The Agency Real Estate Luxury Advisors, Christine White and Kathleen Magat, offer advice on how to buy a house.
By: The Agency Austin
The home-buying journey is thrilling, but it can also be overwhelming – especially in a competitive and fast-paced market like Austin. Whether you’re a first-time buyer or looking to upgrade, understanding the key steps can make all the difference in securing your ideal home within your price range. To help guide you through the process, The Agency Real Estate Luxury Advisors, Christine White and Kathleen Magat, offer their top seven tips for homebuyers.
Photo courtesy of Jordan Magat
1. Get Pre-Approved for a Mortgage First
“Before you even start browsing listings or booking showings, it’s important to get pre-approved for a mortgage. This gives you a clear idea of what you can afford and shows sellers that you’re serious when you’re ready to make an offer,” says White.
In Austin’s competitive market, having a mortgage pre-approval in hand gives you a significant edge over other buyers. It not only speeds up the process but also strengthens your position, especially if you’re bidding against other interested parties.
2. Take Advantage of Lower Interest Rates
Timing is everything. If interest rates are trending downward, it’s the perfect opportunity to lock in a lower rate.
“Lower rates mean lower monthly payments, allowing you to afford more home for your budget,” says Magat. Speaking with a mortgage advisor can help ensure you secure the best rate possible.
In Austin’s dynamic market, acting quickly when interest rates drop can give you more purchasing power without overextending your budget.
3. Negotiate Beyond the Sale Price
Many buyers are laser-focused on the sale price, but savvy buyers know there are plenty of other negotiable items.
“You can ask for closing cost assistance, home warranties, repairs or even appliances and furniture that the seller might be willing to include,” explains White.
A skilled real estate agent will guide you through these negotiations, helping you get more value from the purchase and potentially saving you thousands in the process.
4. Consider Additional Costs
It’s easy to be excited about finding your dream home, but don’t forget about the ongoing costs of homeownership
“Beyond your mortgage, you need to budget for property taxes, homeowners insurance, HOA fees and general maintenance and repairs,” suggests White.
Factoring in these costs will ensure you aren’t caught off guard and help you maintain financial stability once you’ve settled in.
Photo courtesy of Daniel Nguyen
5. Research the Neighborhood
Your dream home isn’t just about the house — it’s about the community you’ll be joining.
“Austin has a wide variety of neighborhoods, each with its own unique vibe. Whether proximity to work, great schools or access to parks and shops is a priority, make sure the neighborhood aligns with your lifestyle and future plans,” says Magat.
Doing your homework on Austin’s diverse neighborhoods will help you find the right fit for your long-term happiness.
6. Get a Thorough Home Inspection
A home may look perfect at first glance, but there could be hidden issues beneath the surface.
“A thorough home inspection is essential, and it will give you peace of mind knowing you’re making a sound investment,” advises White.
If any major issues arise during the inspection, you can address them with the seller before closing, ensuring you avoid unexpected repair costs down the road.
7. Plan for the Future
“Buying a home is a long-term commitment, so it’s important to think ahead. Consider whether the home you’re eyeing will accommodate your needs as they change,” says Magat
Whether you plan on expanding your family, working from home or entertaining, think about how your lifestyle may evolve and whether the home can grow with you.
Final Thoughts
Buying a home in Austin is an exciting venture, and careful planning and expert guidance are key to navigating the market successfully. By following these seven tips, you’ll be well-equipped to find and secure the home of your dreams in one of the most desirable cities in Texas.
With expert advice from agents like Christine White and Kathleen Magat at The Agency Austin, you’ll have the confidence and knowledge needed to make your home-buying journey as smooth as possible. For more tips or assistance locating your dream home go to www.theagencyatx.com.