If you happen to be in the market for residential real estate, there are a number of questions to ask yourself. These considerations can be broken down into two main categories: financial and amenities.
As far as the finances are concerned, you need to make sure you are shopping in a reasonable price range. Most economic advisors (as well as lenders) suggest that your mortgage should not consume more than 1/3 of your monthly income. And lowering your house payments to approximately 25% of your income is an even better idea. Shopping within the right price range will be important for both your down payment, monthly payments, commission fees and closing costs. There are other necessary financial costs that you may not have considered, such as property taxes and utility costs. Be sure to ask your Realtor for an accurate summary of these costs as well. These considerations aren’t meant to deter you from buying a new home. Rather these are guidelines to make sure your new home is a good fit.
Once you are shopping in the right price range, its time to consider your amenity preferences. These will vary from buyer to buyer, but there are some broad categories you should consider. For example, how large of a garage do you need? Will guests be visiting often? How far will your commute be? What sort of services are in your general vicinity? And how much square footage do you need? Don’t forget to consider your immediate surroundings. Is your home near an airport or a railroad? Are your neighbors in the same stage of life as you? Do you want to be able to walk to a park, school or grocery store? By asking yourself these questions, choosing the right Austin home will be that much easier and enjoyable!
Our website is one of the top destinations in the Austin area to learn more about commercial, office, and retail property, but some of you have asked me for a good resource to search online for residential real estate such as homes and condos. I would like to recommend the website, www.AustinHomeListings.com. The owner of the site is Michael Reilly of Reilly REALTORS, a residential brokerage that serves the Austin area. We’ve done business together (I helped him with his new office in the Hill Country Galleria) and after working with Michael, I can tell you he is extremely knowledgeable about the residential market. He’s a strong negotiator with tons of experience and works hard to protect his clients’ interests with his keen understanding of residential contracts. So, if you are looking for commercial real estate, give me a call, but if you are in the market for a home and want to search Austin homes for sale give Michael a call – I know he will take good care of you!
