The Complete
Guide to Buying
a Home in
Collin County.
Everything you need to know about purchasing a home in one of the fastest-growing counties in the nation — from getting pre-approved to closing day. Written by Chad Montgomery, a Collin County native with over 20 years of experience and 1,000+ homes sold.
Why Buy in
Collin County?
Collin County is one of the most dynamic real estate markets in the country. As a native who has watched this area transform over the past two decades, I can tell you — there has never been a better time to put down roots here. Here is why.
Population & Growing
Collin County added nearly 43,000 residents in a single year — the second-largest numerical growth in the nation. That growth drives job creation, infrastructure investment, and property value appreciation.
Top-Rated Schools
Frisco ISD, Allen ISD, Prosper ISD, and Wylie ISD all earned "A" ratings from the Texas Education Agency for 2024–2025. School quality is one of the biggest drivers of home values in this market.
Job Market Hotspot
Frisco and Plano are among the best job markets in Texas, home to Toyota, JPMorgan Chase, Liberty Mutual, the Dallas Cowboys, and the PGA of America. Major employers continue to invest here.
New Construction Boom
From Prosper to Celina to Anna, builders are delivering stunning new communities with modern floor plans, smart home technology, and resort-style amenities. New construction opportunities are everywhere.
Price Appreciation
Collin County home values have appreciated significantly, with the median list price reaching $519,900. Buying here is not just finding a home — it is building long-term wealth.
Best Life, Collin County
Multiple Collin County cities rank among the best places to live in America. From historic downtown McKinney to the luxury master-planned communities of Prosper, there is a lifestyle for everyone.
The Home Buying
Process.
Buying a home involves many moving parts — but it does not have to be overwhelming. Here is exactly what to expect, step by step, so you can move forward with confidence.
Get Pre-Approved for a Mortgage
Before you tour a single home, get pre-approved. A pre-approval letter tells sellers you are a serious, qualified buyer — and in a competitive market like Collin County, that matters. Through our in-house mortgage company, we can get you pre-approved quickly at competitive rates, all under one roof. No juggling multiple lenders or waiting for callbacks.
Gather pay stubs, W-2s, bank statements, and tax returns before applying
Aim for a pre-approval — not just a pre-qualification — for stronger offers
Our in-house mortgage team streamlines the process from day one
Define Your Budget and Must-Haves
Know what you can comfortably afford before you start looking. Your monthly payment should include principal, interest, taxes, insurance, and HOA — not just the sticker price. Make a list of must-haves versus nice-to-haves. This keeps us focused and ensures every showing is worth your time.
Budget 28–36% of gross monthly income for housing costs
Factor in Collin County property taxes, which typically run 1.8–2.4% of assessed value
Consider commute times, school zones, and future growth corridors
Start Your Home Search
This is the exciting part. I set up personalized searches based on your criteria and schedule showings that match your needs. We compare neighborhoods, builders, and communities across Collin County — from McKinney's historic charm to Prosper's master-planned luxury. You focus on the feeling; I handle the data.
Visit neighborhoods at different times of day to get a true sense of the area
Check school ratings and feeder patterns even if you do not have kids — they affect resale value
New construction model homes are great for comparing builders side by side
Make an Offer
In a competitive market, the right offer strategy is everything. I use real-time comparable sales data and market insights to craft offers that get accepted while protecting your interests. From earnest money to option periods, every clause is designed to keep you safe.
Earnest money in Collin County typically ranges from 1–2% of the purchase price
An option period gives you the right to terminate for any reason — do not skip it
I negotiate repair credits, closing cost contributions, and favorable timelines on your behalf
Home Inspection
The inspection report is where a lot of buyers panic — but it is actually designed to protect you. An inspection report can look scary, but most issues are cosmetic or maintenance-related. I walk you through every item, separate the critical from the cosmetic, and negotiate repairs or credits with the seller.
Standard inspections cost $400–$600 in Collin County and take 2–4 hours
Consider specialized inspections for foundation, sewer scope, or pool if applicable
Most inspection findings are negotiable — we handle that for you
Appraisal
Your lender orders an appraisal to confirm the home's value supports the loan. If the appraisal comes in at or above the purchase price, you are in great shape. If it comes in low, I prepare comprehensive market data to support the home's value or negotiate a price adjustment.
Low appraisals are more common in rapidly changing markets — I have navigated thousands of them
Comparable sales data and market context can often resolve appraisal gaps
Do not panic if the appraisal is low — it is a negotiation opportunity, not a deal-killer
Closing Day
Final walkthrough, signing, and keys. I coordinate with the title company, lender, and seller's agent to make sure everything is on track. You show up, sign the papers, and get your keys. It's Showtime! Welcome to your new home.
Bring a valid government-issued photo ID and a cashier's check or wire for closing funds
Do a final walkthrough the day before or morning of closing to verify repairs and condition
Closing typically takes 30–45 minutes — I will be there with you every step of the way
First-Time Buyer
Resources.
Buying your first home is one of the biggest financial decisions you will ever make. The good news? You have more options than you think — and you do not have to navigate this alone.
The Bottom Line
You do not need 20% down. You do not need perfect credit. Texas has programs designed specifically to help first-time buyers get into homeownership. Through our in-house mortgage company, we make it seamless — from pre-approval to keys.
Down Payment Options
Your down payment depends on the loan program — and there are more options than most people realize.
FHA Loan
Min. 580 credit score
Conventional
First-time buyer programs
VA Loan
Military & veterans
Closing Cost Expectations
Closing costs in Texas typically run 2–5% of the purchase price. On a $500K home, that is $10,000–$25,000. However, through strategic negotiation, I frequently get the seller to contribute toward your closing costs — saving you thousands. This is one of the areas where having an experienced agent pays for itself.
Texas First-Time Buyer Programs
Texas offers several programs to help first-time buyers overcome the biggest hurdle — the upfront cash needed for a down payment and closing costs.
-
My First Texas Home (TDHCA) — 30-year fixed-rate mortgage with up to 5% of the loan amount in down payment assistance. Minimum 620 credit score required.
-
Texas Mortgage Credit Certificate (MCC) — A federal tax credit of up to $2,000 per year for qualifying first-time buyers, reducing your annual tax burden.
-
FHA + DPA Stacking — Combine an FHA loan with down payment assistance programs for as little as $500–$1,000 out of pocket in some cases.
What Credit Score Do You Need?
Your credit score determines which loan programs you qualify for and at what interest rate. Here is the breakdown: FHA loans require a minimum of 580 (for 3.5% down). Conventional loans typically look for 620+. VA loans have no official minimum, though most lenders require 580–620. Not sure where you stand? Our in-house mortgage team can review your situation and find the best path forward.
New Construction
or Resale?
Collin County offers both brand-new construction communities and established resale homes. Each has distinct advantages — and the right choice depends on your priorities, timeline, and budget.
New Construction
Advantages
- Modern floor plans with open concepts and smart home features
- Builder warranties covering structural, mechanical, and systems
- Customization through design center selections
- Energy-efficient construction with lower utility bills
- No competing with other buyers for the same property
- Brand-new everything — no deferred maintenance
Considerations
- Construction timelines can extend 6–12+ months
- Builder contracts are typically less negotiable than resale
- Neighborhoods may feel less established initially
- Design center upgrades can add up quickly
Resale Homes
Advantages
- Move in within weeks, not months
- Established neighborhoods with mature landscaping
- More room for price negotiation and seller concessions
- What you see is what you get — no surprises
- Proven property values with established comps
- Often in more central, developed locations
Considerations
- May need updates or renovations to match modern standards
- Deferred maintenance items can surface during inspection
- Older homes may have higher utility costs
- Competitive market — desirable listings move fast
Chad's New Construction Expertise
New construction is one of our core specialties. We work directly with builders across Collin County — from production builders to custom luxury builders — and understand the process from lot selection through design center appointments, construction milestones, and final walk-through. We know which builders deliver quality, where the best values are, and how to negotiate incentives that save you money. Whether you are looking at a new community in Prosper, Celina, or Anna, our builder relationships and process expertise protect your investment.
Collin County
by Budget.
Collin County offers something at every price point — from first-time buyer communities to ultra-luxury estates. Here is what your budget gets you across the county.
$350K – $500K
Excellent entry point for first-time buyers and growing families. This tier offers newer construction communities with modern floor plans, community amenities, and access to top-rated ISDs.
$500K – $750K
The sweet spot for move-up buyers and families wanting more space. Expect master-planned communities with resort-style amenities, larger floor plans, and prime school district access.
$750K – $1M
Premium homes with custom finishes, larger lots, and exclusive community amenities. This tier represents true luxury living in Collin County's most desirable neighborhoods.
$1M – $2M
Estate-level properties with premium finishes, gated communities, and exceptional craftsmanship. Collin County's luxury market offers tremendous value compared to other major metro areas.
$2M+
The pinnacle of Collin County luxury. Architectural masterpieces, gated estates, multi-acre properties, and custom homes built to the highest standards. Chad's luxury expertise and network deliver access to the finest properties.
Why Work
With Chad?
With so many agents out there, everyone needs a real one. And that is what I am here for. Here is what sets us apart.
20+ Years & 1,000+ Homes Sold
Two decades of experience in Collin County means I know every neighborhood, every builder, every school district, and every market cycle. I have seen it all — and I bring that knowledge to every transaction.
In-House Mortgage Company
Our in-house mortgage team means one team from home search to closing. No juggling multiple lenders, no miscommunication, no delays. We handle the financing so you can focus on finding the right home.
Problem-Solver & Client Protector
Inspection issues, appraisal challenges, survey problems, financing hiccups — I specialize in solving problems immediately rather than scheduling an appointment several days out. Sellers and buyers alike face stress, fear, and hesitation. I have successfully helped clients avoid lawsuits and navigate the toughest situations.
New Construction & Luxury Specialist
From first-time buyers to luxury estates, from new construction to resale — I cover the full spectrum. My specialization in new construction gives you direct builder access, incentive negotiation, and process expertise that most agents cannot offer.
Collin County Native
I grew up here. I know the schools, the growth corridors, the hidden gems, and the developments that are about to take off. That local knowledge translates to better decisions for you — whether you are buying your first home or your fifth.
Questions Buyers
Ask.
Do I need a realtor to sell or buy my house in Texas?
Technically, no — Texas does not require you to use a real estate agent. But here is the reality: real estate contracts in Texas are complex, and the process involves inspections, appraisals, title work, financing, and legal disclosures. A single mistake can cost you thousands or lead to lawsuits. With 20+ years and over 1,000 transactions, I catch issues before they become problems and negotiate to protect your interests.
How much do I need for a down payment?
You do not necessarily need 20% down. FHA loans require as little as 3.5%, conventional loans can go as low as 3%, and VA loans offer 0% down for eligible buyers. Texas also offers first-time buyer programs with down payment assistance. Through our in-house mortgage company, we help you find the right program for your situation.
How do I get my closing costs paid for?
In many transactions, the seller can agree to contribute toward your closing costs as part of the negotiation. This is a common strategy, especially for first-time buyers. I negotiate seller concessions on a regular basis — it is one of the things I specialize in. Closing costs typically run 2–5% of the purchase price, so getting the seller to cover even a portion can save you thousands.
What credit score do I need to buy a home?
It depends on the loan program. FHA loans require a minimum of 580 for the 3.5% down payment option. Conventional loans traditionally look for 620+, though requirements are evolving. VA loans have no official minimum, but most lenders require 580–620. Through our in-house mortgage team, we can review your situation and find the best path forward.
How is buying a luxury house different?
Luxury purchases in Collin County ($750K+) involve more nuance — longer negotiation timelines, custom builder relationships, detailed inspection protocols for premium finishes, and specialized financing. My luxury experience and network give you access to off-market properties, builder incentives, and a process designed for high-value transactions.
What should I do before looking to purchase a house?
Get pre-approved (not just pre-qualified), define your budget and must-haves, check your credit report for errors, save for earnest money and closing costs, and connect with a trusted agent. That last part is where I come in — and the rest is already taken care of.
Ready to find
your home?
Whether you are a first-time buyer, looking to upgrade, or relocating to North Texas — I am here to make the process smooth, stress-free, and successful. Let's go!
Phone
972-658-7462