Committed to a brighter future for children, neighbors and communities.

We consider a healthy neighborhood to be one that is safe, clean, and diverse; one in which it makes economic sense for people to invest and one where neighbors manage change successfully.

We consider a healthy neighborhood to be one that is safe, clean, and diverse; one in which it makes economic sense for people to invest and one where neighbors manage change successfully.

Should I Buy A Home or Wait?

You want to buy a home, but there is economic uncertainty. Here are some key considerations to help determine the way forward. 

Have you saved enough for a down payment? 

Staying within your budget should help you to pay all your expenses. Start by saving. Each month put what you can into a savings account. Over time, you will have saved up enough to help with down payment and closing costs. Not sure how to save. Take our Financial Literacy and Homebuyer Education Class. 

Work on your Credit. 

It is important to know your credit worthiness and what creditors say about you. Reviewing your credit report, at least annually, will help prevent surprises as well as help you learn what you can do to improve your score. Although it will not have your FICO score, you can get a free credit report from each credit bureau by going to annualcreditreport.com. 

Two significant factors that impact your credit score are how you pay your bills and how much you owe. It is important to pay all of your bills on time as well as keeping your balances low on revolving lines of credit. Creditors also take into consideration how much you currently owe on each line of credit compared to the credit limit and/or original loan amount. This is what is known as credit utilization rate. Most credit experts advise keeping your credit utilization below 30 percent, especially if you want to maintain a good credit score. For example, if you have $10,000 in available credit, your outstanding balances should not exceed $3,000. 

How long are you planning to stay? 

Beyond the purchase price, buying a home comes with closing costs that can run thousands more. So, to justify those one-time transaction costs, it’s wise to be reasonably certain that you won’t move again anytime soon — or that you’ll be financially stable enough to hold on to the property and rent it out.

If you want to learn more, check out our classes and homebuyer coaching

Share This Story:
Grassroots Community Development
Grassroots Community Development6 days ago
Hello! My name is Lee Scheffe, I am thrilled to join Grassroots as the East Waco Community Organizer! I was born and raised in Austin, Texas. I moved to Waco in 2020 to attend Baylor for my undergraduate degree in economics and political science, which I earned in May 2024. While a student at Baylor, I was blessed to work with a number of community organizations and leaders in Waco's social sector. I served as a grant writer for a local nonprofit, completed an internship at the Community Development department at the City, and spent time volunteering at a number of local charities. These experiences introduced me to the wonderful, powerful, and loving community of Waco. Growing up in Austin, I witnessed firsthand the effects of fast-moving municipal growth. I saw that, sometimes, behind the image of economic vitality, displacement, disenfranchisement, and injustice occurred. I was blessed to be surrounded by a faith community and local organizers who understood the power of listening to local voices and empowering community members to enact the change they wanted to see in their city. These experiences instilled in me a love for community-based change and the value of active and patient listening.

I've long held a deep interest in housing. During the summer before my final undergraduate year, I studied vacant housing in Waco and presented my findings to local community leaders. The following semester, I studied the effects of the expansion of short-term rental properties on Waco's housing market. Through these encounters, I began to explore the intersection between attainable housing options and community flourishing. Most significantly, I learned that working alongside community members and connecting local resources results in loving, charitable, and thriving neighborhoods.

I'm delighted to serve the wonderful community of East Waco and support the powerful stories of its community members. I look forward to being present and supporting East Waco's community members in their work.
Grassroots Community Development
Grassroots Community Development2 weeks ago
Happening this week! With topics, such as "Vehicle Safety 101," "Cyber Security Awareness," and "Domestic Violence," this event will be hard to miss.
Grassroots Community Development
Grassroots Community Development2 weeks ago
New Blog Post 🎉

"Waco is truly blessed to have partnerships around the state that are willing to serve those in need and seek out opportunities to make a difference in the lives of others. If you see groups of young people around Waco from June 19th-21st feel free to stop and say thank you for their generous service to the residents of Waco."

Read more about this program in our latest blog post!

https://grassrootswaco.org/blog/exterior-home-repair/
Grassroots Community Development
Grassroots Community Development3 weeks ago
UPDATE 🎉

We are getting even closer to starting on the actual construction of Renaissance at Sanger Heights. The City’s construction crew is making really good progress on their utility and street project. We are very thankful for all of their efforts.

Our plan is to start September 2024 with houses going up the Summer of 2025.

But before we start, we want to say thanks to three different groups that have been extremely important to this project; The City of Waco, Walker Partners and RBDR Architects.

First, the City of Waco, whose foresight in acquiring the site and dedication to community desires laid the foundation. This was the heavy lifting for the project. The effort to acquire the property and develop a plan for development has been very long process. But thanks to many different people at the City we are finally here today.

Second, Walker Partners, led by Jed Walker, invested countless hours and expertise in shaping this endeavor. When you want to build a house, you have to have a strong foundation, water and sewer connections. We reached out to the best engineering group in Waco to help us lay the ground work for building this procket neighborhood. We're grateful for their dedication and the contributions of a countless surveying and engineering hours.

Lastly, RBDR, led by Bernadette Hookham, lent their creative genius to visualize our plans, and the site plan , translating our ideas into tangible designs. All of these colorful pictures that you have seen for Renaissance were designed by the RBDR team. We thank them and their team for their invaluable contributions.

Stay tuned as we begin to change the site and bring a new homeownership concept to Waco.

#grassrootswaco #celebratingcommunity #wacotx #homeownership #homeownershipgoals #wacodevelopment #thrivingneighborhoods
Grassroots Community Development
Grassroots Community Development1 month ago
Make a plan for the home you worked so hard for