Buying a home in Texas is a big commitment. It means taking out a sizeable loan for which you will be responsible for paying off over the next 10 to 30 years. 

However, this shouldn’t dissuade you from buying a home in Austin. Buying a house in this amazing city will be incredibly rewarding. Assuming you are in a good financial position to buy a house, you shouldn’t let anything stop you. 

We want to help you make sure everything is in order. Keep reading for a new resident’s guide to buying a home in Texas.

Understand Your Finances

First, you need to know what you’re working with financially. Start by digging into your bank statements and credit card statements. Identify your monthly cash flow to determine how much money you can comfortably afford to spend on housing each month. 

This includes:

• Monthly mortgage payments
• Property taxes
• Homeowners insurance
• HOA fees (if they apply)
• Utilities and services
• Yearly maintenance and repairs
• Etc. 

We also recommend getting preapproved for a mortgage before you start shopping for houses. This way you know exactly how much money you can get approved for. Then, you can start house hunting accordingly. 

Hire an Experienced Austin Real Estate Agent

When buying a home in Austin, work with a local real estate agent. This is especially important if you’re new to the area. They can help you find the best homes in the best locations based on your needs. 

They have insight regarding the best school districts, the safest neighborhoods, and more. They also have important connections with other local professionals, such as contractors, insurance agents, lenders, etc. 

Identify Your Top House-Hunting Priorities

You can expedite the house-hunting process by providing your relator with a list of priorities. These are the things you’re looking for in your next home. 

This all comes down to your preferences and lifestyle. For example, do you want to be centrally located or live in a quiet neighborhood? How big of a house do you want?

You also need to think about the number of bedrooms you need, backyard space, and more. Work with your family to come up with a prioritized list of wants and needs for your new home. 

Have the Home Inspected and Appraised

Lastly, when buying a home in Austin, it’s vital to verify its condition and value before finalizing your offer. We recommend getting an official home inspection to identify any damages or issues. If there are any plumbing issues, contact Mr. Rooter to further assess the damages and discuss viable solutions. 

Additionally, you’ll want an official home appraisal from a third party. This will give you peace of mind that the home is worth what the seller is listing it for. It might also be a requirement for your lender. 

Thinking About Buying a Home in Austin?

We couldn’t be more excited about you buying a home in Austin. This city has so much to offer, personally and professionally. Follow our guide to make sure all of your ducks are in a row before you start making offers. 

And if you’re looking for more advice on owning a home in Texas or buying real estate, you’re in the right place. Check out some of our other articles to find more homeowner tips and advice.