houston, Texas - $899,000

Single-Family
  • 4 Beds
  • Baths
  • 2,487 SQFT
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Beautiful Character Filled Home On A Leafy Neighborhood Block And Located Just Minutes From Rice Village Shopping & Dining! Recent Upgrades Per Seller Include: Wiring, Heater, Pool Heater, Fresh Paint, Stainless Appliances, Renovated Kitchen To Th...

Keller Williams Realty
Photo of Listing #92569833

5730 Caspian Falls Ln, Fulshear, Texas - $589,000

Single-Family
  • 5 Beds
  • 6 Baths
  • 5,078 SQFT
  • 1 DOM
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Mediterranean Hm W/stucco,stone,corner Lot,2 Covered Patios W/outdoor Kitchen,3 1/2 Car Detached Garage W/porte- Cochere!8 Ft Double Drs!dramatic 2 Story Gone With The Wind Stairway Entry!tile & Wood Flrs!study!elegant Formal Dining!2 Story Grand ...

Keller Williams Realty
Photo of Listing #10770292

201 Stratford, Houston, Texas - $800,000

Single-Family
  • 3 Beds
  • 6 Baths
  • 6,678 SQFT
  • 1 DOM
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One Of The Most Notable Homes In Montrose. Stunning Exterior & Interior Detailing. Property Includes 3 Bedrooms In The Main House Along With Attached Three Bedroom Two Story Apartment Over The Garage With Street Front Entrance & And An Additional...

Keller Williams Realty
Photo of Listing #9142228

5907 Valkeith Dr, Houston, Texas - $315,000

Single-Family
  • 3 Beds
  • Baths
  • 2,241 SQFT
  • 1 DOM
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Home Has Never Flooded Pride Of Ownership Shines In This Well-maintained Home. Gorgeous Landscaping Throughout Property! Located In A Quiet Community Within Walking Distance To Stores And Restaurants.interior Features Include Large Living Area,woo...

Keller Williams Realty
Photo of Listing #61306087

11938 Silver Leaf Ct, Conroe, Texas - $450,000

Single-Family
  • 4 Beds
  • Baths
  • 2,731 SQFT
  • 1 DOM
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Beautiful 2 Story 4-bedroom, 4 Bath Country Style Home On 2 Acres Of Land Located In White Oaks Estates. Home Boasts High Ceilings And Dark Laminate Flooring Throughout. First Floor Master Bedroom Suite Has Bay Window, Granite Counters, Jacuzzi Tu...

Keller Williams Realty

Copyright © 2017, 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 December 12th, 2017 at 2:10am CST.