Home Buying 101 Texas May 2026

Once you move in, don't forget to file for your Residence Homestead Exemption by April 30th of the following year to save significantly on your property taxes. Are you looking in a specific Texas city , or

Before looking at houses, you need to know what you can afford. Texas has no state income tax, but it does have some of the highest property tax rates in the country. home buying 101 texas

Typically range from 2% to 5% of the purchase price. 2. Find a Texas-Licensed Realtor Once you move in, don't forget to file

You pay a small fee (e.g., $100–$500) for the right to terminate the contract for any reason within a set window (usually 7–10 days). Typically range from 2% to 5% of the purchase price

The Texas State Affordable Housing Corporation offers down payment assistance and mortgage tax credits for teachers, police officers, and low-to-moderate income families.

In most cases, the seller pays the commission for both agents, meaning professional representation often costs the buyer nothing out of pocket. 3. The "Option Period" & Inspections