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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 #66575889

5320 Sugar Hill Dr, Houston, Texas - $2,179,000

Single-Family
  • 5 Beds
  • Baths
  • 5,195 SQFT
View details More Photos Save

Prestigious Tanglewood Home! Impressive Front Elevation Creates A Grand Presence! Flickering Gas Lanterns & Double Front Doors Open To The Entry & Inviting Formal Rooms! 10' Ceilings, Beautiful Oak Floors, Plantations Shutters, Extensive Millwork!...

Keller Williams Realty
Photo of Listing #87454497

2008 Saint Edmunds Xing, Dickinson, Texas - $315,910

Single-Family
  • 4 Beds
  • Baths
  • 3,092 SQFT
View details More Photos Save

Most Immaculate And Lighted 4 Bedroom/ 2.5 Bath Home In The Most Prestigious St. Edmunds Green Subdivision. Classic Wood And Stylish Travertine Flooring Throughout The Home. High Ceilings, Arched Walkways, Crown Molding And Custom Built Ins Are Ch...

Keller Williams Realty
Photo of Listing #60543962

1443 Hewitt Dr, Houston, Texas - $1,132,000

Single-Family
  • 4 Beds
  • Baths
  • 3,800 SQFT
  • 1 DOM
View details More Photos Save

Another Fabulous Home In Oak Forest To Be Built By Rainer Custom Homes. Pictures Are Of A Prior Build By The Same Builder.

Keller Williams Realty
Photo of Listing #26298220

1447 Hewitt Dr, Houston, Texas - $1,190,000

Single-Family
  • 4 Beds
  • Baths
  • 4,075 SQFT
  • 1 DOM
View details More Photos Save

Another Fabulous Home In Oak Forest To Be Built By Rainer Custom Homes. Pictures Are Of A Prior Build By The Same Builder.

Keller Williams Realty
Photo of Listing #42216700

6721 Raymond Stotzer Pkwy, College Station, Texas - $225,000

Single-Family
  • 4 Beds
  • 3 Baths
  • 2,152 SQFT
  • 1 DOM
View details More Photos Save

Keller Williams Realty
Photo of Listing #78185974

651 Bering Dr Unit 705, Houston, Texas - $260,000

Mid/Hi-Rise Condo
  • 2 Beds
  • 2 Baths
  • 1,528 SQFT
  • 2 DOM
View details More Photos Save

Charming 2 Bedroom 2 Bath Condo Renovated In 2016. Beautiful Hardwood Floors Throughout Living Areas. Private Office Off Entry. Open Living And Dining Rooms Overlooking Lush Greenery And Views Of Tanglewood And Downtown. Kitchen With Granite Co...

Keller Williams Realty
Photo of Listing #33465599

5515 Darnell St, Houston, Texas - $295,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,646 SQFT
  • 2 DOM
View details More Photos Save

This Warm And Welcoming Home Is Move In Ready. Great Curb Appeal On A Quiet Cul-de-sac Street. Wonderful Opportunity To Purchase A Well Maintained And Recently Updated Ranch Home. Large Master Bedroom With Ensuite Bathroom. All Bedrooms Have W...

Keller Williams Realty
Photo of Listing #17879612

2131 Thicket Ridge Ln, Houston, Texas - $899,000

Single-Family
  • 4 Beds
  • Baths
  • 3,949 SQFT
  • 2 DOM
View details More Photos Save

Spectacular Mediterranean Stucco Custom Built Two Story Kickerillo Home Located In The Much Sought After Thicket Ridge Lane Inside The Magnificent Lakes Of Parkway Manned Gated Community In The Energy Corridor & Close To The Village School & Zones...

Keller Williams Realty
Photo of Listing #11955111

11607 Plumbrook Dr, Houston, Texas - $175,500

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,674 SQFT
  • 2 DOM
View details More Photos Save

No Flooding, Harvey Did Not Do Anything To This Home! Move In Ready. Newly Painted Interior. Kitchen Features New Varnished Wood Cabinets. All Spacious Bedrooms. Den With High Ceiling. Cabinets Galore At Kitchen. Plenty Of Natural Light. Big Back...

Keller Williams Realty
Photo of Listing #51298666

2339 Brookmere Dr, Houston, Texas - $400,000

Single-Family
  • 4 Beds
  • Baths
  • 2,245 SQFT
  • 3 DOM
View details More Photos Save

Priced To Sell Rare 4 Bedroom Super Value Home In Popular Close In Lazybrook. 2200+ Sq With Master Down At Only $400,000. 2 Bedrooms Down Including The Master. Huge Den With Large Brick Fireplace And Wrap-around Mantle. Ac And Heat Replaced Approx...

Keller Williams Realty
Photo of Listing #26595611

519 Brompton Ln, Highlands, Texas - $205,000

Single-Family
  • 3 Beds
  • Baths
  • 2,328 SQFT
  • 3 DOM
View details More Photos Save

519 Brompton Sits On A Large Corner Lot In Section 2 Of Highlands Woods Neighborhood. This Beautiful 2-story Home Features 3 Bedrooms, 2.5 Bathrooms, And An Oversized 30’x24’ Detached 2-car Garage. Interior Features Include A Large Den Area Comple...

Keller Williams Realty
Photo of Listing #83086323

6528 Sewanee Ave, West University Place, Texas - $2,595,000

Single-Family
  • 4 Beds
  • 5 Baths
  • 5,297 SQFT
  • 3 DOM
View details More Photos Save

Dreamy And Elegant New Build In West University Place. 6528 Sewanee Pairs A Crisp Modern Aesthetic With A Welcoming Luxurious Vibe. You Are Going To Want To Move In Immediately. Iron/glass Windows And Doors. Flowing, Open Floorplan. Optional First...

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 April 22nd, 2019 at 3:55pm CDT.