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Old 06-10-2009, 07:24 AM
 
17 posts, read 22,995 times
Reputation: 12

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hello can someone recommend a good place (community or subdivision) to buy a house in katy.. with good schools.. around $200,000..

also is paying minimum downpayment say 3.5%
the best way to pay a house or should one increase down payment?

a friend told me no way i'll be ripped with the price as price is fixed, is this true?

how do i know am getting a good deal with house, they wont overprice me right?

lastly, do they also haggle people like when you a buy a car?

thanks,
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Old 06-10-2009, 07:27 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,493,997 times
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Can you get a loan for only 3.5% down?
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Old 06-10-2009, 07:32 AM
 
17 posts, read 22,995 times
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that was what the agent told me...

am still thinking whether i should use an agent or
could i get more discount if i go directly to the seller?

the agent hasnt done anything yet.. we just talked one time over the phone..
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Old 06-10-2009, 07:55 AM
 
Location: A little suburb of Houston
3,702 posts, read 18,213,847 times
Reputation: 2092
Quote:
Originally Posted by elijah2008 View Post
that was what the agent told me...

am still thinking whether i should use an agent or
could i get more discount if i go directly to the seller?

the agent hasnt done anything yet.. we just talked one time over the phone..
In all honesty, it sounds like you need to educate yourself about home buying before you make the leap. Check out sites like: Buying a Home - HUD and Home Buying and Selling - How to Buy or Sell a Home
Without educating yourself, you could make really bad decisions.
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Old 06-10-2009, 08:08 AM
 
Location: Katy
82 posts, read 557,336 times
Reputation: 98
Quote:
Originally Posted by EasilyAmused View Post
Can you get a loan for only 3.5% down?

I think you can get an FHA loan for that percentage if I'm not mistaken.

As far as places to move, there are plenty to chose from if you have 200k to spend. Cinco Ranch being the most popular and established choice. There is a section right by Seven Lakes that starts in like the 160's and go up to 200k. They build Lennar and Meritage on 50' lots and Beazer and Pulte on 45' lots. Beazer, Pulte, Ryland, and Chesmar build in other and in my opinion, slightly nicer sections of Cinco with the price points for those neighborhoods starting around 200k or just below. If you like Cinco, those are the 6 builders I would look into for around that price. There are several other neighborhoods that either border various areas of Cinco or are just on the outskirts. Silver Ranch(same developer as Falcon Ranch), King Lakes, Pine Mill Ranch, and Westheimer Lakes North all come to mind.
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Old 06-10-2009, 08:13 AM
 
2,639 posts, read 8,288,426 times
Reputation: 1366
You need an agent to represent you. No seller that has representation will entertain offers from individuals. Unless you also use the seller's agent which would not be in your best interest.
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Old 06-10-2009, 08:18 AM
 
Location: Fulshear
1,326 posts, read 3,451,425 times
Reputation: 1184
Quote:
Originally Posted by EasilyAmused View Post
Can you get a loan for only 3.5% down?
Yes, you can get an FHA loan with only 3.5% down.
Go HERE to learn more about it.

I agree, the OP really needs to educate himself about the whole home-buying process. This SITE really helped me learn more about the process. Just 6 months ago I hardly knew anything about buying a home.
Now my wife and I are hoping to purchase a home in the next couple of months in Katy.

Also get a Realtor that specializes (or at least has experience) with first-time home buyers.
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Old 06-10-2009, 09:05 AM
 
17 posts, read 22,995 times
Reputation: 12
Quote:
Originally Posted by BBall Coach View Post
I think you can get an FHA loan for that percentage if I'm not mistaken.

As far as places to move, there are plenty to chose from if you have 200k to spend. Cinco Ranch being the most popular and established choice. There is a section right by Seven Lakes that starts in like the 160's and go up to 200k. They build Lennar and Meritage on 50' lots and Beazer and Pulte on 45' lots. Beazer, Pulte, Ryland, and Chesmar build in other and in my opinion, slightly nicer sections of Cinco with the price points for those neighborhoods starting around 200k or just below. If you like Cinco, those are the 6 builders I would look into for around that price. There are several other neighborhoods that either border various areas of Cinco or are just on the outskirts. Silver Ranch(same developer as Falcon Ranch), King Lakes, Pine Mill Ranch, and Westheimer Lakes North all come to mind.
yes this is the area we actually would want to buy our house.. cinco ranch and it's surrounding neighborhoods..
thanks,
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Old 06-10-2009, 10:00 AM
 
Location: spring tx
7,912 posts, read 10,087,644 times
Reputation: 1990
IMO i would never buy without at least a 20% down payment. this isnt easy for everyone but IMO it should be the minimum
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Old 06-10-2009, 10:03 AM
 
17 posts, read 22,995 times
Reputation: 12
Quote:
Originally Posted by rigas View Post
IMO i would never buy without at least a 20% down payment. this isnt easy for everyone but IMO it should be the minimum
why?
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