{"id":12368,"date":"2023-10-11T11:58:01","date_gmt":"2023-10-11T16:58:01","guid":{"rendered":"https:\/\/listwithclever.com\/8-steps-to-buying-a-house-in-texas\/"},"modified":"2023-10-23T08:57:30","modified_gmt":"2023-10-23T13:57:30","slug":"8-steps-to-buying-a-house-in-texas","status":"publish","type":"post","link":"https:\/\/listwithclever.com\/real-estate-blog\/8-steps-to-buying-a-house-in-texas\/","title":{"rendered":"Buying a House in Texas in 8 Easy Steps"},"content":{"rendered":"\n
\u270d\ufe0f <\/em>Editor's note:<\/em><\/strong> We strive to provide objective, independent advice. When you decide to use a product or service we link to, we may earn a commission. <\/em>Learn more.<\/em><\/a><\/p>\n\n\n Buying a house in Texas can be both an exciting and confusing process, especially for first-time home buyers. Our guide breaks down the process in eight steps, with insights and practical tips to help you navigate the Lone Star State's competitive market.<\/p>\n\n\n Step 1: Save for a down payment. \u00bb<\/a> <\/strong>Most mortgage lenders in Texas want you to contribute 20% of the purchase price as a down payment. But with the typical home costing $296,127, that can add up quickly. Buyers in Texas have access to state programs or federal loans that can help cover (or reduce) the down payment cost.<\/p>\n\n\n Step 2: Find an agent. \u00bb<\/a> <\/strong>Your real estate agent is your ally in the home buying process. Take time to interview multiple agents to find the best fit. Top agents have insider knowledge about specific neighborhoods and are excellent communicators.<\/p>\n\n\n Step 3: Get preapproved and maintain your credit score. \u00bb<\/a> <\/strong>Preapproval determines your budget. But if your credit drops, it could complicate (or derail) the closing process. While you house hunt, pay your cards on time and avoid opening or closing new credit accounts.<\/p>\n\n\n Step 4: Find a location. \u00bb<\/a> <\/strong>As you search for a new place to live, check that local amenities like parks, shops, and restaurants support your lifestyle. You might also want to look at housing price trends: rising values in the area are a good sign that your new home will appreciate, too.<\/p>\n\n\n Step 5: Go house hunting. \u00bb<\/a> <\/strong>As housing prices continue to increase, finding a house that fits your budget and checks all your boxes might be challenging. An experienced agent can help target homes that meet your must-haves while staying within budget.<\/p>\n\n\n Step 6: Make an offer. \u00bb<\/a> <\/strong>Heed your realtor\u2019s advice when crafting an offer. Your agent knows the local area and can guide you in writing a competitive offer that wins the house while meeting your budget.<\/p>\n\n\n Step 7: Get an inspection and appraisal. \u00bb<\/a> <\/strong>You need to hire an appraiser to determine how much the house is currently worth \u2014 and an inspector to assess the home\u2019s condition and spot any unexpected or unseen issues.<\/p>\n\n\n Step 8: Close. \u00bb<\/a> <\/strong>A final walk-through helps ensure that the house is in the same condition as when you made the offer before you close on your new home. You also need to finalize the paperwork for the sale and complete the forms from escrow.<\/p>\n\n\n <\/div><\/div>\n\n\n \ud83d\udc4b If you're weighing your options to buy a house, Clever's fully licensed Concierge Team is standing by to answer questions and provide free, objective advice on how to get the best outcome. Get free advice from a licensed expert today \u2014 no obligations!<\/a><\/p>\n\n\n Your down payment is the first part of your home's purchase price that you pay at closing. Your mortgage lender pays the remaining balance.<\/p>\n\n\n A down payment can be up to 20% of the home's final purchase price. In Texas, that could mean paying up to $59,225 for a $296,127 home.<\/p>\n\n\n If you put less money down, your lender will typically require you to get private mortgage insurance (PMI) on the loan. That can save you money up front but increase your monthly payment and total interest costs over the life of the loan.<\/p>\n\n\n However, if you can't afford to put that much down at closing, or want to hold onto more of your cash to cover other home-buying expenses, some government-backed loans have lower down payment mortgage options.<\/p>\n\n\nKey steps to buying a house in Texas<\/h3>
Step 1: Save for a down payment<\/h2>\n\n\n