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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 #29434859

2710 Anita St, Houston, Texas - $229,000

Townhouse/Condo, Townhouse
  • 2 Beds
  • 2 Baths
  • 1,560 SQFT
View details More Photos Save

Brand New Construction! Completed & Ready For Move-in - Gated Community Of 3 Homes. Luxurious Finishes Throughout. Open Floor Plan Living / Dining W/ Engineered Flooring Is On The 2nd Floor Along With The Master Suite. Kitchen Features Granite Cou...

Keller Williams Realty
Photo of Listing #90201201

1124 E 27th St, Houston, Texas - $290,000

Single-Family
  • 2 Beds
  • 1 Baths
  • 1,008 SQFT
View details More Photos Save

Great Fixer Upper Or Investment Property. Incredible Opportunity To Live In The Sunset Heights Subdivision. Minutes To Downtown And Walking Distance To The Planned Reformation Of The Farmer’s Market.

Keller Williams Realty
Photo of Listing #42183478

1114 Sherwood Trl, Houston, Texas - $365,000

Single-Family
  • 3 Beds
  • Baths
  • 2,476 SQFT
View details More Photos Save

Beautiful Patio Home In Gated Subdivision, Home Backs Up To The Lake With Direct Access To The Walking Trail. 3/3.5/2 With Second Story Kitchen And Living Room Overlooking The Lake. Home Has Hardwood Floors, Granite Throughout, Custom Plantation ...

Keller Williams Realty
Photo of Listing #27422944

6027 Fern Hollow Ct, Katy, Texas - $155,000

Single-Family
  • 4 Beds
  • Baths
  • 1,974 SQFT
View details More Photos Save

Fixer Upper In A Great Neighborhood. In The Heart Of Katy

Keller Williams Realty
Photo of Listing #76123489

6239 Hurst St, Houston, Texas - $510,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,951 SQFT
View details More Photos Save

Custom Built Brick Home Boasts An Energy Efficiency Rating And Tax Exemption Second To None! Completely Remodeled In 2002, This Extraordinary Home Is Loaded W/ Energy Features & Upgrades Including Recent Roof With Sun Reflective Shingles, New Elec...

Keller Williams Realty
Photo of Listing #45736231

6424 Westchester Ave, West University Place, Texas - $2,075,000

Single-Family
  • 5 Beds
  • Baths
  • 5,015 SQFT
  • 1 DOM
View details More Photos Save

Elegant 2014 Custom Home Built By Frankel Building Group And A Leed - Green Building Certified Home. The Perfect Example Of Classic Architecture Merged With Contemporary Influences. Viking Appliance Package, Quartz And Marble Stone Surfaces, Uniqu...

Keller Williams Realty
Photo of Listing #24020302

6365 Del Monte Dr Unit 69, Houston, Texas - $179,000

Townhouse/Condo, Townhouse
  • 2 Beds
  • Baths
  • 1,120 SQFT
  • 2 DOM
View details More Photos Save

Welcome To Adorable Updated, Well Maintained Home In Quite Neighborhood, With Wood Flooring Throughout, Granite Counter Tops Both Kitchen And Bathroom, Stainless Appliances . Refrigerator, Wash And Dryer Included. Park In Your Own Garage And Have ...

Keller Williams Realty
Photo of Listing #58237509

1240 Jackson Blvd, Houston, Texas - $239,900

Townhouse/Condo, Townhouse
  • 2 Beds
  • 2 Baths
  • 1,232 SQFT
  • 2 DOM
View details More Photos Save

Location, Location! Small Townhome Community In The Heart Of The Montrose. Walk To River Oaks Shopping District Or Westheimer Area For Shopping And Restaurants. This Home Is Quietly Located At The End Of The Complex And Complete With Front Gree...

Keller Williams Realty
Photo of Listing #75417576

307 Hirsch Rd, Humble, Texas - $150,000

Single-Family
  • 2 Beds
  • 1 Baths
  • 1,208 SQFT
  • 2 DOM
View details More Photos Save

Looking To Get Into A Move-in Ready Home In The Sought-after And Historic Old Humble? This Is Your Chance! This Cute Bungalow-esque Home Features 2 Large Bedrooms And A Sizeable Bathroom Just Off Of The Master. Upon Entering You Are Greeted By An ...

Keller Williams Realty
Photo of Listing #72998476

4641 Wild Indigo St Unit 26/442, Houston, Texas - $178,500

Townhouse/Condo, Condominium
  • 3 Beds
  • 2 Baths
  • 1,300 SQFT
  • 2 DOM
View details More Photos Save

This Rare Three Bedroom 1st-floor Unit Features A Huge Patio, Fresh Paint And Recent Floors. The Kitchen, Both Bathrooms, And The Wet Bar Were Updated With Granite. The Master Bedroom Has An Attached Master Bath With A Tub, Large Walk-in Closet A...

Keller Williams Realty
Photo of Listing #8599388

8518 Dashwood Dr, Houston, Texas - $210,000

Single-Family
  • 4 Beds
  • 2 Baths
  • 2,241 SQFT
  • 2 DOM
View details More Photos Save

8518 Dashwood - Sharpstown Home Centrally Located With Easy Access To 59/69, Beltway 8, And Westpark Tollway. Pride Of Ownership Shows In This Well Maintained Generous One-story 4 Bedroom, 2 Bath Home With Formals, A Large Family Room, And A Cove...

Keller Williams Realty
Photo of Listing #96652332

2611 Pine Village Dr, Houston, Texas - $395,000

Single-Family
  • 4 Beds
  • 2 Baths
  • 1,964 SQFT
  • 2 DOM
View details More Photos Save

Beautifully Remodeled Home With Welcoming, Open Floor Plan In The Desirable Spring Shadows Subdivision. Brand New Wood-look Tile Flooring Throughout, Freshly Painted Inside And Out With Crown Molding Throughout Living/dining Areas. New Hvac Syste...

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 December 14th, 2018 at 2:25pm CST.