Insider's Guide to Buying a New Home in the Spring Branch Neighborhood of Houston
Insider’s Guide to Buying a New Home in the Spring Branch Neighborhood of Houston
Spring Branch is a diverse, energetic neighborhood in northwest Houston that is home to young professionals, families, and many others. Known for its rich past and rebirth over recent decades, Spring Branch has become an increasingly appealing area for homebuyers looking to move to Houston.
If you’re one of the many who are shopping for homes in Spring Branch, this guide points out what you need to know as you get started. We’ve described the process in terms of the five critical factors homebuyers need to focus on to successfully buy their dream home.
5 Key Factors to Focus on When Buying a New Home in Spring Branch
1. Money – This really comes down to how much you can afford to put towards a down payment (while still being able to cover closing costs) and how much you can comfortably afford in terms of a monthly mortgage. Tackling the money hurdle first can help you determine whether now’s the right time to buy and, if so, your budget.
2. Credit & the Lender – These factors go hand-in-hand because lenders take a close look at your credit when they are deciding whether to lend you money. Essentially, your credit plays a big role in your borrowing power.
· If you have poor credit, you may still qualify for some of these special programs. Or you may want to work on improving your credit before buying a home so you can get a better mortgage deal.
· If you have decent to good credit, you’ll likely have more lending options and better mortgage rates.
3. Finding a Home – This can take some research and legwork, but many homebuyers enjoy this aspect of the process! From browsing online listings to taking online tours and visiting open houses, the search for the perfect home can take some time. For those eager to find their dream home, it can be helpful to list out the must-have features and the deal-breaking features. This can be a big time saver in the search for the right home.
4. Agreeing on a Price – Once you find the home you want, the next point of focus will be getting the seller to agree to your offer (or walking away and starting the process again). If you’re not willing to walk away, here’s what you need to do:
· Make a reasonable offer – To make a good offer, figure out what’s reasonable based on the asking price, the market, your budget, and the seller’s eagerness to sell. If other buyers are interested in the home, that’s something important to factor in your bid as well.
· Strategically negotiate if your offer isn’t accepted – Know what else you can and are willing to offer if your offer is turned down or countered. Remember, this doesn’t always have to be a higher purchase price (though that often helps). You could also offer to cover the closing costs, let the seller stay in the home for some period of time after the sale, etc.
· Finalize the terms of the purchase – This involves formally nailing down all the details in a contract. It can cover everything from the exact purchase price to who’s covering closing costs, whether any items in the home are part of the purchase, the seller’s move out date, and more.
5. Closing on the Home – After all of the hurdles above, this one is usually the easiest for homebuyers, especially if they have had the foresight to plan for closing costs (or if the seller is covering closing costs). Typically, this phase involves completing:
· The home inspection and appraisal
· All of the mortgage paperwork
· Payment of the closing costs.
New Home Guru’s Exclusive Program Can Help First-Time Homebuyers Overcome These Hurdles & Get Their Dream Home!
Buying a new home in Spring Branch – or anywhere in Texas – doesn’t have to be as stressful, confusing, or costly as it may seem, especially if first-time homebuyers are working with the experienced Realtors® at New Home Gurus! That’s because we providing first-time homebuyers with:
· Expert guidance, support, and help buying their dream home – Once buyers have found their dream home, we’ll help them do everything from drafting an offer to reviewing all paperwork and closing on their home.
· A commission-sharing program that offers them half the buyer’s commission at closing – First-time homebuyers who work with New Home Gurus get an average of $4,500 to $12,000 back in their pockets at closing!
Find Out How Much Cash Back You’ll Get at Closing
Call (281) 668-8124 or Email Us
To find out more about how our commission-sharing program works, simply contact us! We are ready to answer your questions and help you get into your dream home!