3 Steps to Becoming a Houston Homeowner in 2021
Maybe you’re coming from the Big Apple or the City of Angels, or maybe you’re relocating just a few hours away from Dallas, Austin, or San Antonio. No matter where you’re making the move from, Houston is calling you home.
Here’s what you need to know before making the move to Space City in 2021.
Understand Houston Area Property Taxes
Property taxes in Texas allocate more money to local government services than anything else. These expenses go directly towards public schools, city streets, county roads, police and fire protection, and more.
So, how does it work? There are three main parts to the property tax system in Texas:
An appraisal district in each county sets the value of taxable property each year.
An “Appraisal Review Board” settles any disagreements between you and the appraisal district about the value of your property.
Local taxing units (the county, cities, school districts, etc.) decide how much money they will spend each year, determining the tax rate they need to set and how much you will pay annually in property taxes.
This system operates in 4 stages:
Valuing the taxable property
Protesting the value
Adopting the tax rates
Collecting the taxes
Source: Harris County Appraisal District
Applying for a Mortgage in 2021
With the onset of the COVID-19 pandemic, prospective homebuyers were soon met with record-low interest rates when it came to applying for a home loan.
With so many people ready for change and adopting a #WorkFromHome lifestyle, the demand for homes quickly started to outnumber the supply.
While the rates are seemingly up from this time last year, they’re still at an all-time historic low in comparison to pre-pandemic times.
To better understand how to apply for a mortgage in Texas, check out our previous blog which serves as the ultimate guide to understanding your mortgage.
If you’re looking to see if you're currently qualified to purchase a home, contact our preferred lender Colina Mortgage Group for a quote.
Decide whether to build or buy
To be honest: you can’t really go wrong either way, but of course there are pros and cons to both options.
If you choose to build a custom home you have the opportunity to design it to your unique preferences, although it may take a bit longer to finally move in.
When you buy a pre-built home, however, you’ll be able to make the move sooner but may need to set aside extra funds to customize design and features to your preference.
Either way, it’s important to make sure your new Houston home is built with the utmost quality and craftsmanship. That’s where our Colina commitment to quality plays a big role.
Along with premium homes, we provide personalized assistance at every step of the journey—from the day you sign your contract, to the day we hand over the keys.
