For the past few years, we’ve talked to a lot of clients who would call themselves a potential first time home buyer in Central Texas who have been doing the same thing: watching… waiting… and hoping for the “right” time to make a move.
Some were concerned about rising prices.
Some were discouraged by higher interest rates.
Others assumed they wouldn’t qualify for a mortgage in today’s market.
If that sounds like you, here’s something worth paying attention to: mortgage rates are roughly 1% lower than they were a year ago.
Great News for Any First Time Home Buyer in Central Texas
That may not sound dramatic at first glance, but in real numbers, a 1% drop can significantly impact your monthly payment and long-term affordability. On a $300k-$400k home, that difference can mean hundreds of dollars per month — and tens of thousands over the life of a loan.
For buyers who’ve been sitting on the sidelines, this shift could be the opening you’ve been waiting for.
What About Prices?
In the Central Texas market, some home values have declined a bit. But others have remained steady and, in many cases, continued to appreciate slightly. Waiting for a major price drop hasn’t proven to be a reliable strategy locally.
What has changed, though, is buyer leverage. Inventory has improved. Sellers are more negotiable than they were during the peak frenzy. That means you may have more room to negotiate on price, repairs, or even closing costs than you did a couple of years ago.
I’m a First Time Home Buyer in Central Texas – I Don’t Think I’d Qualify…
This is one of the biggest misconceptions we hear — especially from renters.
Many people assume they need perfect credit, 20% down, or a huge income to buy a home. In reality, there are loan programs designed specifically for first-time buyers and moderate-income households. You might be closer than you think.
The truth is, the “right time” to buy isn’t about perfectly timing the market. It’s about whether the move makes sense for your finances, your family, and your long-term goals.
If you’ve been watching from the sidelines, this might be the moment to at least run the numbers. No pressure. No obligation. Just clarity.
Sometimes the best move isn’t waiting for perfect conditions — it’s making an informed decision with the opportunities in front of you today.
Ready to Get Started?
Start today by getting in touch with Covington Real Estate. We’ll make sure you make the most of this opportunity, whether you’re a first time homebuyer in Central Texas or you’re looking for a second property.