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REAL ESTATE GUIDE FOR FIRST-TIME HOMEBUYERS

Perhaps you’re ready to take the exciting, albeit overwhelming, leap into homeownership in Austin County. Although the process can seem intimidating to first-time buyers, with the right guidance and preparation, navigating the housing market and embarking on this bold adventure toward home ownership can be a smooth and successful journey with help just a phone call away.

1 FINDING YOUR DREAM TEAM: REALTORS AND LENDERS

Your first step should be partnering with a skilled realtor who specializes in homes, neighborhoods, and rural areas of Austin County. Julia Wellmann, a realtor with Southern District Sotheby's International Realty, emphasizes the importance of this initial decision. 'Real estate terminology can be like 2 FIND A REALTOR WHO IS A GOOD FIT

a foreign language,' she says. 'Having an expert in your corner who understands the local market is crucial.'

Don't settle for the first realtor you meet. Interview several and take your time choosing someone with whom you feel comfortable communicating regularly.

“Don’t just go with your neighbor or friend’s cousin who happens to be a realtor: Make sure the person you pick is not only competent and qualified, but that the realtor knows your area, your market, and your needs. You’ll be spending months talking to this person: make sure she or he is the right match,” says Wellmann. “Also remember: A buyer needs to have a signed buyer’s representation form to ensure that your realtor is acting on your behalf and your best interest and not the interest of the seller and themselves.”

A good realtor will also connect you with a qualified lender who can help determine your budget and pre-approve you for a mortgage.

3 PRE-APPROVAL: THE KEY TO CONFIDENCE

Financial pre-approval is a vital step. Knowing your budget empowers you to focus on houses within your price range and strengthens your position as a buyer. It’s best to shop for lenders within a short time frame to minimize the impact on your credit score.

“Your realtor can help you find a lender and be sure you’re getting the best interest rate possible. The same goes for whenever you are shopping for homeowners’ insurance. Shop for your lenders all within a one-week time frame, or as soon as possible. Your credit report might get multiple hard inquiries when shopping for a lender, and you don’t want that to be spread out over time,” suggests Wellmann.

4 HITTING THE GROUND RUNNING: HOUSE HUNTING Once pre-approved, it's time for the fun part: house hunting. Your realtor will guide you through potential properties, pointing out crucial factors like floodplains and pipelines that could affect the home's value. Remember, no house will be perfect, but prioritize features that align with your long-term needs. The realtor should be not only a valuable resource about the house you’ve chosen but also about the community, neighborhood, schools, crime rates, tax rates, coming developments, association rules, traffic headaches or issues you may not have considered.

5 IMPORTANCE OF THOROUGH HOME INSPECTIONS

Don't underestimate the importance of hiring a skilled home inspector who will meticulously examine the property for a range of potential problems. With their expertise, they'll not only identify necessary repairs but can also advise you on the lifespan of major systems, empowering you to make informed decisions about this significant investment.

Austin County and surrounding areas are home to several licensed professionals including Roy Brashier of Brashier Home Inspections, Texas Certified Home Inspection, and SmartHome Home Inspection Services, to name a few. “The cost of a home inspection depends on the square footage of the structure, and our inspector will be at the property for about 2 to 2.5 hours,” according to inspector, Roy Brashier.

6 MORE THAN THE MORTGAGE

Your mortgage rate isn’t the only number you’ll need to consider when you find a house of interest. You’ll have to shop for homeowners’ insurance, flood insurance, property taxes, association fees, and more.

“Make sure and shop around for the best rates and coverage for quality homeowners’ insurance.

Get accurate quotes for the exact home you would be purchasing. I don’t want a family to finally get in a house and later find out it is much more expensive than they thought. Do your homework early.

Insurance and property taxes go up each year, so be mindful of those factors,” says Wellmann.

7

NEGOTIATIONS

AND CLOSING

Inspection reports may reveal issues requiring negotiation with the seller for repairs or a reduced price. Once an agreement is reached, an appraisal is ordered to ensure the property's value aligns with the sale price.

8

THE ROLE OF A TITLE COMPANY

IN THE PROCESS

The closing on a home purchase typically takes 30-45 days and involves signing documents with a title company.

Brenda W. Krchnak, branch manager and escrow officer from Botts Title explains, “A title company researches the ownership history of the property, ensuring you're buying from the rightful owner and that there are no outstanding liens or claims on the title. This protects your investment and gives you peace of mind as a new homeowner. The cost of a title policy is based on the value of the transaction, and rates are set by the Texas Department of Insurance so they’re the same at every title company. Service and experience are what sets title companies apart.”

Compare services offered by different title companies before making a decision. Don't hesitate to ask questions and ensure they clearly explain the process and any associated fees. With a qualified title company on your team, you can navigate the closing process smoothly and confidently step into your new home.

In Austin County, there are several reputable title companies home buyers can consider, including but not limited to Bellville Abstract Company, which also offers a long history of service in the area caters to both residential and commercial transactions and is highly rated.

YOU CAN DO THIS!

By following these tips and assembling a team of experienced professionals, you'll be well on your way to achieving your dream of homeownership in Austin County.