First Time Buyer Basics

Often, first-time buyers will call agents with a seemingly simple question: “How do I begin the process of buying a home in the Hill Country?” Because they aren’t certain where to begin, they need guidance to turn their dreams of homeownership into reality. At Keller Williams, our agents have plenty of experience walking buyers through this process and can be a perfect guide to help first-timers navigate through the following questions:

“Where do I begin?”

The very first thing a REALTOR® will likely suggest is that first-time buyers talk with a lender. This conversation should allow for insight regarding a couple of things:

1. Is the buyer financially ready for a home loan?

2. Do they qualify for a loan?

3. How much do they qualify for?

All of these questions must be answered before proceeding with the purchase of a home.

“What are my options?”

Once the buyer has qualified for a loan and been given a realistic price range, they can begin looking at available Texas Hill Country real estate, from farm and ranch to lake homes for sale. But before setting foot in an open house, they should be aware of the different housing options available. The two most common options available are single-family homes and condominiums. Whereas single-family homes (the most popular option) are stand-alone homes that vary in size, age, and price, condominiums are single-unit homes within a larger, multi-unit property. Condominiums are often associated with other types of low-maintenance living spaces like apartments. Typically, both require an HOA that manages and maintains the property.

“Where should I live?”

While most buyers have an idea of where they want to live, some may have to compromise on location due to lack of availability of homes, unaffordable prices, or any other factor. If, as a buyer, you aren’t sure where you should live, ask yourself the following questions: How long am I willing to commute to work? How close are shopping, dining, entertainment, churches, and amenities? How comfortable do I feel in the neighborhood? What is the quality of area schools? Am I interested in a conventional neighborhood, or should I look for lakefront property in Texas? Answer these questions, then prioritize what is most important to you. This will help narrow down an area in the Hill Country that will match your needs and wants as a buyer.

“What now?”

Once the buyer has set their price range, considered their home preferences, and settled on a location, it is time to begin! The buying process will consist of looking at available homes, putting an offer on a home, and going through the closing steps. For a more detailed look at the home buying process, check out our Home Buying Timeline!

We know that buying a Hill Country home for the first time can be equally thrilling and nerve-racking! The learning curve can be overwhelming, and it may be difficult to know exactly what to expect. There are many loan programs out there for first-time home buyers, giving peace of mind to the financial aspect of buying your first home. And when it comes to finding a home and the buying process, the experienced REALTOR®S at KW are here to make sure your entire experience goes smoothly.

closing:The final, legal act of a transaction, where contracts are agreed upon and finalized, and monies are exchanged.