REAL TipS: BUYING

Three tips for first-time homebuyers

If you are considering buying your first home, here are some great pieces of advice to follow when setting out:

Understand the lingo. Do your best to obtain general knowledge about the homebuying process and the real estate market. Your Texas REALTOR® can be an invaluable asset to you when starting out. You might also look into taking a homebuyer education course; The Texas Department of Housing and Community Affairs offers classes around the state.

Know the market. The type of market you’re in will dictate the offer you make on a property. Hire a Texas REALTOR® who understands market trends and knows the neighborhood where you are looking to buy. Your REALTOR® can track sale prices in your shopping area and look at comparables to help you make an appropriate offer.

Don’t buy the biggest. If you are purchasing your first home, consider choosing the least expensive house on the best block. Buy into the most expensive neighborhood in the best community that you can afford. Typically, the least expensive home in a desirable area will give you the greatest return on your investment.

Work with your Texas REALTOR® throughout the homebuying process. From helping you find the perfect home to assisting you in understanding complex real estate contracts, you REALTOR® can make your first-time homebuying experience a success.

Texas Association of Realtors®