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    Benefits of Home Ownership

    Questions to Ask Before Buying a Home

    Steps to Buying a Home

    WHAT TO ASK BEFORE SIGNING ON THE DOTTED LINE...

    Whether you’re a first-time buyer or a seasoned real estate investor, buying a home is always an exciting process. However, there’s also a lot to consider when you decide to buy.

    So before you begin your search for the perfect property, here are a few questions you should ask yourself.

     

    • What do I want? Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops, there are many different options on the market and it’s important to choose the type that best fits your needs. Figuring out the town or neighborhood you want to live in is equally important. While a property might have all of the amenities you’re looking for, factors like crime rate and proximity to highways can impact the overall home-owning experience. A good idea is to list out and prioritize your needs (e.g. large backyard, great school system) before you begin your search.

     

    • What can I afford? The rule of thumb is that you should never spend more than 30% of your monthly income on a mortgage payment. An alternate rule states that you can afford to buy a property that runs about two-and-a-half times your annual salary. For a more tailored look at what you can afford, use an online mortgage calculator to see what your monthly mortgage payments would be if you bought a home today.

     

    • Am I financially prepared? A few months before you start searching for a home, review your credit history and make sure it is in good standing. Get copies of your credit report, ensure that it’s accurate, and fix any issues you discover. It’s likely that you’ll also want to get pre-approved for a home loan, which will put you in a better position to make a serious offer once you find the right property. Pre-approval from a lender is based on your credit history, debt, and income.

     

    • How do I make the best bid possible? Do your research! Your opening bid should be based on the sales trends of similar homes in the area. So before making your opening bid, get online and review the selling prices of comparable properties. If these properties sold for less than the current asking price of the home you’re looking at, you can feel comfortable a bid that’s slightly lower than what the seller is asking. Your Realtor will help you do this correctly. 

     

    • Should I wait a little longer? Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire your own home inspector, who can point out potential problems that could require costly repairs in the future. If you’re not quite ready to make a purchase, then leasing is a solid hold-over. Click here to see if leasing is right for you.

    Have More Questions? Contact Us!

    15875 Spectrum  Drive Unit 4105, Addison image
    15875 Spectrum Drive Unit 4105, Addison — Meridian Square Condomini $560,000

    Single-level condo on the top floor of a four-story building, which is part of the upscale Meridian Square community of Addison. Perfect for viewing the skyline of Addis...

    • 3 Beds
    • 3 Baths
    • 20438618 MLS
    Courtesy of SunVista Texas, LLC

    Listing courtesy of Debora Harms from SunVista Texas, LLC. Contact:

    3225 Mountcross  Road, Mesquite image
    3225 Mountcross Road, Mesquite $497,280

    MLS# 20438532 - Built by Chesmar Homes Homes - December estimated completion ~ Spacious front covered porch with stone and brick front. Private staircase, open rail, with...

    • 4 Beds
    • 4 Baths
    • 20438532 MLS
    Courtesy of Chesmar Homes

    Listing courtesy of Daisy Lopez from Chesmar Homes. Contact:

    3104 Mountcross  Road, Mesquite image
    3104 Mountcross Road, Mesquite $478,862

    MLS# 20438458 - Built by Chesmar Homes Homes - November-December completion! Beautiful elevation with an amazing entry and foyer. Spacious back yard with no maintenance...

    • 5 Beds
    • 4 Baths
    • 20438458 MLS
    Courtesy of Chesmar Homes

    Listing courtesy of Daisy Lopez from Chesmar Homes. Contact:

    4603 Hopkins  Avenue, Dallas image
    4603 Hopkins Avenue, Dallas $895,000

    This California Contemporary house is one of 50 new construction homes on a single block of Hopkins Avenue. 8 available in this Phase. Experience true luxury in one of th...

    • 3 Beds
    • 3 Baths
    • 20434995 MLS
    Courtesy of At Properties Christie's Int'l

    Listing courtesy of Piper Young from At Properties Christie's Int'l. Contact: 214-821-3336

    property image
    419 W 9th Street Unit B, Dallas — Rosen-Bishop Arts $625,000

    In the heart of Bishop Arts, surrounded by some of the best restaurants, shops and bars in Dallas! Beautifully finished with quartz countertops, modern high-end cabinets ...

    • 2 Beds
    • 3 Baths
    • 20438064 MLS
    Courtesy of Dave Perry Miller Real Estate

    Listing courtesy of Daniel Quintana from Dave Perry Miller Real Estate. Contact: 214-303-1133

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    • My wife and I are beyond lucky we found such a patient and well rounded agent like Rawlins. No question was left unanswered as he explained the entire process from start to finish. We visited multiple houses and at no point did he come off as wanting to find a quick sale. He helped us look for the home that would be right for "us"! No matter how many times he had to drive across town to meet us, his friendly attitude and level of professionalism showed the entire time. At times it seemed like he was more than an agent doing his job, he seemed like a real good friend in the business who was looking out for us to make sure we got the best deal that would work both for our future family and our pocket. So if you're renting like we were and are now ready for home ownership, I would highly recommend letting Rawlins and his team help you find your future home!!! Johnny A., Grand Prairie, TX

    • I'll admit I can be very picky with the location and type of home I was looking for. So that, on top of a very competitive market made it seem impossible to find the perfect home. I was becoming overwhelmed, but Rawlins was always very flexible with his time and made it possible to view the homes with me. He always answered his phone and stayed in good communication the entire day no matter the time. When I least expected it, we found the home that made perfect sense for my family and a purchase I was truly proud of! They say patience is key, and it is true! Thank you Rawlins!! Lucy, Grand Prairie, TX

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