Are you considering buying a home this year? You may be overwhelmed with the amount of information that can be found online. Christine Richards has years of experience showing and selling homes, and has the inside scoop on the buying process! Today, we’re going to share our top 4 reasons buying a home is more attainable than you may think. Using years of first-hand experience and expert knowledge, Richards Realty can make the home buying process simple and fun!
1. You Can Probably Afford More Than You Think
“How much can I afford?” This question is often the first one asked when looking for a home to buy. With the market fluctuating, especially in Texas, there can be some confusion around this. Luckily for you, Christine Richards has made it easy to answer this common question. When you go to apply for a mortgage, the lender will use all the relevant data such as your income, your existing debts, the purchase price of the house, your down payment, the interest rate on the loan, and the cost of property taxes and insurance. From here, they will calculate whether you qualify to borrow the amount of money you need to buy the house. There is a loan out there for you, and Richards Realty can help find it!
2. Interest Rates Can Fluctuate
Interest rates may seem unattainable at first, but keep in mind the market and how it fluctuates. Just because rates are high now, doesn’t mean that they won’t drop again! A lower interest rate allows you to borrow more money than a high rate with the same monthly payment. Interest rates fluctuate from day-to-day, so ask lenders if they offer a rate “lock-in,” which guarantees a specific interest rate for a certain period of time. Remember that a lender must disclose to you the Annual Percentage Rate (APR), which will provide you with a good estimate of the actual cost of the loan. Being prepared is your best course of action, and more attainable than you may think!
3. A Buyer’s Agent Can Help
Whether you’re a first time homebuyer or looking for a change, a buyer’s agent can help make the home buying process much easier! A buyer’s agent represents you, the buyer, not the seller, and has full fiduciary duties, including loyalty to you. By definition, the buyer’s agent has your best interests in mind throughout the transaction. The percentage of homebuyers with buyer representation has grown significantly in the past decade. According to a recent National Association of Realtors® survey, nearly half (46%) of home buyers used the services of a buyer’s agent last year, and four out of every five buyer’s agent agreements were in writing. Protect yourself and your new investment properly to avoid unnecessary headaches!
4. Richards Realty Home Buyer Resources
Christine Richards is an expert in all-things home, and this includes buying and selling! There are numerous resources on richardsrealtygroup.com dedicated to buyers and sellers. The Buyer Reports section is a great place to start understanding the in’s and out’s of buying a home. Christine Richards strives to make the home buying process easy and positive! If you’re putting off buying a home because you’re not sure where to begin, this is a great resource.
Now that you’ve seen some of the reasons buying a home is more attainable than you may think, are you ready to get started? Christine Richards is! From your first interaction to times beyond closing, Richards Realty group is here to help you.
To get started and buy the home of your dreams in 2023, contact us today!