A home in the Rio Grande Valley is not just a financial investment. Your very first home is where your dreams meet reality. And to make this reality sweeter, there are a few things a first time homebuyer in Rio Grande valley must consider. Mortgage, closing costs, and room for home improvements are the common concerns along with the listed price of a house.
Whether you build a new house or buy an existing one in the Valley, take a deep breath and mull over a few things.
1. Are you ready for a new home?
You move into a new location. A portion of your earnings goes towards purchase and maintenance of this residence. And you spend a great many number of years within its walls. Is it worth it?
2. How much does the house cost? Can you meet the expenses?
Take a close look at your financial position. Do you have a steady day job? Are you willing to give up on a few comforts until you have the house? These are a few questions every first-time home buyer grapples with. Remember, housing costs do escalate.
3. How much of your salary goes into paying off your debts?
How much mortgage can you afford? Finding a mortgage that’s within reach can be a challenge. Experts say that if you earn $100, you are better off paying around $30 dollars as a loan. Anything higher is unsustainable. But you must make sure you’re getting your money’s worth with those $30.
4. What are your needs?
The types of neighborhood, local regulations, and the general atmosphere have some degree of impact on your living. Small things like mowing your own lawn yourself might seem like a chore to you but others might find it a pleasant pastime. So make an effort to know the people and the places before you make a choice.
It is easy to be snowed under with all the preparations. That’s why connecting with professional real estate groups could be of help. At Hosanna Construction we take the trouble out of house hunting so you can get the best out of a deal.
Here’s how we help a first time home buyer in Rio Grande Valley:
1. Real estate agent
We will connect you with reliable brokers. The agent will help you narrow down your needs and calculate the costs of ownership. Next they will share the details of important properties. They will help you look at the pros and cons of each property you visit. Our focus is simple: to get you your first home at the best possible price.
Our agents have spent years in the industry to know how it works and use this knowledge to your benefit.
2. Real estate lawyer
We have worked with trusted real estate lawyers who can detangle legal jargon. While hiring their services might set you back by a few hundred dollars, it is justified too. No one wants to deal with messy property disputes later. Those cost a lot more and waste a lot of time.
Real estate lawyers working with us can give you a comprehensive idea of the legalities involved in the buying process.
3. Bare necessities
We assist clients in identifying their needs and prioritizing them over luxuries. For example, a fully functional HVAC is slightly more necessary than a walk-in closet for some buyers. Since it is easy to get lost in the details, we help you see what you really need as well as what you want in the house.
4. Property inspection:
Have the property well inspected for rot and damage. A thorough check is best performed before purchase so that you are not burdened with chronic repairs. Leaky roofs, mold, faulty plumbing, defective wires, inefficient fixtures, or a bad case of mold can throw daily life off gear.
We would love to share recommendations about local property inspections with you.
We simplify the paperwork involved. After you have read through and assented to the proposals, we present it to the seller. And although they might counter it, we highlight the strongest points of your bid.
6. The Final walkthrough
We do the final walkthrough together, if you like, and make sure that all the terms of the final deal are met.
Hosanna Construction is there with you every step of the way – from the first look of the property to the final handing over of the keys. Get in touch with us today to ease the home buying process for the first time home buyer in the Rio Grande Valley.