Buyer FAQs

How do I start the home buying process in Hays County Texas?
The first step is connecting with a local real estate expert who knows the neighborhoods and market trends. Start here with Carissa Holmes Real Estate to explore communities and next steps.

What is the difference between being pre-qualified and pre-approved for a mortgage?
Pre-qualification gives you an estimate of what you may afford, while pre-approval involves a deeper look at your financials. Sellers take pre-approvals far more seriously and I, personally require that you have a pre-approval prior to touring homes.  If you want to look at homes before going through the process of getting approved for a loan attend open houses.

How much should I expect to put down as a down payment?
Down payments in Texas vary, but most buyers put down 3% to 20% depending on loan type. A trusted lender can help you determine the right option.  I would be more than happy to introduce you to a few great lending professionals.

What are the best neighborhoods in Dripping Springs for families?
Popular family-friendly neighborhoods include Headwaters, Caliterra, and Rim Rock. Explore local neighborhood guides to see what might be the best fit.  Please reach out via text, phone or email with questions about any specific neighborhoods you’ve been eying. 

How does living in a MUD or PID affect my taxes?
Many Hill Country subdivisions are within a MUD or PID, which adds an additional tax rate. However, in the majority of cases this additional tax will be rolled up into your over all “property tax”. 

Can out-of-state buyers purchase in Texas easily?
Yes! However, Texas is a non-disclosure state, so working with a local expert is key. No website (regardless of what they may claim or lead you to believe) has accurate data regarding the prices homes SOLD FOR which can be very different than the price they were publicly listed at. I love working with out-of-state buyers, as I and my husband purchased a home here having moved from Los Angeles, CA.

What is an option period in Texas real estate?
The option period gives buyers the right to back out after inspections for a set time. It’s a critical protection step in your purchase.  The average is 10 calendar days.

How long does it take to close on a home in Dripping Springs?
Most transactions close within 30–45 days once under contract, though cash deals can move faster.  If you are in a hurry to close I can engage you with lenders and title companies that often cut the time down to 3 weeks but it’s imperative that you have all of your documents in order and remain very accessible throughout the process.

What are the advantages of buying a home in DSISD?
Dripping Springs ISD is highly rated and a strong factor in long-term home values. See market data tied to schools.  DRIP also is in the mist of planning for a new High School off of Darden Hill Road close to the intersection of 1826.  The campus will have baseball fields, courts,  and a practice football stadium.

Should I buy a new construction home or resale?
There are many pros to new construction there are also many drawbacks.  Frankly the answer is highly dependent upon your wants and needs. We’ll determine if new construction or resale is best for you during our discovery call and who knows?! It’s very possible that both options are on the table for you.  I pride myself on ensuring my clients have options.

What closing costs should buyers expect?
Closing costs in Texas typically run 2–5% of the purchase price and include lender fees, title insurance, and more.  It’s important that depending on local market conditions and the circumstances of the seller, closing costs can and often are covered by the Seller.

Can I buy a home as an investment in Hays County?
Absolutely.  I, personally, own and manage investment property in San Marcos.  It is possible to find cash flowing property that will fit in your portfolio well however, as always, knowing your numbers is very important.  I am very capable of underwriting multi family as well as single family homes for investment purposes.