Common Things to Look Out for Before Buying Your Dream Home

It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.

It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.

1. Why am I Buying a Home?

Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.

2. What is the Trend with Home Values?

Our current economy and housing market is strong. That means home values and mortgage rates are increasing. If you are looking to purchase a home but want to stay within a budget, it may be in your best interest to move quickly. It is forecasted for these trends to continue in an upward motion, causing home values to continue to increase.

3. What About Current Mortgage Rates?

The ticket price is not the only thing you should be concerned with when purchasing a home. Mortgage rates are always changing and can have a huge impact on your monthly payments. Current trends show mortgage rates are rising. This is something to consider if you are debating the right time to purchase a home, since the rates may be even higher down the road.

Bottom Line

You and your family are the only ones who can determine the right time to purchase your dream home. It is important to decide exactly why you want a new home for your family and decide on a budget that will be comfortable moving forward. This budget may affect the amount of time you have to search for a home, since home prices and mortgage rates are increasing. 

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Carnell Webb

I am a Tulsa, Oklahoma native, but I’ve lived in Dallas for well over 20 years.

I have been in the business since 2013 and am a former Verizon Senior Business Sales Executive, educated in Computer Information Systems.

I’m a full-time real estate agent headquartered in the Aubrey, Texas, area of North Texas, providing service in Denton and surrounding counties – specializing in Residential sales. 

Stacey Booth

Stacey was born and raised near South Padre Island, Texas. She has been married to Bobby Booth for 30 years and has two daughters, Allyson and Amanda. Allyson recently married Konner Miller in February and Amanda will be headed to the University of Arkansas, Fall 2022.

She was an Office Manager for Woolam Gin for 10 years and graduated with a bachelor’s degree in Kinesiology. She taught 2nd grade for 7 years before moving to Mena, Arkansas to open Black Bear Cabin Rentals in 2012. The best part of building a business from the ground up like Black Bear Cabins, was seeing it go from a concept to a thriving business. Her favorite part of the job was making connections with all of her customers.

The reason Stacey got into real estate is because she has always loved helping people and what better way to help people than to find the perfect place to call home. After selling Black Bear Cabins in 2020, she considered doing it then, but still had one of her daughters at home. Since her youngest daughter will be starting college in the fall, she knew this was the perfect time to start her new career. She has always loved the one-on-one personal contacts she has made with people, whether it was with her customers, students, or parents.

Her goal is to work hard for her clients whether it is through the purchase a new home or the sale of a current home. Her number one priority is to provide an experience where the customer feels valued and well taken care of.

Kristen Lewis

I was born and raised in Dallas and have lived in Cedar Hill for 15 years. I have been married to my high school sweetheart for 15 years, and we have 3 beautiful children ages 7, 9 & 11.  

 

I have been in the multi-family industry for 16 years where I’ve had several roles. I started as a construction admin, and then moved to an Assistant Business Manager/ Business Manager Onsite. I am currently a Cost Accountant for all new construction in the Dallas/Fort Worth area. 

 

I am excited to switch gears toward my own business in Real Estate, where I will focus in the Cedar Hill, Midlothian, Waxahachie and surrounding areas. 

 

I just started my journey into Real Estate in November 2021, and I am excited to begin!

Shawna Martinez

Real estate is in my DNA! Second generation Realtor born and raised in North Texas. We know that no two clients are the same, so why work with someone who treats you that way? 

We offer concierge next level customer service. Do you need movers? We can help with that! Do you need your yard maintained? We can take care of that too! Maybe you need accommodations for your fur babies… or real babies…. we understand your needs are unique. 

We pride ourselves in building a relationship over a transaction, so whatever your needs are, we can help! Whether you are buying for your primary residence, second home, or investment property our team of experts will provide you with the most phenomenal customer service! Don’t get trapped in the ‘one size fits all’ Ferris Wheel of real estate. It truly matters who you choose to work with!