When it comes to real estate, experience and expertise matter. CR Elite Realty is a real estate company that specializes in selling, buying, and renting luxury real estate in the Houston/Dallas area for individuals who want to live like royalty.
We offer all our clients a premium level of service, whether they’re looking to buy or sell their homes. We take pride in the local knowledge and global partnerships that we’ve formed over the years.
Our team of experts is committed to achieving your goals by mastering each step of the transaction with passion, enthusiasm, and meticulous attention to detail. We combine the power of local knowledge with innovative technology to exceed expectations.
Join us on this journey of discovery; our energetic team will ensure you experience every moment with elevated pleasure
We help you find the right homebuyer program that meets your needs and enables you to purchase a home.
Use our mortgage calculator to guide your budget when it comes to home purchasing.
Purchasing a property is an important transaction and probably the largest financial decision you will ever make. Having a clear sense of your reasons for buying will help you choose the right property.
Before contacting a real estate agent, get pre-approved for a loan in order to determine the amount you can afford. Apply to several lenders within a two-week period; this will not adversely impact your credit report.
Real estate agents are trained to connect people who want to buy and sell houses. A very good real estate agent will use his or her experience to find the right house for you — one that matches both your interests and your budget.
Research what you are looking for in a home. Look at the prices, design and location of homes in your preferred neighborhood. Visit open houses to get a sense of what's on the market and what you want in a new home.
Once you are ready to submit an offer, talk to your Realtor about the guidelines in your state. Most likely your representative will forward the offer directly to the seller's representative, who then decides whether or not to accept or reject it.
Before finalizing the purchase of a home, a buyer should determine the amount of money needed for a down payment, secure a home inspection and have a home energy audit completed. The contract should be contingent on the outcome of these inspections.
Depending on where you live and the type of property you purchase, there will likely be upfront costs to maintain, furnish and secure your new home, including:
Maintenance Equipment
Be prepared to buy household items like a snow blower, lawnmower, sprinkler system and other tools.
Furniture
If you’re moving from an apartment or a smaller home, you may need to buy more furniture for your new, larger space.
Appliances
Whether you’re buying a new house without appliances or you need to update existing ones, these types of purchases can increase your initial costs of home-ownership significantly.
Moving Costs
No matter if you’re moving across town or across the country, always calculate the expenses of moving — renting a truck, hiring movers, buying boxes and more. These costs are often more than expected.
Homeowner’s Association (HOA) Fees
Ask your realtor if there are HOA fees tied to the property you want to buy.
Closing Fees
The costs to close can add up quickly. Closing fees may include home inspection, realtor/lawyer fees, title search, pest inspection, appraisal, home warranty and loan origination. Your lender may also require you to set up an escrow account to pay for ongoing property expenses.
This is one of the first things to ask yourself when buying a house for the first time. To identify your budget, take a hard look at your personal finances. Assessing your income, monthly expenses, credit rating and debt will help you figure out how much you can realistically afford. Our house calculator can also help you determine the mortgage you qualify for.
Here are the financial aspects to consider as a first-time home buyer:
Income
Monthly Expenses
Personal Debt
Credit Score
Down Payment
First-time homebuyers are often shocked at the cost of property taxes. Before purchasing a home for the first time, ask what the estimated taxes will be on the property. And do your research ahead of time so you aren’t surprised by any rate increases.
In contrast to renting, home-ownership means you’re responsible for making repairs, updates and improvements. And any repair, major or minor, may leave you strapped for cash. Set aside an emergency fund for any unexpected expenses.
It’s important to consider all factors — relocating for work, expanding your family, getting married — that may cause you to move. It generally takes five years or more to break even on the costs of buying, owning and selling a home. Thinking about how long you’ll be in the home will also help you settle on a neighborhood and the size of house you’ll need.
It’s important to know your rights as a mortgage borrower. The Consumer Financial Protection Bureau’s Know Before You Owe initiative provides borrowers with a better understanding of loan options, helps them shop for the best mortgage and aims to minimize the chances of any surprises before closing.
Of all the questions to ask yourself when buying a home for the first time, this is the one that most people forget. It’s easier to think about how much you can spend, but it’s harder to ask how much you can save. How much money do you want to stockpile for retirement, college and vacations? How much do you want to put into personal savings? As you determine how much you can afford on your first home purchase, don’t forget to factor in your savings goals.
Protecting things that matter most to you, including your new home, means having the right coverage. As you close on your home, a Farm Bureau agent can work with you to determine which home insurance coverage best fits your needs and budget.
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CR Elite Realty is a professional real estate brokerage serving buyers and sellers of luxury property in Houston, TX. The brokerage is comprised of a close group of talented realtors, led by founders, Raevonne Walker and Janelle Malone. The vision for the brokerage is to build business through strong alliances and to help our agents believe the unbelievable, think the unthinkable and achieve the unachievable.
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