Find Affordable Austin Real Estate

The desire to keep up with the neighbors is universal, at least it is in my community. We see someone with a new car, a bigger TV, better home, and we wish we had those things. It is this financial envy that gets people into debt and even into bankruptcy or home foreclosure. US News Money offers a simple solution.  Change your priorities.

There are two key learning aspects here: First, frugality requires you to come to terms with what you have and evaluate the things you can afford…and be happy with that. So you should only buy a home you can afford, one you will be happy in, but not necessarily a home that is as large as that of your neighbors. Second, comparing yourself to others doesn’t bring anything positive to your life. If you must compare yourself then compare your life to those that are less well off than you. This will give you a sense of appreciation for what you do have. 

How Do I Choose Austin Real Estate I Can Afford?

Actually, according to Austin Business Journal, Austin real estate is already really affordable, coming in second, next to Dallas as being the most affordable in the state.

Still there are a few things you can do to ensure you really find that Austin home you can afford. 

      1- Save up

If you have a larger down payment you have room to negotiate on the Austin property you want. Sellers are more likely to take you seriously, and mortgage lenders can offer you better deals. 

2- Clean Up Your Credit

A few months before looking at homes, you want to check your credit. Make sure your score is as high as you can get it. Do this by paying off as much debt as you can. Keep one or two credit cards on hand, use these but pay them off on a monthly basis.

 

       3- Specify Your Needs to Your Austin Real Estate Broker

Make sure you explain to your broker exactly what you are looking for. Give her the exact budget you have to work with, and explain that you are most concerned with affordability. 

      4-   Get a Mortgage Pre-approval

If you shop for your mortgage first, before looking at homes, you know exactly how much of a home you can afford. You also have a specific budget and your real estate agent can help you find the home of your dreams faster. 

In the End

Finding the perfect home is about planning, timing and sticking to your budget. You want a home you can enjoy, not one you have to struggle to find the monthly payment for.