BY HANNAH JOHNSON
how big is that neighborhood going to be? What are the number of homes that are going to be in there? Does it have a [homeowners association]? What kind of deed restrictions would be there after you move in? Asking questions to help you understand the community that you’re going into [will] make you feel a lot less stressed. A lot of people feel that since it’s a brand-new home, it’s already been inspected and the city has approved it. City approval, permits and inspections are different to what you would have a Realtor schedule for a third-party inspection. You want to get all of these things done before you close. What should homeowners know about financing a home? Financing is going to depend on a couple of things. Most loans are going to require a down pay- ment. What kind of down payment [can you afford] because that is going to determine the type of loan that you qualify for. Do you have enough money for the additional closing costs? You need to figure out what you can afford.
Median sales price of Frisco homes since 2020
The Collin County Area Realtors association collects residential market data for Frisco, including the average days spent on the market, the number of homes sold and the median home sales price. From 2020 to 2024, the median sales price of a home in Frisco has increased 62.3%.
$675,000
$663,000
$610,000
$800,000
$460,000
$415,900
$600,000
$400,000
$200,000
$0
2020
2021
2022
2023
2024
SOURCE: COLLIN COUNTY AREA REALTORS/COMMUNITY IMPACT
You need to make sure that you understand that process because it can be overwhelming. Make sure that you prioritize what your needs are. Make a checklist, and make sure that you find a home that meets your comfort level. Make sure all your due diligence is done. At the end of the day, you want to make an informed decision.
What’s the most important thing a new homeowner should know when looking to buy a home? Buying a home is such a big financial decision. It’s a future investment. This is a long-term hold for you. This is your home. You’re going to build equity. This is where you’re going to build memories.
LITTLE ELM 27100 Hwy 380 (972) 347-9630
LOWRY CROSSING 4100 E US 380 (972) 540-2500 THE COLONY 4901 Hwy 121 (214) 469-2113
ALLEN 1839 N Central Expressway (972) 908-3488
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