Welcome to our article on tips for buying during an Austin home search. The market in Austin is hot and people are flocking here and buying up real estate. If you are hoping to join in on the fun read these tips so you can end up with a home at a price you can be happy with.
1. Get Pre-Approved So you have decided to buy a home. In Austin, homes are getting snatched up left and right so save yourself time and get pre-approved for financing. This can save you the heartache of missing out on your dream home because you were waiting for some paperwork. It also makes you look better to the seller and can you put in the top running for a home. Keep in mind that it is usually a more in-depth process and takes time so start the process before you find a house you want to put an offer on.
2. Have Your Down Payment Ready To Go In Austin this is typically 10 to 20 percent depending on your credit score and the price of the home you want to buy. You may get lucky if it’s a new home and get away with only 5 percent but it’s best to be prepared for more rather than less. Speaking of costs, don’t forget to consider property taxes. Because the worth of homes in Austin has gone up so have property taxes. Calculate that into your monthly payments so you know what you can truly afford.
3. Buy A House In An Up And Coming Neighborhood You have probably heard this before, but location is everything. Where the home is more important than what the house looks like. A home can be renovated but it can’t be moved. Location determines the future property value and how easy it will be to sell in the future. There are several hot neighborhoods in Austin so take your pick and you won’t regret it later. The location of your house also determines the schools your kids will go to so it’s best to do your research.
4. Don’t End Up With Regrets When putting a bid on a house make an offer that you won’t regret later. If you want the house make an offer that you will feel good about even if the seller accepts someone else’s offer. You don’t get a second chance when it comes to this so do your research on the area and what homes are going for. Basing it just on the appraisal of the home in Austin may leave you underestimating what the seller is trying to get due to rising home prices.
5. Hire Your Own Broker This will be someone who knows the area well and will do the dirty work for you. They can better determine what you can afford and will try to find you good options. You’ll be paying a broker’s fee in the sale anyways so might as well hire one that has your interest at heart, rather than using the seller’s broker. Play the field when it comes to real estate agents and interview several and know what you want out of one. A good one will be able to give you home options as soon as they come on the market. Having trouble finding what you want? Give us a call and we’ll help you find your dream home.