Affordable Homes For Sale in Richmond TX 77406 

Perhaps you are a first-time home buyer, or working with a limited budget, and have a special interest in finding an affordable home. Or possibly you are a renter fed up with rising rents who wants to investigate the many benefits of owning your own home. You may even be an investor looking for a property that offers good financial returns. All of those in the above categories will find much to consider by browsing the affordable Richmond TX 77406 homes for sale listed below.  

However, you should be aware that this is very active portion of the Richmond TX 77406 real estate market. There is a lot of competition from other buyers and inventory is limited. Consequently, prices have been rising in response to high demand.  

If you are interested how the affordable home market has been performing in Richmond TX 77406, we publish market reports regularly. If you'd like to see the latest such report, it can be found at the bottom of this page.  

If you are considering buying one of these affordable Richmond TX 77406 homes for sale, don't be discouraged by the market - it is still possible to find the right fit for your needs. But you will have to plan ahead, have your financing in place and be willing to make a quick offer when the right opportunity comes up.  

Because the inventory of affordable Richmond TX 77406 homes for sale is always changing, searching for the right home can be a challenge. You may check this website frequently, but there is a better way: Let us set up an on-going search especially for you, with your own customized web site - you'll be notified whenever new listings are posted, and you'll be able to react quickly when the right home becomes available.  

We're here to help you put what you need in place for a successful affordable home search. In addition to assisting in your search, we can recommend a great lender, and be there as you work through the entire process. When you see a home that interests you, give us a call or text us at 832-449-6061 – we’d be delighted to set up a showing for you quickly and at your convenience.  

  

Click Here to view a list of the homes currently available for sale. To see the complete list, click on "View All Results" at the bottom of the showcase of all Subdivisions within Richmond Texas 77406.  

 

NEW! Neighborhoods / Subdivisions / Communities in Richmond Texas 77406 

 

Candela 

Builders in Candela: 

Coventry Homes 

Perry Homes 

Westin Homes 

  

Deer Run Meadows 

Builders in Deer Run Meadows:  

KB Homes 

Harvest Green 

Builders in Harvest Green: 

David Weekley Homes 

Highland Homes 

Identity Homes  

Lennar Homes 

Perry Homes 

Mandola Farms 

Builders in Mandola Farms:  

Meritage Homes 

  

McCrary Meadows 

Builders in McCrary Meadows:  

Devon Street  

Lennar 

Westin Homes  

 

Stonecreek Estates 

Builders in Stonecreek Estates: 

David Weekley Homes 

Perry Homes 

Westin Homes

Talavera 

Builders in Talavera: 

Pulte Homes 

 

Popular Neighborhoods / Subdivisions / Communities in Richmond Texas 77406 

 

 

 Bella Vista

 Briscoe Falls

 

 

 Brynmawr Lake 

 

 

 Canyon Gate At Westheimer Lakes 

 

 

 Canyon Lakes At Westheimer Lakes 

 

 

 Canyon Springs At Westheimer Lakes 

 

 

 Canyon Village At Westheimer Lakes 

 

 

 Colony West 

 

 

 Covey Trails 

 

 

 Creekside Ranch 

 

 

 Crystal Lake Estates 

 

 

 Estates Of Brazoswood 

 

 

 Foster Creek Estates 

 

 

 Foster Crossing 

 

 

 Glenwood 

 

 

 Goldenrod Estates 

 

 

 Grand River 

 

 

 Harvest Green 

 

 

 Horseshoe Ridge At Westheimer 

 

 

 Hunterwood 

 

 

 Huntington Oaks 

  

 Lakes Of Bella Terra 

 

 

 Lakes Of Mission Grove 

 

 

 Pecan Creek 

 

 

 Pecan Grove Plantation 

 

 

 Pecan Lake 

 

 

 Pecan Lakes 

 

 

 Plantation Place 

 

 

 Richland Park 

 

 

 Rio Vista 

 

 

 River Forest 

 

 

 Rivers Edge 

 

 

 Rolling Creek 

 

 

 Rolling Oaks 

 

 

 Shadow Grove Estates 

 

 

 Texana Plantation 

 

 

 The Greens At Pecan Grove 

 

 

 The Grove 

 

 

 Waterside Estates 

 

 

 Westcreek 

 

 

 Whispering Oaks 

 

 

 Woods Edge 

 

  

View All Results  

 

More Places to Store Odds and Ends

Having enough storage space is a struggle that many homeowners face. Even when you have plenty of closets and cabinets, there are often additional odds and ends that don’t really seem to belong anywhere. The resulting clutter can be frustrating, and often results in things like unorganized junk drawers or a desk that becomes something of a cluttered catch-all for things that don’t have anywhere else to go in the house.

There are ways to get around some of this clutter, though. You’re likely already familiar with some spaces where you can store some of your odds and ends, but there may be options that you haven’t considered yet. Here are a few more areas that you might consider to help declutter your home and find a place for everything.

Under, Over, and Behind

When you look in your cabinets or closets and see the clutter there, you might actually be missing one possible solution to your problem. There’s usually some empty space around the clutter that you can take advantage of with relatively little effort, provided you recognize it for what it is. Instead of focusing on what’s on the shelves or in your existing storage areas, start looking under, over, and behind those areas. Options include:

• Hang a shoe holder on the back of a closet door and place various small items into its pockets to better organize the space
• Install under-cabinet hardware to mount can openers, paper towels, sliding drawers, or even things like your microwave to free up counter space
• Place hooks on the backs of cabinet doors or on cabinet walls to hold measuring cups or other small items, organizing them for easy access
• Add shelves or an over-the-toilet organizer to your bathroom to hold towels, soaps, makeup, and other items that might otherwise sit around your sink or crowd your bath area
• Install hooks near entrances, in bathrooms, in the laundry room, and in other locations where you might need to hang up coats, towels, or other items

There are a lot of other options available as well, and you can find a wide range of racks, storage solutions, and modular shelving kits that will help you to take advantage of this otherwise unused space.

Making More Storage

If you need a bit more storage than a shoe rack or a bin can provide, there are a few slightly larger projects that can give you a lot more space for your odds and ends. While some of these require a bit of construction, others focus on replacing some furniture pieces to make them more functional. Just a few of these projects include:

• Make better use of the space under beds by adding bed frames with built-in drawers that slide out for easy access
• Install a shelving system in your attic or garage and use it to hold storage bins, organizing the contents of each bin and labeling them for easy reference
• Add a small set of shelves to your broom closet, laundry room, or other out-of-the-way area, cutting out an area between studs so that you can add recessed shelving if necessary
• Replace ottomans, nightstands, coffee tables, or other furniture pieces that are purely decorative and opt for versions that contain more storage

Depending on the layout of your home, there may be other options available to you as well. If you do a lot outdoors, you might also consider adding a shed or other outdoor storage solution to get the items you regularly use out of the house and where you actually need them.

Bring In Some Help

Organization can be tricky, so don’t be afraid to bring in a pro to help. Professional declutterers, interior decorators, handymen, and more can help you find places to put all your odds and ends or make suggestions on the best places in your home to add more storage.

 Is a 20% Down Payment Really Necessary To Purchase a Home?

There's a common misconception that, as a homebuyer, you need to come up with 20% of the total sale price for your down payment. In fact, a recent survey by Lending Tree asks what is keeping consumers from purchasing a home. For over half of those surveyed, the ability to afford a down payment is the biggest hurdle.

That may be because those individuals assume a 20% down payment is necessary. While putting more money down if you're able can benefit buyers, putting 20% down is not mandatory. As Freddie Mac puts it:

The most damaging down payment myth since it stops the homebuying process before it can start is the belief that 20% is necessary.

If saving that much money sounds overwhelming, you might be ready to give up on the dream of homeownership before you even begin but you don't have to. According to the Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn't been over 20% since 2005. It may sound surprising, but todays average down payment is only 12%. That number is even lower for first-time homebuyers, whose average down payment is only 7%.

Based on the Home Buyers and Sellers Generational Trends Report from NAR, the graph below shows an even closer look at the down payment percentage various age groups pay:As the graph shows, the only groups who put 20% or more down on average are older homebuyers who likely can use the sale of an existing home to fuel a larger down payment on their next home.

What does this mean for you?

If you're a prospective homebuyer, its important to know you don't have to put the full 20% down. And while saving for any down payment amount may feel like a challenge, keep in mind there are programs for qualified buyers that allow them to purchase a home with a down payment as low as 3.5%. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants.

To understand your options, you do need to do your homework. If you're interested in learning more about down payment assistance programs, information is available through sites like downpaymentresource.com. Be sure to also work with a real estate advisor from the start to learn what you may qualify for in the homebuying process.

Bottom Line

Don't let the myth of the 20% down payment halt your homebuying process before it begins. If you want to purchase a home this year, lets connect to start the conversation and explore your options.

Two Reasons Why Waiting a Year To Buy Could Cost You

If you're a renter with a desire to become a homeowner, or a homeowner whos decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.

To determine if you should buy now or wait, you need to ask yourself two simple questions:

1. What will home prices be like in 2022?
2. Where will mortgage rates be by the end of 2022?

Lets shed some light on the answers to both of these questions.

What will home prices be like in 2022?

Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts:

• Freddie Mac: 5.3%
• Fannie Mae: 5.1%
• Mortgage Bankers Association: 8.4%

Using the average of the three projections (6.27%), a home that sells for 350,000 today would be valued at 371,945 by the end of next year. That means, if you delay, it could cost you more. As a prospective buyer, you could pay an additional 21,945 if you wait.

Where will mortgage rates be by the end of 2022?

Today, the 30-year fixed mortgage rate is hovering near historic lows. However, most experts believe rates will rise as the economy continues to recover. Here are the forecasts for the fourth quarter of 2022 by the three major entities mentioned above:

• Freddie Mac: 3.8%
• Fannie Mae: 3.2%
• Mortgage Bankers Association: 4.2%

That averages out to 3.7% if you include all three forecasts, and its nearly a full percentage point higher than todays rates. Any increase in mortgage rates will increase your cost.

What does it mean for you if both home values and mortgage rates rise?

You'll pay more in mortgage payments each month if both variables increase. Lets assume you purchase a 350,000 home this year with a 30-year fixed-rate loan at 2.86% after making a 10% down payment. According to the mortgage calculator from Smart Asset, your monthly mortgage payment (including principal and interest payments, and estimated home insurance, taxes in your area, and other fees) would be approximately 1,899.

That same home could cost 371,945 by the end of 2022, and the mortgage rate could be 3.7% (based on the industry forecasts mentioned above). Your monthly mortgage payment, after putting down 10%, would increase to 2,166.

The difference in your monthly mortgage payment would be 267. That's 3,204 more per year and 96,120 over the life of the loan.

If you consider that purchasing now will also let you take advantage of the equity you'll build up over the next calendar year, which is approximately 22,000 for a house with a similar value, then the total net worth increase you could gain from buying this year is over 118,000.

Bottom Line

When asking if you should buy a home, you probably think of the non-financial benefits of owning a home as a driving motivator. When asking when to buy, the financial benefits make it clear that doing so now is much more advantageous than waiting until next year.