4 Things Need to Know Before Buying a Magnolia TX Home
Buying a Magnolia TX home, especially if for the first time, requires a large investment of both your money and your time, for the experience can be complex and sometimes even intimidating. Depending on professional advice and knowing the right questions to ask, however, will expedite the process, boost your confidence, and help you make a wise decision.
Before you begin to ask questions, you need to check your credit score, analyze your finances, obtain mortgage pre-approval, and find a Realtor who is very familiar with and an expert on the precise neighborhoods that interest you.
Then you may want to ask the following questions:
1. Where do I want to live—and why? Think about your lifestyle and what is important to you. Investigate the schools, nearby amenities, house prices, commuting time, public transportation. Ask about future plans for a neighborhood and talk to current residents about virtues/problems of the area. Spend some real time (at various times of the day) in the neighborhood you’re considering. Remember that while you can change paint color or appliances, the location of your home will remain the same,
2. What will my monthly expenses be? In addition to the principal and interest on the loan, you should also be aware of—and prepared for—
- Property insurance (do you need flood and/or mortgage insurance, too?)
- HOA fees
- Landscaping costs
- Repairs and/or maintenance
3. Are all facts/figures on the listing accurate? Do not take the information contained in the listing as absolute truth. Make sure your agent double checks these facts directly with the source, like HOA offices, county tax pages, and the like. Your Realtor should also check comparable prices in the area—active, pending, and sold (Comparative Market Analysis).
4. Have there been any past issues with this house? It’s against the law to fraudulently conceal any major problems in your home, so ask the seller for a full disclosure of problems, both past and present. Asking a seller to disclose material facts means you’re asking him/her to disclose anything about the house that might be problematic. While you can’t always force someone to sign a disclosure (depending on the laws in the state), you do have the right to leave any deal because of undisclosed (and known) problems.
Whether you are new to the Magnolia Texas real estate market, thinking of moving up, or you’re an experienced investor, Pam Sitterly has the expertise, proven track record, and resources to help you buy Magnolia TX real estate for sale or market Magnolia TX homes for sale. Enthusiasm, knowledge of the area and personal concern for her client’s interests combine to make Pam an outstanding resource for your real estate transactions.
Pam works extensively to help Buyers and Sellers meet their Magnolia Texas real estate goals. For more information about buying or selling your Magnolia TX home, please call Pam at 281-723-0324 or via email with this convenient contact form.