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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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Keller Williams Realty Metropolitan
Photo of Listing #23154046

517 Northwood St, Houston, Texas - $399,900

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,732 SQFT
  • 1 DOM
View details More Photos Save

Your Chance To Own A Wonderfully Updated Bungalow In The Heights Area - It's Ready For You To Call Home! The Open Floorpan Is Flooded With Gorgeous Natural Light And Features Original Hardwood Floors. Huge Master Suite With 2 Closets (including El...

Keller Williams Realty Metropolitan
Photo of Listing #62209072

3126 Clearview Cir, Houston, Texas - $264,900

Single-Family
  • 2 Beds
  • Baths
  • 1,822 SQFT
  • 1 DOM
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Beautiful Home In A Private Gated Community Close To The Medical Center And Downtown. This Recent Construction Home Has Many Upgrades That Include, New Interior And Exterior Paint, Re-finished Wood Floors, Expansive Granite Counters With Breakfast...

Keller Williams Realty Metropolitan
Photo of Listing #90686419

5635 Sylmar Rd, Houston, Texas - $469,000

Single-Family
  • 4 Beds
  • 3 Baths
  • 2,685 SQFT
  • 1 DOM
View details More Photos Save

2 Homes One Property! Masterfully Renovated 3 Bedrm 2 Bath With Guest Apartment With Its Own Kitchen & Bathroom- Can Be Used As A Gameroom Or Office. This One Of Kind Home Sits On A Beautiful Interior Corner Lot. Great Floor Plan With Both Formals...

Keller Williams Realty Metropolitan
Photo of Listing #59667183

11706 Highgrove Dr, Houston, Texas - $394,900

Single-Family
  • 3 Beds
  • Baths
  • 2,710 SQFT
  • 1 DOM
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Striking Energy Corridor Home Has Updated Kitchen & Breakfast Bar, Large Family Room/den With Focus On Fireplace, A Soaring Ceiling, & Beautiful Landscaping/large Fenced Yard. Windows & Sliding Door Look To Backyard & Large Pool W/spa. Master Suit...

Keller Williams Realty Metropolitan
Photo of Listing #34173820

14514 Pelican Marsh Dr, Cypress, Texas - $209,900

Single-Family
  • 4 Beds
  • 2 Baths
  • 2,319 SQFT
  • 1 DOM
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Must-see 4 Br, 2 Bath Home Located In The Desirable Cypress Point Community & Zoned To Sought After Cy-fair Schools! This Well-maintained Home Features An Island Kitchen With Granite Countertops, Glass And Ceramic Tile Backsplash, Stainless Steel ...

Keller Williams Realty Metropolitan
Photo of Listing #14189554

7122 Harmony Cv, Houston, Texas - $215,000

Single-Family
  • 2 Beds
  • Baths
  • 1,480 SQFT
  • 1 DOM
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Easy Drive To Downtown, Galleria, Med Ctr. Immaculate Mediterranean Stucco/tile Roof. 2 Bed/2 1/2 Bath W/ Study. Oak Hardwoods, Laminate/tile. Fridge Stays-42'' Cabinets, Over/under Cab Lighting, Granite Counter W/breakfast Bar. Beds Are Up W/stud...

Keller Williams Realty Metropolitan
Photo of Listing #90501974

3310 Orchard Mill Ln, Pearland, Texas - $390,000

Single-Family
  • 4 Beds
  • Baths
  • 3,769 SQFT
  • 1 DOM
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Elegant 4 Bedroom 3.5 Bath Coventry Style Home With Grand 2-story Entrance, 11' High Ceilings Throughout 1st Floor. Open Island Kitchen W/extended Granite Counter Top Bar. Huge Media Room And Oversized Game Room With Sitting Area. Formal Dining An...

Keller Williams Realty Metropolitan
Photo of Listing #4571894

715 E 10th St, Houston, Texas - $580,000

Single-Family
  • 2 Beds
  • 2 Baths
  • 1,202 SQFT
  • 1 DOM
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Adorable Heights 2 Bdrm 2 Bath Bungalow That Includes An Open Floor Plan & The Following Interior Updates: A Second Bath Addition, Both Kitchen & Original Bath,laundry Room,electrical & Plumbing Replaced, Duct Work Replaced('10) Ac Replaced('16).e...

Keller Williams Realty Metropolitan
Photo of Listing #47864098

5231 Carew St, Houston, Texas - $349,900

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,660 SQFT
  • 1 DOM
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Classic Mid Century Modern Architecture In Meyerland. Live In Now & Renovate Later This Three Bedroom, Two Bath Home With An Open Living/dining Floor Plan With Den. However, If You Are Interested In Building A New Home...the Lot Is 8580 Sq. Ft. Zo...

Keller Williams Realty Metropolitan
Photo of Listing #18049240

13030 Shallow Falls Ln, Pearland, Texas - $229,999

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,890 SQFT
  • 1 DOM
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Come See This Beautiful & Well Maintained Home In The Sought After Shadow Creek Ranch Subdivision In Pearland, Minutes Away From Hwy 288 And Sam Houston Tollway! This Home Features An Open Floor Plan, Granite Counters, & Tile Throughout. Beautiful...

Keller Williams Realty Metropolitan
Photo of Listing #80704609

311 W Pierce St, Houston, Texas - $800,000

Single-Family
  • 3 Beds
  • Baths
  • 3,466 SQFT
  • 1 DOM
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Modern 3 Story, 3 Bdrm, 3.5 Bath Home W/high Ceilings & Lots Of Windows. First Floor Living Area. A/c Can Control Humidity Along With The Temperature. All Led Overhead Lighting. Pen Layout Kitchen W/island. Island Has Room For Four. Master Bedroom...

Keller Williams Realty Metropolitan

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 August 20th, 2017 at 5:55pm CDT.