Real Estate Information Archive


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11 Steps to Owning Your First Home

by Rebecca Shahan

Are you getting ready to buy your first home in Austin or Lake Travis?  If so, it’s certainly an exciting time for you. It’s easy to get lost in all the emotions and happenings. The trick is to not let yourself get swept away in the process.  But don’t worry, if you keep on track, you can successfully buy your first home in Austin and come out on top.  What are the steps involved, and how can you successfully complete them all so that you find the house of your dreams in Austin and the surrounding communities?

Here are the 11 steps that you need to follow.

  1. Do Your Homework
    Buying a home is without a doubt the biggest financial decision you’ll likely make in your life. You’ll need to consider factors such as price, housing type, neighborhood, school districts, and more. You can complete this worksheet to help you figure all these items out. Make sure to fill it out with everyone who’s involved in the process so that everyone has the same goals in mind.
  2. Start Shopping for Homes in Austin
    Now that you know what you're looking for, start looking for listings online.  Here's a great tool for finding the ideal home in Austin and surrounding communities.
  3. Find a Great Agent
    Rebecca Shahan is ready to help you find the perfect first home and help you through the process of finding the perfect home in Austin and Lake Travis.
  4. Choose a Lender
    Now it’s time to find the right mortgage lender. Your lender will be working closely with you throughout the process, so it’s important to find one that understands your goals and needs.
  5. Pick a Loan
    Your lender will work with you to determine the right mortgage to fit your financial needs.  You'll need to provide proof of income, employment, and other details.
  6. Look at Homes
    Here comes the fun part of the process! Rebecca Shahan can help you find homes in in Austin and the surrounding areas in Texas that fit your budget and the needs you determined in step 1.
  7. Make an Offer
    Now that you’ve located the home you want in Austin, then you make the offer.  Rebecca can help you decide how much you want to pay, along with contingencies that both parties can agree on.
  8. Negotiate, Negotiate, Negotiate
    This is where you work out the deal for your new home.  But watch out that you don’t get carried away by emotions because you want the house. Some sellers may just accept your offer, but some may make a counter-offer.  Your agent will work with you to decide what to do.
  9. Inspect the Home
    When an offer is accepted, then you'll sign a contract that will no doubt include a home inspection contingency.  At this point you'll hire a licensed home inspector to look for needed repairs. If major repairs are needed, then the seller will be asked to make those repairs.
  10. Appraisal
    Your lender needs to determine if the home is worth enough to cover the mortgage.
  11. Close the Deal
    You’re almost there! You just need to sign the final paperwork to finish the deal.  Now it’s time to get moved into your first home!

Rebecca Shahan has been helping people buy their first home in in Austin for years. She can help you through all of these steps to guide you to owning your first home in in Austin. Call her today at 512-657-4467.

Tips For First Time Buyers

by Rebecca Shahan

Are you ready to buy your first home?  It's certainly an exciting, yet sometimes terrifying, time. It's one of the biggest decisions you can make, and the process can intimidating. But there are a number of things you can do to make the process more pleasant, and as the same time save money.

Here's a few tips for those who are just starting out on the journey of buying their first home.

  1. Start saving early.  You can put down as little as 3% on a loan, but that may mean you pay more for private mortgage insurance.  Keep in mind that even a small down payment can be hefty. Try this mortgage calculator to find out how much a down payment might be based on the price range of home you're looking for.
  2. How much can you afford? Of course you need to know what price range is within reach.  You can use a home affordability calculator to find out.
  3. Check your credit. Your credit score means a lot when getting a mortgage and how much you can borrow.  Make sure your credit record is clean of any problems or incorrect items that may affect it.

These are just a few tips to get you started.  If you're seriously thinking about buying your first home, please feel free to give us a call.  We'll be happy to help you start your journey to home-ownership.

Displaying blog entries 1-2 of 2