I Want to Buy a Home in Fort Worth, TX

June 20, 2019

Being ready to buy your first home in Fort Worth, TX is a major decision that, when done correctly, should bring your family joy for many years to come. However, the last thing you want to do with a decision this important is rush into a hasty or uninformed choice before you are ready. Here are three questions to ask yourself before you even begin your search to ensure that you get the most out of the entire home buying process.

Do I understand the true cost of ownership?

Even if you are able to make a substantial down payment for your future home, there are many costs that first-time buyers are unaware of that can quickly throw their finances into disorder. Although a monthly mortgage payment may be similar to the amount you currently pay for rent, you will also be responsible for the costs of all the utilities, repairs, property taxes and homeowner’s insurance. These costs can add up fast and can send a shockwave through your bank account if you are not fully financially prepared for all that home ownership entails.

How much house can I afford?

Determining how much you can reasonably afford to spend on a new home requires more than just throwing your salary into a mortgage calculator. Because of those aforementioned expenses that can sometimes come out of nowhere, it is best to use your actual take-home pay as the guide for what you can reasonably pay each month. As a general rule, the house that you can comfortably afford will be no more than 25 percent of your take-home pay each month, keeping in mind that your monthly amount will include your mortgage and all of the additional home ownership costs as well.

What is my family truly looking for?

Another step that will be helpful in making sure you are able to find your dream home is weighing the factors that are most important to you before you begin your search in earnest. There is nothing more deflating than finding a home that you can afford and are financially ready to move in to, only to find that the neighborhood doesn’t have any good schools for your children (or the children you may plan on having in the future). Calculating your commute time and researching the noise levels and crime rates in your target area are also good ideas, and will help you determine which homes are worth pursuing.

When you have found the right fit and want to buy a home in Fort Worth, TX, you will know it, but you must make sure you have fully prepared yourself financially to take the plunge. With careful planning and saving, though, buying your first home will be the smooth and enjoyable process that it should be.

Our goal at DFW 1% Listings is to make sure you have all of the information and resources you need to find your dream home, no matter how long it might take. You will never feel rushed or pressured into buying a home that doesn’t check all of your boxes when you work with our experienced real estate team. Give us a call to schedule your appointment today so we can get to work finding the home that is right for your family.

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