Buying a home in Austin or any where can be a daunting undertaking. If this is your first home, you probably aren't sure what's involved. If you're an experienced homeowner, previous stressful experiences might make you think twice about jumping into the ranks of home buyers again.
Step one in the buying process is making the decision to buy. Still not sure? Here are a few facts to get you in over your concerns.
- If you are paying rent, you very likely can afford to buy. In fact, in many areas of the country, rent is higher than mortgage payments in the same neightborhood
- There is never a "bad" time to buy. Even if it's a seller's market, you can probably find a good price on a good home. (A good Realtor is your best asset when it comes to finding that perfect home.)
- Worried about the down payment? There may be options for people who need to buy with only a small amount down. Talk to your bank and your Realtor about programs for first time buyers, single parents, veterans and other special categories. Rent-to-own is another option for those who might not have the cash up front.
- Even people with les-than-perfect credit scores can buy homes. See if your bank or credit union has a program to help you overcome past credit mistakes.
- The home you buy now doesn't have to be your dream home. Start with the home you can afford and work up over time. While you wait, you'll be accumulating equity to use towards the next home in your long-range plan.
- Buying a home doesn't have to be complex. A good Realtor will help you through the process, providing advice and the right documents for each step of the buying process
