The housing bubble has burst. Mortgage rates and home prices are low and on the rise, making many people optimistic about investing in Erath County real estate as soon as possible. However, buying a home is hard work and you’ll have to keep a few high-level steps in mind. Follow these tips and make sure to have a seasoned real estate professional guide you through the process.
First and foremost, determine your budget. Factor in what you’re paying in rent to how much you would be paying on a home mortgage. Also, a 20% down payment is the rule of thumb to get the lowest mortgage rate that you can, according to the New York Times. After you’ve weighed some facts and figures, shop around for good mortgage rates at a few different lenders and get pre-approved for a loan. Getting pre-approved shows the seller that you have proper financing in place and you’re not a risk.
Once you’re pre-approved, it’s time to start looking for homes within your budget. You might be tempted to shop around at the top of your budget, but factor in closing costs and potential repairs into your home price. Do some research on what homes have been selling for in your area to avoid making an offer that’s too high to someone asking way too much for their home.
Keep in mind how long you’re going to keep the home. Buying a house is a long-term venture and the more time you stick around, the more equity you’re going to have. Also, staying longer gives more time to make upgrades/renovations to increase the home’s value in the long run.
If you’re looking for someone to guide you through the process of buying an Erath County home, please get in touch with us. Having one of our team members on your side will make your Erath County real estate transaction as smooth as possible.
“Cindy Carrell is an amazing realtor! Cindy did an excellent job marketing our home & successfully helping it to sell for exactly what we wanted and in under 60 days. Cindy is professional and a pleasure to work with. She is prompt to answer questions and to help resolve those situations that arise while selling and buying a home. Cindy also helped us find our forever home within a week of listing our house. If you are looking for a realtor Cindy is an excellent choice!”
Cindy Carrell is an amazing realtor!
“Jamie Stockstill held my hand through the entire process. Being a first time home buyer I had a million questions but she was always there, no matter what time of day, to answer my calls or texts. I always felt like she was working for my best interest. I will recommend her to anyone I come across looking to buy or sell.”
“Eric & Jamie Hayden were great to work with. They are very responsive and know the area well. They have a great team around them that made the process of selling very easy. We were out of state during the sale and they went above and beyond to assist in coordinating with us. Definitely recommend!”
“Desiree Bridges went above and beyond to help us first time home buyers go through the, at times stressful, process. She constantly followed up on items and helped us stay on track, along with the bank and seller. Throughout the entire process she was professional, knowledgeable, and trustworthy. She took our complete lack of real estate knowledge in stride and answered every question. We never had to worry that something was slipping through the cracks on her end. And now we are satisfied home owners. Highly recommend and if I were gonna to buy another one I’d go with Miss Desiree again at Hayden Real Estate!!”
“Terry Childers was extremely helpful, reliable, friendly, and knowledgeable. We had some bad luck while house hunting but Terry was persistent and never let up. He went above and beyond to make sure we were satisfied. If we ever sell or buy again Terry is our only choice.”