Why you should Buy in Houston
If you’re thinking of buying a property in Houston, you’re not alone. Houston is the 4th largest city in America, and is home to people and businesses from all over the world. Explore the different neighborhoods inside Houston and discover which one suits you best.
My 11 Steps towards Buying a Home
How each stage of the process works
1| Hire a Realtor
Buying a home involves some technical obstacles that a realtor can assist with due to their experience and expertise in the industry. Of course there’s always the option to go it alone, but bear in mind that the seller probably has an agent covering their interest.
2| Determine Your Budget
I can help you assess your personal finances and determine your budget and what to spend on a regular basis. This will give you an idea of the homes you can afford, including the extra monthly expenditure you should anticipate.
3| Get Pre-Approved
A pre-approval is a letter stating that a lender is willing to loan you a specified amount to buy a house. This indicates to everyone involved, including the seller and their agents, that you are serious about buying, and not just window shopping
4| Consider Transaction Costs
Carry out a critical assessment of Finances, to determine how much you can afford taking into consideration Income, debts, regular expenditures and other key financial information. A mortgage professional can help you determine how much you can afford to pay every month.
5| House Hunting
This is probably the most fun part of the process, where you get to explore and compare a plethora of homes and neighborhoods. Make a list of must-have features, but most homes will not have everything you want, so be ready to sacrifice where necessary
6| Make an Offer
When you identify your preferred home, make an offer to the seller.Your agent will help conduct a comparative market analysis of similar homes to determine the right offer to make. Your pre-approval letter will reinforce your seriousness to buy.
7| Home Inspection
A home inspection confirms that the property is as stated in the sale. Omitting this might incur costs later on, which you will be liable for. Areas to check include the HVAC system, roofs, pipes and foundation of the home
8| Resolve Repairs
This would naturally occur between the appraisal and inspection. It should be very clear if any repairs are required. You can negotiate with the seller to have the repairs done before you move or to deduct the cost from the property price.
9| An Appraisal
Your mortgage lender will want to ascertain that the home valuation is correct, and this can be determined by conducting an appraisal of the property, either by the lender or an independent hire. A successful appraisal will finalize your mortgage approval to buy
10| Final Walkthrough
A Final Walkthrough is a final chance to highlight any anomalies in the purchase, and familiarize yourself with requirements like utilities, security, landscaping etc. Determine your move in dates and any potential obstacles that could impede on this.
11| Close and Move in
The final walkthrough should happen as close to the close date as possible. Sign all the required documents, and retrieve the keys from the seller. Congratulations! You are now a homeowner. It takes about 90 days to get into the stride of things, so be patient and enjoy it.
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