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Serving Southlake, TX

Factors to Consider When Buying a Home

Buying a home is a major decision. Getting a property that meets all of your needs takes careful consideration. Working with a Southlake realtor can help make the process of buying a home more straightforward as you weigh your budget, desired home characteristics, and future plans. Your realtor can help you find your fit in the community, but you should be sure to arm your realtor with your specifications to make shopping easier. As you house hunt in Southlake and beyond, here are some factors to consider.

buying a home in southlake

Budget

Most experts recommend that you don't spend any more than one-third of your gross income on housing costs. Those costs don't just include your mortgage. You also have to cover things like homeowners insurance, HOA fees, utilities, and maintenance costs. When you buy a house, you'll also have additional upfront costs, including a down payment of about 20 percent and closing costs. Tell your realtor your budget so you don't waste time shopping out of your price range.

Location

What are your priorities when it comes to location? Do you crave the privacy of living on the outskirts of town, or do you want to be in the center of the hustle and bustle? Your realtor can narrow down your neighborhood searches accordingly. Be sure to check out the amenities in each area you're considering, including proximity to the places you'll need to go regularly, like grocery stores and gas stations. Check out any neighborhood you're considering during the day as well as at night so you get a true read on the dynamics of the community.

Size

Look for a home that suits your needs now and in the future. For instance, if you're single but plan to get married and start a family within the next few years, buy a home that can grow with you. On the other hand, if your kids are all about to leave the nest, you may want a smaller property with less demanding upkeep.