Tips for Buying a Home in Corpus Christi, TX

When you’re ready to jump into homeownership, it’s important to consider a few things you should know about it. Start by figuring out what the benefits of buying a home in Corpus Christi, TX will be, and then figure out what you can afford. Here are a few of the best tips you will find for buying a home in Corpus Christi.

Save Your Down Payment Now

The longer you wait to start saving towards your down payment, the longer it will be before you can buy. Often, you need a large amount of cash down, even if you choose one of the home loan programs allowing 3% or 5% down. Even 3% of a $200K home is $6,000. If you start saving now, you’ll have a better chance of reaching your savings goal sooner.

Put 20% Down, if Possible

If you have the ability to put 20% down when buying a home, you should. When you put 20% down, you’ll avoid paying private mortgage insurance, which does nothing to protect you. It protects the lender and should be avoided, if at all possible.

You can save more to put 20% down or you can buy a less expensive home. A $300K home would mean you need $60K down to reach 20%, but a $15K home is only half that. Consider the price of the home and your down payment before you start shopping so that you will have accurate numbers to work within your budget.

Timing the Market isn’t a Good Strategy

As a buyer, you want to buy when you want to buy. Timing the market often backfires on people because the best time to buy a home in Corpus Christi is when you’re ready to buy; not when the market swings in favor of buyers.

Even in a seller’s market, you can find good deals and great homes out there. When you find the right house for you, it’s time to buy and you should buy, regardless of the market. Of course, that’s assuming you’re getting a deal you’re happy with on the home of your dreams.

A Bigger House May not be Better

While we are taught bigger is better and it is, in some cases, it’s not always better. Buying a home in Corpus Christi is a huge investment and buying a bigger home doesn’t mean you’re making a better investment.

Bigger homes often end up appreciating at a slower rate because the homes around them are smaller. In addition, they require more work to clean and maintain. You may be able to get a better home, if you go smaller, as well.

Be Aware of Sleeper Costs

Home buying comes with several costs you may not have considered. Yes, you will have a monthly mortgage payment and homeowner’s insurance in Corpus Christi. You will also have higher utilities (in most cases), property taxes, homeowner-association dues, and maintenance. Make sure your account for all the costs in your budget before deciding on the home you want to make an offer on.

Consider After Move-In Expenses

Are you really going to want to use the furniture set you picked up at a garage sale for your apartment in your new home? Most homebuyers will want new furnishings with their new home. In addition, you should never decide not to buy a home because a piece of furniture you own may not fit into it well.

Set inside some money for the expenses of furnishing your home after you buy it. You may want all new furniture or you may just need to add to your current collection because you have more space to fill.

Know the Neighborhood

You’re not just buying a home in Corpus Christi; you’re also buying a neighborhood. Before you commit to buy, stalk the neighborhood and find out what you’re really getting into. Map the closest grocery store, you’re route to work every day and check out the neighborhood during the morning, afternoon and night.

It would be a shame to find the perfect home and think it’s an easy commute, but it’s really not. In addition, some neighborhoods look far different and feel far different during the day than at night.

When you’re getting ready to buy a home in Corpus Christi, TX, you want to make sure you’re prepared. Along with these helpful tips, you should hire a good, local real estate agent to assist you throughout the process. With the right agent leading you through the home buying process, you’ll be protected and informed every step of the way.