A vibrant and fast-growing city, Houston is a great place to call home.
Houston is famous not only for its world-class amenities and attractions, but also for its thriving job market, amazing real estate options, and high quality of life.
Ready to pack your bags and move to this gem of a city? Take some time to read through our tips when investing in new homes for sale in Houston TX.
Get your finances in order
Buying a home is a significant responsibility, so come prepared. Before you even start looking at properties for sale, take a long, hard look at your finances.
You can do this with a series of steps:
- Decide on a budget that you’re comfortable with
- Save up for the down payment of the home
- Check your credit score to make sure you qualify for a mortgage
- Shop for mortgage options
- Compile your financial documents
- For first-time homebuyers, look into homebuyer assistance programs, which are designed to help qualified individuals get one step closer to home ownership
Once you have organized your finances, the next step is to provide banks and lenders with copies of your financial documents. These documents – proof of income, tax returns, IDs, and credit reports – will then be verified in order to help you get pre-approved for a mortgage.
Do your research on the neighborhood and the local real estate market
Before buying a home, look into the neighborhood you are interested in. Find out the state of the local real estate market, the types of homes available in the area, and the amenities you will have access to.
Houston’s housing market, for instance, remains as competitive as the rest of the US. As of April 2022, new homes for sale in Houston TX had a median listing price of $343,990, while condos and townhouses had a median listing price of $231,000. High-rise units, on the other hand, had a median price of $482,452.
Aside from taking note of the housing stock’s price points, prepare a checklist of the items you want to see in your new home. This includes the number of bedrooms and bathrooms you want, storage options, appliances, and other features and amenities. Doing this in advance will save you time and make looking at new homes for sale in Houston TX a lot easier.
Find a reputable real estate agent and brokerage
Finding the right real estate agent can spell the difference between success and failure when it comes to purchasing a home.
Therefore, vet your agent or broker well. Check their track record and look up their online reviews. Shortlist your candidates. Interview them in person, if possible, to see if they live up to their reputation and can help you navigate Houston’s real estate market, as well as ensure a seamless home buying experience.
You can find a real estate agent by getting referrals from friends and family, by tapping official referral sources such as the National Association of Realtors (NAR) website, or by contacting a referral agent.
Exercise due diligence when choosing properties
When purchasing a home, it is important to order an inspection beforehand to evaluate the condition of the home you are interested in.
While home inspections aren’t really required by law, hiring a professional inspector will alert you to potential problems. The home inspection report will reveal what you might face in terms of costly repairs down the road.
A standard home inspection covers the following: the heating and air conditioning system, the interior plumbing and electrical system, and the state of the kitchen and bathroom. The inspection will also look at the property’s security systems, as well as its doors, windows, exteriors, and foundation.
After the inspection, a full report will sum up the overall condition of the property. A good report will include photos, summaries, and notes. It may provide you with an estimate about the remaining useful life of the items covered in the inspection. Do note that while new homes for sale in Houston TX are normally free of any problems, any issues with the house you are eyeing should be brought to the seller and their agent’s attention as soon as possible.