First Time Buyers

Is the Timing Right?

When you think about homeownership, do you wonder if now is the time to buy your first Kerrville home? Homeownership is a big decision that requires careful thought from anyone- especially a first-time buyer. Here are a few indicators that can help you decide if the timing is right for you.

mortgage:A contract that represents the debt owed by the borrower to the lender for the money borrowed to purchase a property.

closing:The final, legal act of a transaction, where contracts are agreed upon and finalized, and monies are exchanged.

First Time Buyer Basics

Often, first-time buyers will call agents with a seemingly simple question: “How do I begin the process of buying a home in Kerrville?” Because they aren’t certain where to begin, they need guidance to turn their dreams of homeownership into reality. 

closing:The final, legal act of a transaction, where contracts are agreed upon and finalized, and monies are exchanged.

Renting vs. Owning

In many regions of the United States (including right here in the Texas Hill Country!), owning a home can be just as affordable as renting...sometimes even saving you money in the long run. And although buying may not be right for everyone, the advantages to owning a home can be eye-opening.

mortgage:A contract that represents the debt owed by the borrower to the lender for the money borrowed to purchase a property.

equity:The difference between the value of a property and the amount still owed on the property.

Home Buying Timeline

Naturally, the first step in home buying is deciding that the time is right, both financially and situationally. If you’ve reached this exciting conclusion, read on! We’ve created a general outline of the steps involved to begin the home buying process.

pre-approval:An assessment given by the lender that investigates the borrower

mortgage:A contract that represents the debt owed by the borrower to the lender for the money borrowed to purchase a property.

insurance:Protection against specified hazards by a company that a party pays a premium to.

closing:The final, legal act of a transaction, where contracts are agreed upon and finalized, and monies are exchanged.