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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 #39464488

11351 Lovebird Ln, Houston, Texas - $170,000

Single-Family
  • 3 Beds
  • Baths
  • 2,153 SQFT
View details More Photos Save

Adorable 3 Bedroom 2 Bath Home In Lincoln Green East. Homeowner Took Great Care Of This Beautiful Home. Shining Laminate Flooring Throughout. Large Den And Dining Area, Perfect For Entertaining Family And Friends. Nice Kitchen With Newer Applia...

Keller Williams Realty
Photo of Listing #72753543

4647 Richmond Ave, Houston, Texas - $679,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 2,357 SQFT
  • 1 DOM
View details More Photos Save

Are You Looking For Something Move In Ready That You Could Possibly Build On In The Future? This Home Was Completely Redone In 2009. The Back Portion Of The Home Was Added Onto For Extra Square Footage. The Electrical & Plumbing Were All Replaced ...

Keller Williams Realty
Photo of Listing #12816833

5838 W Airport Blvd, Houston, Texas - $179,900

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,718 SQFT
  • 1 DOM
View details More Photos Save

Amazing Opportunity Westbury Move In Ready Home - Fantastic Value For The Price! Great Open Floor Plan, 3 Bedroom 2 Bath Home. New Paint New Carpet. 2 Car Garage With Wide Curved Driveway For Extra Parking. Huge Wooded Back Yard. This Home Si...

Keller Williams Realty
Photo of Listing #94212720

110 W Gray St, Houston, Texas - $552,500

This Lot Is Being Sold In Conjunction With 114 W Gray For A Total Of 9250 Sq Ft. It Fronts To W Gray. No Showing Appointment Needed.

Keller Williams Realty
Photo of Listing #96845918

114 W Gray St, Houston, Texas - $650,000

This Lot Is Being Sold In Conjunction With 110 Gray For A Total Of 9250 Sq Ft. It Fronts To W Gray. No Showing Appointment Needed.

Keller Williams Realty
Photo of Listing #48579427

470 N Post Oak Ln Unit 470, Houston, Texas - $220,000

Townhouse/Condo, Condominium
  • 2 Beds
  • Baths
  • 1,680 SQFT
  • 1 DOM
View details More Photos Save

Two Bedroom Town Home Of 1,680 Sqft Located In Close In Memorial Priced To Sell! The First Floor Has A Large Living & Dining Area To Entertain Guests Along With A Spacious Kitchen And Breakfast Area That Can Act As A Separate Den Or Family Room. S...

Keller Williams Realty
Photo of Listing #58614662

2212 Portsmouth St Unit B, Houston, Texas - $499,000

Townhouse/Condo, Townhouse
  • 3 Beds
  • Baths
  • 2,256 SQFT
  • 1 DOM
View details More Photos Save

Showings Begin On Thursday, 8.16.2018. Stunning Townhome Located In Desirable Upper Kirby Area. Home Is Filled With Natural Light; Beautiful Hardwood Floors; High Ceilings; The Main Living Area Is On The 2nd Floor With A Fantastic Open Floorplan ...

Keller Williams Realty
Photo of Listing #36520674

4019 Clayton Bend Ct, Houston, Texas - $199,900

Single-Family
  • 4 Beds
  • Baths
  • 2,860 SQFT
  • 1 DOM
View details More Photos Save

Rare Find Near Hwy 6! Immaculate 4 Bedrooms With A Study.this Quaint Area Provides All The Benefits Of Living In A Big City With The Feel Of A Close-knit Community. Sparkling Interior, Newly Refreshed, And Lightly Lived-in. What Really Makes This ...

Keller Williams Realty
Photo of Listing #81055086

2720 Briarhurst Dr Unit 9, Houston, Texas - $150,000

Townhouse/Condo, Condominium
  • 2 Beds
  • Baths
  • 1,012 SQFT
  • 1 DOM
View details More Photos Save

No Flood Or Water Damage From Harvey! Beautifully Updated 2 Bedroom, 2.5 Bath Condo With Shared Courtyard Centrally Located In The Galleria Area. Luxury Vinyl Plank, Attractive Tile And Laminate Flooring Throughout. Recent Upgrades Include New Toi...

Keller Williams Realty
Photo of Listing #51781088

1039 Lamonte Ln, Houston, Texas - $425,000

Single-Family
  • 2 Beds
  • 2 Baths
  • 1,436 SQFT
  • 2 DOM
View details More Photos Save

Updated Home In Section 5 Of Garden Oaks. Owners Have Updated/remodeled Nearly Everything On This Property. Please Ask Agent For List. The Home Sits On A Gorgeous Interior Lot On A Quiet Street. Large Living Area With Tons Of Custom Built-ins....

Keller Williams Realty
Photo of Listing #25900172

15414 Saint Cloud, Houston, Texas - $229,000

Single-Family
  • 4 Beds
  • Baths
  • 2,211 SQFT
  • 2 DOM
View details More Photos Save

Very Nicely Kept! Fresh And Ready For Move In: Oakbrook West In Clear Lake City. Home To Nasa And The Space Center, Ellington Air Force Base (think... Air Shows!), Armand Bayou Nature Center & Parks, Water Recreation, And Splash Pads. Great School...

Keller Williams Realty
Photo of Listing #46230707

14442 Moorfield Dr, Houston, Texas - $155,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,399 SQFT
  • 2 DOM
View details More Photos Save

Keller Williams Realty

Copyright © 2018, 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 14th, 2018 at 12:58pm CDT.