Buying a house can be a daunting task as it requires careful research and ample planning. It does not matter whether you are newbie or an experienced buyer, it always helps to have a checklist ready so you do not end up making mistakes while choosing the house that best suits your needs.
Listed below are some factors that you may consider before buying a home in Killeen:
- Set a budget and stick to it: Based on your existing and future financial position, draw up a budget that you will stick to when purchasing a house. The size, location, proximity to civic areas, neighborhood are factors that you must pre decide and zero down on a property accordingly.
- Determine the cost of the house: Evaluate the total cost of the house to determine if it suits your budget. The registration charges, stamp duty, mortgage fee, insurance etc. are some of the expenses that you must include in the cost of the house and then compare it with the pre-decided budget in your mind.
- Strengthen your credit score: If you are planning to take a home loan, it is best to start working on your credit score so you can get the maximum advantage in the deal. Pay your bills in time and keep your credit rating good as they will help in getting better rates.
- Save for down payment: At least a year before you start looking for a property, keep aside a fixed amount every month towards the down payment of your own home. This will ease out the financial burden when you finally find the property that you want to buy.
- Inspect the house thoroughly: Inspect the house to check if ceiling, floor, walls, porch, garden and other parts of the house are in good condition. If there is any repair or maintenance work required, bring it to the knowledge of the seller and ask him to get the work done before closing the deal.
Online listings can help you shortlist the right properties suiting your requirements. You may also Get in touch with a real estate agent and eliminate all hassles to ensure peace of mind.
For assistance buying a home in Killeen, TX, feel free to contact Lone Star Realty & Property Management, Inc. at (254) 699 – 7003.
Home inspection must be undertaken by every responsible landlord to make sure their home is in good condition and can be handed over to the next occupants. This may be carried out within the tenure of the existing tenants or at the end of the lease period. In either case, it is an opportunity to identify the minor issues before they pose to be bigger problems.
Below is a checklist that every landlord may refer to before renting out his home:
- Walls: Tenants may have made holes into your walls to hang pictures and paintings. If the holes are small, they may not be difficult to take care of. However, if they are big, you may ask the tenant to get them covered up before they leave your premises.
- Flooring: The tenant may have kept heavy furniture on your floor or a pet that has caused damage to it. Burns, scratches, stains and rip offs are some of the common problems with the floor. Point them out to your tenant and get the repair work done before the entire flooring needs to get changed.
- Bugs and rodents: Check the attics and lofts for any rodent or bug infestation. If the house has a damp smell, chances of infestation is higher. Get rid of the cause of this occurrence immediately.
- Leakages: Inspect all fittings to see if there are any leakages in taps or pipes. Carefully examine the drainage system so there are no blockages as this may lead to overflowing and spoil your interiors.
- Outdoor area: If you have a garden, make sure it is well maintained by the tenants. Check for overgrowing shrubs, under irrigated patches of land to ensure your garden remains in proper condition.
- Fire and safety hazards: If there is any damage to the house or the tenant suffers an injury, you may be held liable for the damage. Check all fire safety equipment and alarms to avoid any kind of accidents.
Property inspection must be carried out after duly informing the tenant in advance. One may get a camera at the time of inspection to record the condition of the home as per the mutually agreed contract between the landlord and the tenant.
The property managers at Lone Star Realty & Property Management, Inc. conduct regular inspections to make sure that your rental home is in top condition. For more information, you can call us at (254) 699 – 7003.
Having a good tenant can make your rental experience easy as you are assured of timely payments and a good upkeep of your house. Someone who may look good on paper may not be good in person while someone who appears well turned out may not be good financially. Below are some qualities that you must look for in a prospective tenant:
- Must be responsible: Check if the tenant is punctual for the meetings you have scheduled. A responsible tenant will not only determine how he treats you but also how he keeps your property.
- Check for financial stability: A tenant must be earning at least 3 times the total amount of the rent. Also, make sure that he has a steady source of monthly income. A secure income will ensure full and timely payments.
- Should be polite: During your conversations, observe if the person is responding politely to your questions. If he appears disinterested in conversations, chances are he may pose problems for you as well as his neighbors.
- Do background research: Contacting previous landlords, colleagues and roommates is a good way to do some background check on your tenant. You may ask questions like ‘Did he pay regularly?’ or ‘Does he have a good temperament?’ All this will help you determine if your monthly rent will be paid timely and your house will be in safe hands or not.
- Check for honesty: Verify the entries made by the tenant in the application form to see if he is honest. Honesty is a good trait in a tenant as then he will not make excuses if something needs your attention at your property. You can also check with employers/ past landlords to gauge this.
- Must read the agreement well: A good tenant will always be transparent and open about the transaction. They should have read and understood all your clauses and raised any issue that they may have beforehand.
If you are looking to rent your home in Ft Hood, TX, contact Lone Star Realty & Property Management, Inc. We can help you find quality tenants and maximize returns on your investment property. For more information, call at (254) 699 – 7003 or visit 1020 W Jasper Drive, Killeen, TX 76542.