As one of the first suburbs of Houston, Houston Heights (The Heights) is a large historic district with an energetic, diverse, and funky vibe. Rich in character, charm, and fun things to do, The Heights is a popular option for young professionals, families, and others.
If you’re considering buying a new home in the Houston Heights area, here’s a simple guide outlining everything you need to know and do so the process goes as smoothly as possible.
Step 1: Figure Out What You Can Afford
Examine your income and financial standing to see what you can afford to pay for a down payment and what you can afford in terms of a monthly mortgage payment. If you don’t have much (or any savings), check out some of the available options for putting little to no money down. You should also look into programs, like these, that can help with your down payment costs for new homes.
Step 2: Shop for a Mortgage Lender & Get a Pre-Approval
Once you have a clear idea of what you can afford and what kind of financial programs you can rely on, start looking for the best mortgage deal you can find. Different lenders may offer different programs and interest rates, so shop around.
Here, it’s important to note that pre-approvals are typically offered at amounts that no more than three to five times borrowers’ yearly income if borrowers:
· Will put 20 percent of purchase price down
· Have minimal to moderate debt.
When you find the best deal, move forward with the pre-approval process. This will facilitate the purchase when you do find a home, and it may even give you an edge in negotiations (if other interested parties have not yet been pre-approved by a lender). To get a pre-approval, you’ll have to submit various financial documents with a lender, like:
· Bank account statements
· W-2 records
· And possibly more.
Step 3: Start Shopping for Your New Home
Check out listings online and visit options you like in person. This part of the home buying process is different for everyone, depending on the available listings. It can take weeks to months or longer, especially if you’re looking for something really specific.
Step 4: Contact New Home Gurus
Once you’ve found your new dream home in The Heights, contact New Home Gurus to work with experienced Realtors® who will advise and guide you at every step moving forward.
New Home Gurus offers an exclusive program to first-time homebuyers purchasing new homes in the Houston Heights (and anywhere in Texas). Through this program, buyers can get expert assistance navigating the rest of the home buying process, and they can get half of the buyer’s commission after they close on their new home!
First-time homebuyers who work with New Home Gurus get back an average of $4,500 to $12,000 when they close on their new homes! To find out how much cash back you’ll get at closing,
call (281) 668-8124 or email us
Step 5: Make an Offer & Negotiate a Purchase Price
A good offer will consider the asking price, your budget, the market, the demand for the home you want, and other factors. The Realtors® at New Home Gurus can help you determine what the best offer is for the home you’re considering, and we’ll help you present the formal offer.
If your offer is countered or rejected, our experts can help you navigate the negotiation process like pro!
Step 6: Get a Home Inspection, Appraisal & the Mortgage
After you and the seller agree on a purchase price, you’ll need to get the home inspected and appraised, as well as green light the mortgage with your lender.
While your lender may require a home inspection and appraisal, even if it’s not required, it’s still in your best interest to get both of these professional evaluations done so that you know:
· Whether the home may have any hidden issues or problems
· How the purchase price stacks up against the fair market value of the home.
Step 7: Close on Your New Houston Heights Home
The closing will typically involve a lot of paperwork, with the Title Company and lender getting everything in order for you and the seller to review and sign. At this point, you’ll:
· Sign off on the mortgage papers – Depending on when you sign the papers (and your lender), it can take a couple of days to process this paperwork.
· Make sure the closing costs are paid for – Your agreement with the seller should dictate who pays the closing costs, which typically include the fees and costs for the appraisal, homeowner’s insurance, property taxes, etc.
Step 8: Collect Half of the Buyer’s Commission
Once you’ve closed on your home, it’s time to collect 50 percent of the buyer’s commission if you were working with New Home Gurus! This money can be used for anything from closing costs and moving costs to cleaning costs, new furniture, and more.
Find Out Home Much You Can Get Back When You Close on Your New Houston Heights Home: Contact New Home Gurus Now!
Discover how much money you can get when you close on your new home by contacting New Home Gurus now! Simply call (281) 668-8124 or email us for hassle-free answers about our exclusive money-back program for first-time buyers in Texas! Our gurus are standing by, ready to explain how our commission-sharing program works.
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