Home Buying Tips

From your local real estate agents in Montgomery County.

Buying a Home in Montgomery County?

MONTGOMERY COUNTY REAL ESTATE IS HEAVILY SOUGHT AFTER.

It is one of the fastest growing areas in Texas north of the Greater Houston Metropolitan Area. There are thousands of properties in the Lake Conroe area and in The Woodlands on the market at any given time. Find out why so many call it home and tips for buying your next house in Montgomery County TX.

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We focus on helping you make the best home purchase possible

Hoover Lake Conroe Realtys number one priority is customer satisfaction. Below are FAQs to help our clients in their real estate investment:

WE LISTEN
to what you want and strive to deliver the ideal property for your needs at the best price.
WE SIMPLIFY
a complicated process and bring you the most important and vital information.
WE KEEP IN TOUCH
never leaving you guessing what is next. We update you on each step along the way on how to buy a house. We keep you updated on market trends, new listings that meet your criteria, and an occasional How are you doing, call.
WE USE STRAIGHT TALK
and understand that a real estate purchase is an emotional process, so we maintain an objective perspective on all options.
WE UTILIZE TECHNOLOGY
from MLS to property records to tax databases providing you with the most relevant information to make an educated offer. Understanding the sellers position and motivation is something that gives our buyers a competitive edge.
WE MANAGE CHANGE
in the local marketplace, and as local Real Estate Professionals we keep a current database of a variety of service companies to ease the transition into your new home.

WHY HOME BUYERS WORK WITH US:

Explained the process clearly, ensured paperwork was correct, used technology efficiently, negotiated effectively, exhibited attention to detail, represented and protected my interests.

Competencyhttps://

Exhibited knowledge of the real estate market, the neighborhood and community

Market Knowledgehttps://

Updated me regularly, responded in a timely manner, communicated with me in the way I wanted

Communicationhttps://

Understood my needs, gave me personal attention, made me feel valued as a client, was on time and prompt. I would recommend this Realtor to a friend or colleague.

My Experiencehttps://

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Let Your New Home Find YOU

Homeowner Basics

Expect to spend an estimated 1 percent of the purchase price of your real estate investment annually on maintenance such as new windows, sealing driveways, gutter repair, and other maintenance associated with property ownership.
Tax Breaks for first-time buyers
- Mortgage Credit Certificate programs- first-time homebuyers can qualify for federal income tax write-offs to make qualifying easier.
- Homeowners who itemize their returns can deduct mortgage interest and property taxes.

Credit FYI

Most of the credit reporting organizations provide one free copy of your tax return annually.
Begin monitoring your credit score six months before shopping for a home.
Use that time to build or repair credit. Be sure to check your report for mistakes, unpaid accounts or collection accounts.
Credit Utilization is a ratio of how much credit is used versus available credit and is a key to an optimal credit score.

Taxes

Can I deduct my mortgage interest? Yes, mortgage interest deduction allows you to deduct the interest on your real estate investment for the year that you paid it. In order to deduct mortgage interest it must be itemized and your total deductions must exceed the IRSs standard deduction.
Can property taxes be deducted? Yes, property taxes are fully deductible against current income taxes.
How are property taxes calculated? Texas uses the Appraisal District method that consolidates all of the taxing districts such as county, city schools, hospitals, etc. into one tax billing using the same appraisal value. The amount of taxes due is unique to each property and is based on appraisal value and location. As Realtors, we will be able to give you an estimate on the annual tax liability of each property.
What are property taxes used for? Property taxes are used to help fund public services.
Are homeowners fees tax deductible? No, homeowners fees are not tax deductible because they are considered living expenses.
What is a Cost Basis? Cost basis is defined as the money an owner spends for permanent improvements through the time in their home. These are added to the amount paid for the property and are usedto offset the capital gains taxes when a real estate investment is sold.
What is an Escrow account? An Escrow account refers to an account created by the lender to hold money to pay for real estate taxes and mortgage and homeowners insurance premiums each month.

Insurance

Standard homeowners insurance protects against: fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collapsing buildings, freezing of plumbing fixtures, electrical and water damage from plumbing, heating or air conditioning systems.
Standard insurance policies are called at-risk policies that cover everything except earthquakes, floods, war and nuclear accidents.
Basic policies are expandable and able to include coverage for floods and earthquakes.
Home-based business-coverage does not cover liability associated with business.
Recommended insurance coverage is equal to the full replacement value of the home.
Inflation rider is type of insurance coverage that increases as the home value increases.
A Guaranteed Replacement Cost Insurance tends to cost more but delivers more comprehensive coverage than standard policies. It promises to cover the complete costs less deductible of replacing a destroyed house.