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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
Photo of Listing #23655545

12633 Memorial Dr Unit 157, Houston, Texas - $172,000

Townhouse/Condo, Condominium
  • 2 Beds
  • 2 Baths
  • 1,152 SQFT
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Come Build Out To Your Own Taste. Downstairs 2 Bed/2 Bath That Was A First Time Flood From Hurricane Harvey. Premier Location In Memorial In Prestigious 77024,minutes From City Centre, Town & Country, And Zoned To The Top 3 Exemplary Schools In Ho...

Keller Williams Realty
Photo of Listing #9890900

3620 Main Plaza Drive Dr, Houston, Texas - $280,000

Single-Family
  • 3 Beds
  • Baths
  • 2,014 SQFT
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Modern 3 Story, 3 Bdrm, 2. 5 Bath Home Located In Contemporary Main Plaza Secured Subdivision. 2 Bedrooms On 1st Floor & Master Bedroom Suite On 3rd Floor. Master Bedroom Suite Offers Granite Counter Tops, Walk In Closet, His & Hers Sink Areas, Sp...

Keller Williams Realty
Photo of Listing #27025401

8931 Headstall Dr, Tomball, Texas - $209,900

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,875 SQFT
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Welcome To Your Future Home. Single Family Home That Contains 1,875 Sq Ft And Was Built In 2009. It Contains 3 Bedrooms And 2 Bathrooms. Enjoy The Quality & Comfort Of This Exceptional Home, Full Of Modern Amenities! Enjoy Chefs Kitchen With Stain...

Keller Williams Realty
Photo of Listing #52537683

802 Pinemont Dr, Houston, Texas - $2,211,960

Single-Family
  • 5 Beds
  • 5 Baths
  • 7,343 SQFT
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Beautiful Home Situated In A Country Like Setting Right In The City. Home Is A Entertainers Dream!! Too Many Upgrades To List. This House Is Truly A Wonderful Place For Big Family Gatherings Or A Great Place To Host Events. Excellent Opportunity...

Keller Williams Realty
Photo of Listing #67678809

6120 Patridge Dr, Pearland, Texas - $185,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,689 SQFT
  • 1 DOM
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Cozy 3 Bedroom, 2 Full Bath 1 Story Home Located In Cypress Village Subdivision. Home Is Designed For Entertaining Guests And Family With Its Easy Flow Between Kitchen And Family Room With Breakfast Space In Kitchen And Separate Formal Dining Room...

Keller Williams Realty
Photo of Listing #20233413

22613 Bowspirit Way, Porter, Texas - $314,900

Single-Family
  • 4 Beds
  • Baths
  • 3,145 SQFT
  • 1 DOM
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Just Over A Mile To Us 59 And The Grand Parkway, This Home Location An Ideal Commute To The Woodlands, Exxon-mobil Or Downtown Houston! The House Sits On A Fenced, Just Over A Quarter Acre Lot. The Community Pool/clubhouse Which Is Within A 3 Minu...

Keller Williams Realty
Photo of Listing #91348234

727 W 16th St, Houston, Texas - $500,000

Excellent Opportunity To Build New Homes 6 Lots Or Commercial Enterprise Combined With 717 And 723 W 16 Almost 1/2 Acre 19650 Contiguous Sq Ft No Deed Restrictions

Keller Williams Realty
Photo of Listing #59691232

651 Bering Dr Unit 704, Houston, Texas - $250,000

Mid/Hi-Rise Condo
  • 2 Beds
  • 2 Baths
  • 1,546 SQFT
  • 1 DOM
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Location. Security. Service. And, Sunset Views From Seventh Floor Balcony. Interior Storage Unit Plus Two Assigned Parking Spots! Sleek 2 Bedroom, 2 Bath Condo With Crown Molding, Stainless Appliances, Granite Counters And Beautiful Flooring Throu...

Keller Williams Realty
Photo of Listing #88689134

749 Bering Dr Unit A, Houston, Texas - $175,000

Townhouse/Condo, Condominium
  • 2 Beds
  • 1 Baths
  • 986 SQFT
  • 1 DOM
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Exceptional Ground Floor, Corner Unit With Enclosed Yard And Decking. This 2 Bdrm, 1 Bth Or 1 Bdrm W/study Has Bamboo And Tile Flooring Throughout With A Fireplace, Breakfast Bar, Dining Nook, Walk-in Closet In Master Bedroom And 1 Car Attached G...

Keller Williams Realty
Photo of Listing #29738914

6115 Calder Field Dr, Katy, Texas - $324,900

Single-Family
  • 4 Beds
  • Baths
  • 3,033 SQFT
  • 1 DOM
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Highly Sought After Mathews Model By Westin Homes! Upgraded Stone Elevation/brick Entry. Techi-shield! Amazing 2 Story W/circular Wrought Iron Stairway W/rotunda Entry! Art-niches! Upgrade Extended Tile Entry! Butler Pantry W/granite Counters! Gou...

Keller Williams Realty
Photo of Listing #32622782

804 Hyde Park Blvd, Houston, Texas - $399,000

Townhouse/Condo, Townhouse
  • 2 Beds
  • Baths
  • 2,118 SQFT
  • 1 DOM
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Nicely Updated, Light And Bright Contemporary Town-home With Soaring Ceilings, Gas-log Fireplace, Beautiful Large Kitchen With Granite Counter-tops And Stainless Appliances, Pot-filler Over The Stove, Lots Of Storage, Separate Large Breakfast Room...

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 February 24th, 2018 at 11:27am CST.