Buying a Home in Keller, TX

Buying a new home can be a scary and exciting process. When you’re ready to buy a home, it’s important to head into the market with as much information as possible. By working with Beverly Beasley, your local real estate agent, she will help and guide you every step of the way.

Buying a Home in Keller, TX

When selecting a home to buy, don’t just think of what you need today, but think into the future. Will the home meet your needs five years from now? Things to consider not only include the square footage, number of bed and bath, lot size and architecture style, but the community as well. How far from friends and family do you want to reside? Do you want to be close to shopping, dining, and entertainment? How good is the school district?

The location and what the home offers are two of the most important factors when it comes to selecting the right home to buy. You’re not only purchasing a place to live, but rather, making an investment into a community. Take the time to consider if your new hometown is going to be a place you’ll be happy calling home for years to come. By working with a local real estate agent, you’ll be able to find the perfect home in the right community to meet your needs and budget.

Setting A Budget and Getting Pre-Approved for a Mortgage

To determine which houses you can afford, start with an online calculator. The rule of thumb when it comes to setting a budget is to aim for no more than two-and-a-half times your gross salary, but remember: you don’t want to go house broke. If you have an expensive hobby or you’re working on putting more money aside for travel and retirement, it’s better to keep your budget on the lower end. The best way to accurately see how much a bank is willing to lend you is to get a pre-approval letter. 

With a mortgage pre-approval, your lender will pull your credit report and review your income, assets, and debts. Once approved, you will be given an amount that the bank is willing to loan to you under specific terms. A pre-approval is good for a specified amount of time, usually around 90 days. Getting pre-approved for a loan is recommended before touring houses for sale. This allows you to know how much the bank is willing to lend to you and tells the seller and your Keller real estate agent that you’re serious about purchasing a house.

Be aware: a pre-approval letter is not a guaranteed loan approval. During the process of buying a home, do not make any drastic changes to your financial situation or employment.

New Construction Home vs. Resale Home

When it comes to selecting a new construction home vs. a resale home, there are pros and cons to each. For many, the idea of being the very first owner of a home is exciting. Everything is new, and typically when you’re having a house built, you get to work with the builder on selecting some of the design elements. If the home is located within a new subdivision, those moving into their homes are going to be new to the area, as well. New construction homes will feature the newest architecture styles, it’ll be easier to customize to make it your own, and they’re more likely to be wired with the latest technology.

The downside to new construction homes is the time it takes for them to be built. If you’re moving into a new community, you’ll likely be dealing with construction workers on site for several more months, there may be upgrades you want to make that will add a lot more to the purchase price, and there is typically less room for negotiating.

When it comes to purchasing a resale home, you may find yourself drawn to the more traditional styles and features that older homes have. Established neighborhoods have more character and charm, offering a homier feel. Purchasing a resale home allows you to make changes to the home according to personal style and preference over time and as your budget allows. Resale houses were typically built on larger lots and are usually located in a more convenient metro area.

When purchasing a resale home, you may be able to make your budget stretch further as well as see lower property taxes. However, depending on the age of the house, you may face many repairs and have more need for maintenance. The layout cannot easily be changed, and you’re at the discretion of the seller to be completely honest with you about the issues they’ve faced. Even with a home inspection, underlying issues may not surface until after you close on the house.

Whether you decide to build your dream home or purchase a home full of character and charm, Beverly, your Keller real estate agent, she will ensure you receive all the information you need to make an informed decision on the house you buy. 

Closing On Your Home

After finding a home you want to make an offer on, together with Beverly, you will discuss the best offer price, the time frame you have for closing on the home, and any other contingencies you may have. Beverly will connect you with home inspection companies that she recommends so that you can be made aware of any issues with the home that need to be addressed before closing. Once the inspection is complete, she will negotiate repairs on your behalf and ensure that you get the best possible outcome.  

Once the repairs have been made, the contingencies in the contract have been met, and the mortgage company has given the all-clear to close, it’s time to close on your new home. After your down payment check has been submitted and the loan has been funded, the house will be yours.

Now that you’re better prepared, contact Beverly to set up your in-person appointment to get started on finding your new home in Keller, TX!