You know we always say there’s no better time to start planning your dream home, and that’s never been more true as we launch into 2019. If, indeed, you are ready to get the ball rolling, here are some things that will help you make the best decisions possible as you move forward.
San Antonio Housing Market
According to MetroDepth, the San Antonio housing market is predicted to continue to see a rise in the cost of housing prices. This comes as no surprise to us, as San Antonio is one of the most booming towns in the United States. For locals, this means, there’s no time to delay! Good news is, price growth is anticipated to slow.
Currently, the median home value in town is $165,000, according to Zillow. That’s about an 8% increase from the previous year.
Mortgage Down Payment
Although, it’s recommended to put 20% down, many lenders allow a lot less than that. While this can be useful, we recommend that you put at least 20% down, if not more, and here’s why. You’ll be paying a lot more in the long run, and it could result in higher costs when paying for private mortgage insurance. Here’s a wonderful little tool – a down payment calculator, that will hopefully help shed some light on what to expect.
Know Your Neighborhood
Finding the right house or the right builder is only half the battle. Your neighborhood is the other half of the equation that will determine whether you and your family will be happy with your new home for the long run. To ensure a good match, consider a few things. Do you wish to be a in neighborhood with a homeowners association? Find out just what this entails. Sometimes the fee is worth the amenities.
Additionally, if you have kids, you’ll want to research nearby schools. Even if you don’t have children, the quality of the schools could affect the value of your home. Look into safety and crime statistics and take the time to map out all the important go-to’s, such as the closest hospital, grocery store, gas station and other relevant stops. Although time consuming, try driving through your potential neighborhood on different days and various times throughout the day to check on the traffic and noise. You won’t regret making the effort!
These are just a few notes to help prepare you for your new home. When you’re ready, we’re here to help build your dream. Give us a call at 210-494-5400 or fill out our online form to get started.