Myths can keep you from securing Home Ownership in Clear Lake and League City, Texas. Overcome the myths and be on your way to your new dream home!

Myths about Mortgages:

Mortgage Myth #1:  I had some debt when I was young and I ruined my credit.  I’ll never get a mortgage.

• You don’t know what your credit history shows until you look.  And if you do have blemished from the past, lenders will show you how to improve your credit and restore good credit practices on your part.

Mortgage Myth #2:  I heard that you need to put 25% down to buy a home.  But my friend says that you can get a mortgage with no down-payment at all!

• Both scenarios are uncommon.  Although there are a variety of financing programs available, most require you to put at least 3.5-10% down, but rarely would you need 25%.

   Myths about Agents

Agent Myth #1: If I have several agents looking for homes on my behalf, I’ll find a house more quickly.

• Like most relationships, this one thrives on communication, loyalty and trust.  By working exclusively with one agent you will improve both the process and the results.

Agent Myth#2:  If I want an agent to represent me as a buyer, I’ll have to pay them myself.

• Buyer representation means that the REALTOR you select works with your best interest in mind.  In most cases, however, they receive a portion of the commission paid by he seller.

Myths about Buying:

Buying Myth #1:  I should find a new home first before I sell the one I now own.

• If you find a buyer for your home first, you’ll have more negotiating power in both the sale of your current home and the purchase of a new one. 

Buying Myth #2:  I just made an offer on a house I love.  But so did several other people.  I’m worried that someone else will out bid me and get it.

• Different sellers are motivated by different things.  In addition to price, a seller will look at the other terms of the offer–contingencies, closing date, required repairs, etc.  Many times a “clean” offer from a pre-approved buyer will be more attractive, even if the price is slightly lower.

K.N.O.W. is Critical for First Time Home Buyers in Clear Lake and League City, Texas

Simple and critical at the same time!  Remembering this one simple word or four letter are instrumental in helping  first time  home buyers in Clear Lake and League City, Texas , save money and make wise decisions in their home buying process.

• We learned in a prior blog post that the letter “K” reminds you to know your buying power and price point. 
• Today, we will be visiting about the second powerful letter, “N”.

N=  Narrow the Clear Lake and League City area in which you are considering living:

Defining the area you want to live in Clear Lake or League City goes beyond just knowing the city you choose.  Narrowing your search to a specific area or neighborhood helps you and your REALTOR clearly focus on your wants, needs, and expectations.  It will not only save you time,  it could also help you not miss out on the perfect home that is was there waiting on you and you missed it  because you  did not get to explore the area enough since you were scattered looking in other areas that were not a fit for you and your family.  There are some important basic points to explore with links to assist you with your decision.

1. Consider your job location
2. School attendance zones
3. Shopping
4. Recreation possibilities
5. Medical center
6. Subdivisions
7. Homeowner Association
8. Churches
9. Metro Transportation
10. Never forget your price point

K.N.O.W. is Critical for First Time Home Buyers in Clear Lake and League City, Texas

• “K”: Know your buying power
• “N”: Narrow your area for searching

Stay tuned and read the next post  about the letter “O” . 

In the mean, if you are ready to start your home buying process, please contact me right away at 281-282-9524  and we will help you accomplish the first two steps of the word,  K.N.O.W.  This will automatically put you in position for the third action which will be: “O”.

http://clearlakeandleaguecityrealty.com/

Bringing you home to ”Celebrate the Moment”! 

It is vital for first time home buyers in the Clear Lake and League City, Texas, area to know how much house payment you can afford. It is even more critical to determine the amount of house payment you can comfortably spend each month for three very specific reasons.

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