Determining A Price Range

      If you are working with a Realtor to find a new home, the agent will probably ask a lot of questions about your income, liquid assets, and debt situation. The Realtor needs such information to help you determine your price range.
      Whether you are buying your first home in Waco or moving up, your Realtor can give you solid advice on how to maximize your buying power. With so many mortgage alternatives available, you may find that you can buy more than you thought. Your individual situation might make some types of mortgages or financing more of a risk than you really want to take. Each buyer's situation is unique, and Realtors understand the importance of finding you the perfect home and the perfect financing to enable you to afford it.

      It may seem like "the impossible dream" to first-time buyers who have to stretch in order to purchase their first home. Many younger buyers can afford the monthly mortgage payments, but they may have to get creative to cover the down payment and closing costs.
      If your funds are limited, there may be possibilities you have not considered, such as local or federal loan programs that can get you moved into your new home. Sellers are sometimes willing to extend a small loan to help cover closing costs in order to complete the sale.
      You should also consider the many housing options available. If you aren't sure that you can afford a single-family home, there are beautiful condominiums and townhouses with amenities and prices that are designed to appeal to first-time buyers.

      There are a lot of "diamonds in the rough" for sale. Such a "diamond" may be in a great location, have large sunny rooms and a big yard, but may also have awful wallpaper, old carpeting, and uninspired bathrooms. If you can look beyond the surface, you may see a house with incredible potential that could be transformed by a little "elbow grease", paint, and new carpets. If a house is structurally sound and all the systems are in good condition, it may be only a few cosmetic repairs away from being fantastic! A home that does not show well is usually priced accordingly. If the price doesn't reflect the condition of the house, the seller may be more willing to negotiate than a seller who has made a considerable investment in preparing a home for the market.
      So bring your imagination with you on your next house-hunting trip! You may be pleasantly surprised.