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Buying a home? Make sure it’s the right investment

On Behalf of | Jul 23, 2020 | Real Estate Transactions

Buying a home is one of the biggest investments that many people in Texas will ever make. But houses are more than just a financial investment, they are also an investment in future family memories and security. To be certain that a dream house appropriately meets both financial and familial needs, keep some of the following in mind before buying a home.

Making an offer on a home is a surprisingly personal process. While a buyer should always consider how much a house is listed for, it’s also important to consider listing prices for comparable houses in the same area. This will help a buyer feel confident that he or she is making an appropriate offer. But perhaps most importantly is whether a buyer can feasibly afford his or her offered price. It might be helpful to decide on a comfortable price range before starting the homebuying process.

Understanding the condition of the home is also an important factor. This means asking questions about the roof, foundation and appliances. Roofs can last anywhere from 15 to 50 years, so buying a home with an older roof means committing to replacing it in the near future. The age and state of appliances is also good information to have on hand. Newer appliances mean less immediate repair costs, whereas some appliances might be too old to be repaired.

Making a reasonable offer for a home that is in acceptable condition to a buyer can be trickier than it seems. Some buyers might even feel compelled to accept the seller’s first counter offer out of fear of losing out on the house. But a buyer does not have to navigate Texas real estate law on his or her own when buying a home, as seeking guidance from an experienced attorney can make the process easier.