Are you a first time homebuyer in Austin? If so, you may be wondering where to start. There is a lot to learn when it comes to buying your first home, and it can be difficult to know who to turn to for information. 

That's why we've gathered some expert tips on how to start your search, find the right home, and get guidance as you purchase a home.

Know your budget

Before you start shopping for a home in Austin, it's important to know how much you can afford to spend. The down payment is the biggest upfront cost, and your monthly mortgage payments will be based on the price of the home, the interest rate, and the term of the loan. 

In addition to your mortgage payments, you'll also need to factor in taxes, insurance, and maintenance costs. By understanding your budget and knowing what you can afford, you'll be in a better position to find a home that meets your needs and fits your budget.

Get pre-approved for a mortgage

Once you have a sense of your savings and budget, the first step is to speak with a mortgage broker. They will help you to determine how much a lender is willing to offer you in financing, and they can provide you with a pre-approval letter for a mortgage loan. 

This letter shows sellers that you are a serious buyer who is prepared to move forward with a purchase. In many cases, this can give you an advantage over other buyers who have not gone through the home loan pre-approval process. So make sure you check your credit score so there are no surprises.

Research neighborhoods that fit your budget

When you're starting a house hunt in Central Texas, it's important to do your research and find a neighborhood that fits both your budget and your lifestyle needs. 

New construction homes to the east can cost a pretty penny, but you get plenty of customization on a turnkey property. Condos near the Seaholm district are perfect for folks who want to be near the nightlife of Downtown Austin. And single-family homes in Tarrytown continue to attract homebuyers seeking tranquility and closeness to the city.

One way to get started is to look at average sale prices in the area. This will give you a general idea of what you can expect to pay. 

You should also consider your commuting needs. If you'll be driving to work, you'll want to make sure there's easy access to highways and plenty of parking. If you'll be taking public transportation, you'll want to look for neighborhoods with good transit options. 

Once you've narrowed down your search, take some time to explore the neighborhoods in person. This will give you a better sense of the community feel and whether it's a good fit for you.

Find an experienced real estate agent

Buying a home is a large financial transaction. That’s why it's important to find an experienced Austin real estate agent to serve as your buyer’s agent.

A seasoned agent will have local knowledge of the real estate market and be able to advise you on pricing, negotiation, property taxes, closing costs, and more. They can also help you find hidden gems, like new construction homes popping up around town..

They will also be experienced in handling all the paperwork involved in a purchase. 

It's also a good idea to interview multiple agents to find one that you're comfortable working with. Be sure to ask about their experience, fees and what they think of the current market conditions. 

When you've found an agent you're happy with, they'll be able to help you through the process of buying.

Ask about commission rebates

Many Austin home buyers don't know that they may be entitled to a commission rebate when they purchase a property. 

In most cases, the buyer's agent is paid a commission by the seller, and this commission is typically a percentage of the sale price. However, some agents are willing to give a portion of their commission back to the buyer in the form of a rebate. 

Rebates can provide significant savings for the buyer, and they’re something that most agents are willing to negotiate on. When you're working with an agent, be sure to ask about their policies on commission rebates. You may be surprised at how much you can save.

For example, Prevu Real Estate offers the largest rebate in Austin, Texas, giving buyers up to 2% of their purchase price cash back after closing.

Tour potential homes

When you're ready to start looking for a new home, you can begin by setting your search criteria. This will help you to narrow down your options and find homes that meet your needs. 

Once you have a good idea of what you're looking for, you can start looking at listings online. This is a great way to get an overview of the homes that are available in your price range. When you've found a few potential candidates, it's time to start touring homes. 

While virtual tour videos are better than photos, visiting a property in person is the best way to get a true sense of a property. Pay attention to the layout, the condition of the home, and any features that are especially important to you. With a little effort, you'll be able to find the perfect home for your needs.

Act quickly when you find the one

Competition among homebuyers has eased in many top real estate markets and Austin is no exception. Savvy buyers will take advantage of the lull in action and move fast when the perfect home is available.  

For that reason, when you find the right property, it's important to act quickly before someone else does.

Interested in buying a home in Austin? Browse listings and learn how much you can save with Prevu’s Smart Buyer Rebate.