Frequently Asked Questions By First-Time Home Buyers, Answered
The biggest financial investment you’ll make in your lifetime is buying a house. It makes sense, then, that this is also one of the most stressful investments you’ll ever make.
It’s important to do your homework, put in the research, and ask the right questions so you can be sure to buy a house you love on the first try. The last thing you want, after all, is to be stuck with a property you regret buying. And getting rid of a house is a lot harder than getting rid of a used car.
To help you on your house hunting journey, we’ve collected some of the most frequently asked questions first-time home buyers ask and answered them.
- Is it better for me to buy instead of rent? There are benefits to owning a home rather than renting an apartment such as tax breaks, financial gains, appreciation in value, and equity. You’re also able to have greater freedom in terms of decorating and owning pets. If you’ve been living in an area for many years and you have no intention of leaving any time soon, it may be a good idea to buy a house rather than rent.
- How do I know if I’m ready to buy a house? There’s more that goes into buying a new house than just having enough for a down payment, which is 5% of a home’s value on average. You may be ready to buy a house if you have a steady job (you’ve been employed for two to three years), you have a reliable income, you have positive bill-paying history, you have few long-term debts, and you can afford to pay a mortgage along with utilities, insurance, and taxes.
- What are homeowner’s tax benefits? Unlike renters, homeowners receive capital gains benefits, mortgage interest deductions, real estate tax deductions, and loan discount points.
Where can I find new construction homes in Fort Worth?
One of the biggest challenges of buying a new home is making the decision to buy one. New construction homes in Fort Worth, Dallas, or Houston can help to save you time and money on potential renovations because everything is new and up-to-date.
If you’re looking for new construction homes in Fort Worth, Dallas, or Houston, Camden Homes has the newly built homes you’re looking for. To view our model homes, purchase a home, or to learn more about our newly built homes in Fort Worth, contact Camden Homes today.