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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 #32777722

1732 Indiana St, Houston, Texas - $535,000

Single-Family
  • 2 Beds
  • 2 Baths
  • 1,349 SQFT
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Per Seller: Selling "as Is" And No Repairs. Excellent Opportunity To Renovate And Mix The Old World Charm With The Modern Amenities Of Today Or Occupy Now And Build Your Dream Home Later. Beautiful Hardwood Floors, Double Pane Windows, Vaulted Cei...

Keller Williams Realty
Photo of Listing #26443952

6703 Burning Tree Dr, Houston, Texas - $389,500

Single-Family
  • 6 Beds
  • Baths
  • 3,300 SQFT
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6703 Burning Tree – Unique Home On A Prime Lot On The Golf Course. This Is A 6 Bedroom (yes 6), 2 ½ Bath Home With Three Bedrooms Up And Three Down. The Large Bedrooms Upstairs Have Large Walk-in Closets And There Is Also Additional Storage In Two...

Keller Williams Realty
Photo of Listing #44461020

5902 Kansas St, Houston, Texas - $395,000

Single-Family
  • 3 Beds
  • 3 Baths
  • 2,262 SQFT
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Incredible Value! Rare Opportunity To Own Your Inner-loop Dream Home At An Unbeatable Price! This Stunning Home By Intown Homes In The Coveted Cottage Grove Community Features A Beautifully Open Floor Plan With Upgrades Galore! The Attention To Ar...

Keller Williams Realty
Photo of Listing #35991024

35 Napoli Way Dr, Missouri City, Texas - $899,999

Single-Family
  • 6 Beds
  • 5 Baths
  • 5,485 SQFT
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Welcome Home To This Highly Desirable Taylor Morrison Home Located In Sienna Village Of Bees Located In Sienna Plantation. A Unique Gated Entry That Leads You To An Oversized Courtyard Connected To The Main Entry Of The Home. This Home Offers 5 Ov...

Keller Williams Realty
Photo of Listing #53424042

4212 Rice Blvd, Houston, Texas - $1,395,000

Single-Family
  • 4 Beds
  • Baths
  • 3,918 SQFT
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Beautiful West U Home: Freshly Painted Inside And Out. Tons Of Natural Light. Open Concept. Extra Wide Lot. Wall Of Windows Overlooks Saltwater Pool And Hot Tub. New Landscaping, Custom Steel Front Entrance, Sub-zero Refrigerator, Bosch Dishwa...

Keller Williams Realty
Photo of Listing #42493126

4816 Post Oak Timber Dr, Houston, Texas - $1,100,000

Townhouse/Condo, Townhouse
  • 3 Beds
  • 5 Baths
  • 5,481 SQFT
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Sweeping Circular Staircase Provides An Awesome Flow To This Elegant Two Story Home. 1st Floor Master Bedroom With Separate His And Her Baths With Large Stall Shower And Jetted Tub. Program Martin Custom Closets With Pull Down Rods And Clear Fron...

Keller Williams Realty
Photo of Listing #15645459

5114 Aspen St, Bellaire, Texas - $1,400,000

Single-Family
  • 5 Beds
  • 5 Baths
  • 5,420 SQFT
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Beautifully Appointed Home With Superb Construction. Brick And Wood Home Does Feature Lovely Custom Pool, Large Inviting Front And Back Porches, Landscaped Yard, A Dream Chef's Kitchen With Butler's Pantry, Mudroom Off Kitchen With Cabinets And Ho...

Keller Williams Realty
Photo of Listing #89667075

11214 Royal Sands Ct, Houston, Texas - $150,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 1,375 SQFT
  • 1 DOM
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Charming 3 Bedroom, One Story Home In Convenient Location Off Of 249 Near Beltway 8 And 45. Granite Countertops In The Kitchen, Kitchen Island , Spacious Living Area With High Ceilings, Breakfast Area, No Back Neighbors On A Cul-de-sac Street Mak...

Keller Williams Realty
Photo of Listing #46653755

17819 Camp Cove Dr, Cypress, Texas - $299,000

Single-Family
  • 3 Beds
  • 2 Baths
  • 2,296 SQFT
  • 1 DOM
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Waterfront Property! Spectacular Water Views From Your Main Living Areas And Large Covered Back Porch! Open Concept One Story In Sydney Harbour For A Vacation Lifestyle Quietly Nestled Inside The Nearby Hustle And Bustle Of City Access, Shopping, ...

Keller Williams Realty
Photo of Listing #13427711

2501 Watertown Mall Unit 84, Houston, Texas - $240,000

Townhouse/Condo, Condominium
  • 2 Beds
  • Baths
  • 1,520 SQFT
  • 1 DOM
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Charming, Well Maintained Condo Located In Desirable Briargrove Community. Easy Maintenance Saltillo Tile And Wood Flooring Throughout Main Living Area. Nicely Updated Kitchen With Beautiful Countertops And Tile Backsplash. All Bedrooms Upstairs ...

Keller Williams Realty
Photo of Listing #15429379

1614 Morse St, Houston, Texas - $1,449,000

Single-Family
  • 4 Beds
  • Baths
  • 3,878 SQFT
  • 1 DOM
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Stunning Santa Barbara Style Home By Croix Custom Homes, Located In One Of The Best Blocks Close To The River Oaks Shopping Center. This Home Offers A Tile Roof, Sparkling Pool, Covered Lanai, Outdoor Living Spaces And A Summer Kitchen For The Ult...

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 April 25th, 2018 at 10:26pm CDT.