Wish I Knew Before Buying My First House

As a seasoned Real Estate Agent and homeowner in Austin, I've witnessed the highs, the lows, and everything in between. Now I'm here to share with you my best tips when purchasing your first home. Reflecting on my own experience and those of my clients, there are a few key insights I wish I had known, and I'm spilling all the tea.

Location, Location, Location

When buying a house, location is everything. If you're new to Austin, try to take your time driving through the different tapestry of neighborhoods so you can narrow down your favorite communities. Consider factors like commute times, school districts, and neighborhood amenities. Do you like living the urban lifestyle and being within walking distance of a good coffee shop? Explore neighborhoods like Travis Heights, Clarksville, or Mueller. If you live an active lifestyle or enjoy lake activities I would explore Lake Travis. Take time to explore different neighborhoods and envision yourself living there before making a decision.

Get Pre-Approved for a Mortgage

Trust me, nothing kills the excitement of finding your dream home like realizing you can't afford it. Getting pre-approved for a mortgage not only gives you a clear understanding of your purchasing power but it is also nice to have in your back pocket so you can move fast once your perfect home becomes available. Rates are constantly changing, and with that so does your buying power. This is an important first step that can help streamline the buying process.

Think Beyond the Present

Think long-term and consider how your needs may evolve over time. Are you planning to expand your family? Will you require additional space for a home office or baby room? How long ideally do you plan to stay in this home?

Understand the Costs of Owning a Home

Outside of the purchase price of the home, make sure you don't overlook the additional costs that come with homeownership. From property taxes to maintenance and sneaky utility bills, expenses can add up quickly. Take the time to factor in these extra costs when determining your budget to avoid any surprises down the road.

Compare New Construction vs Resale Home Options

For a first-time homebuyer, purchasing a new construction home offers the advantage of modern amenities, energy-efficient systems, and contemporary designs. Additionally, new homes typically require less immediate maintenance and come with warranties. New construction can be more expensive, and the timeline for completion may delay your move-in if you decide to build from the ground up. However, purchasing an inventory home that's near completion or already built often comes with competitive incentives from builders such as lower sales prices, paid closing costs, and competitive interest rates. If choosing a new construction home take into consideration how long the neighborhood plans to build. In the event you need to sell you will always be up against new construction homes. Give yourself enough time to build equity and for the neighborhood to develop, so you can make the most out of your sale.

A resale home often offers more established neighborhoods, mature landscaping, and potentially lower upfront costs. It's also highly likely you can negotiate for appliances to convey, and the home can have upgrades such as window treatments, smart home devices, and features that builders may not offer. An established neighborhood likely also has shopping centers, restaurants, and grocery stores conveniently nearby. Resale homes can be older, and may require renovations and updates, and maintenance costs could be higher due to the home's age.

Remember, your first home is more than a place to live, it's the cornerstone of new memories and experiences in Austin. Whether you are scrolling TikTok, reading my blog, or working with me as your Real Estate Agent, stay up to date on local real estate news so your journey towards home ownership is a smooth and pleasurable experience!