Real Estate 101 (or How to Buy a House in Waco)

Step 1:  The Lender

As a Realtor, I frequently get calls from people that want to own a home, but have no idea of how to go about buying one.  They may say, "I think I want to buy a house but I don't know what to do."  Or, "I saw a house I would love to buy but I'm not sure where to start or how to do it."  Or even, "Can I afford to buy a home?"  If you are thinking, "Yes!  That's me!" you're in the right place.  The question you should be asking is this: Can you afford NOT to buy one.  OK, here is dirty little secret number #1:  If you can afford to rent a house in Waco, you can afford to BUY one.  Let's be honest, landlords don't buy a house and then rent it for less than the payments, insurance, taxes and upkeep cost them.  They are making a monthly profit on that house (or apartment) you are renting - you could be putting that money in YOUR pocket, instead of theirs.  The only real problem in making the transition from a renter to a homeowner (doesn't that word have a nice ring to it?) is this:  Can you come up with the necessary cash to buy that home you've always wanted? 

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Bill Patterson

Kelly, Realtors

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