Are you thinking about or looking to buy a house in Katy, TX? If you are then you are well on your way to choosing an exciting city that is thriving and booming with growth.
Why Buy A House In Katy, TX?
It doesn’t take long for our clients to see why they should buy a house in Katy, TX! For starters there are three counties within the Katy, TX area. Harris County, which is considered to be apart of Houston (Greater Houston). Then there are Willis and Fort Bend counties.
Far Enough Away For Peaceful Living But Close Enough For Everything Else
Katy, TX is about a thirty-minute drive from Houston, so you can live near the big city but keep that small town living. There are plenty of transportation options to commute into Houston if needed. There are park and rides & HOV lanes offered in various places around the city.
Katy, TX offers a slower and more peaceful lifestyle then the hustle and bustle of Houston. Katy has breathtaking neighborhoods as well as master-planned communities. There is a home for everyone! Anyone can find a home within his or her budget in the city of Katy, TX. Homes can range anywhere from $200,000 to $2 million and Katy, TX is the ideal city for families.
Katy Has Top Schools & Gorgeous Communities
Katy ISD is one of the most sought after districts in the country. It is ranked one of the top school districts in the state and in the nation. Besides the excellent schools, Katy, TX is a beautiful city full of established bright green trees and plenty of green spaces and parks.
Perfect For Small Business
Katy, TX is very friendly to small businesses. There are many boutiques and family owned restaurant to shop around and eat in. Young professionals, families, and seniors alike will enjoy all that Katy has to offer.
The many small businesses make for tons of activities to take part in for families, young professionals, and seniors. In cooperation with local businesses the city host’s movie nights, summer nights, and ice cream socials which make networking a fun and friendly event. There are always fun activities taking place all around the city! Katy, TX also hosts Fourth of July festivals, Christmas parades, and Easter celebrations.
Ready To Buy A House In Katy, TX?
The first step to buying a house in Katy, TX is to find yourself an exceptional realtor that is local and based in Katy, TX. By choosing a local realtor in the beginning of your search you can bypass a lot of wasted time and hassle.
An experienced realtor will help you in the whole home buying process. From making offers on homes, negotiating contracts, to navigating the closing process, your realtor is there to work for you. Your realtor is a wealth of information when it comes to any service providers you may need, such as title companies, home inspectors, and service technicians.
A good realtor will ask you some basic questions to narrow down exactly what you are looking for and in what budget you can afford. This way you do not have to do all of the heavy lifting by conducting endless searches on homes in an area that you may not be familiar with. Your realtor will be better equipped to see if a home isn’t quite what it is being advertised as. Some photos online can make a home look absolutely stunning but once you see it in person it can be a nightmare.
With a local Katy realtor looking out for you and your best interests, they can go to the home ahead of time and check it out before wasting any of your time.
What Are Your Top 3 Homes For Sale In Katy?
The next step to buying a home in Katy, TX is to narrow down your choices to either two or three homes. Depending on the market conditions, local economy, and your financial situation, it is good to have a few options in mind.
With the current climate homes are selling fast in Katy, TX so it is a good idea to not put all of your eggs in one basket!
Be Prepared!
When shopping for homes make sure you have saved enough for a down payment. This way when you find the home you know you want to put an offer on you are ready and able to get moving.
VA Loans
VA loans do not require a down payment to be made but if you are able, any down payment made will help with saving money over the length of the loan.
Conventional Mortgages
Conventional mortgages may require as little as three percent down but can go as high as twenty percent. Conventional loans are not backed by the government, but follow the same guidelines.
FHA Loans
There are also FHA loans. FHA stands for Federal Housing Administration and requires three and a half percent down. The amount down with FHA loans does depend on your credit score. If you have a credit score of 580 or above then the three and a half percent will apply. If your credit score is between 500-579 then FHA loans require ten percent down. If your score is lower then that then the percent down will continue to go up and be higher.
Jumbo Loans
Finally, there are jumbo loans, which are typically used to purchase properties with large price tags going into the millions of dollars. Jumbo loans may require as low as ten percent down but depending on credit score and income it may be higher. These loans require a higher percentage down and better credit scores because they are not guaranteed by a government sponsored enterprise or GSE. Your realtor will go over with you which loan is the best option for you.
Cash
Cash is fast and sellers will always perk up when they hear the potential of a cash buyer.
Talk With A Realtor
Realtors are a wealth of information and can help clarify any questions you may have about the loan process. It also a good idea to go ahead and get pre-approved for a mortgage. This way when you are serious about putting in an offer for a home, the buyer will know you are able to make the purchase. This gives you a leg up on anyone else trying to purchase your dream home.
Having a realtor already picked out and on your side will also help tremendously during this process. Your realtor can swiftly get this information over to the buyer and their agent, quickly securing your offer. If Katy, TX sounds like the place for you then you are at the beginning of an exciting journey. Katy is full of amazing people, places, schools, and activities!
