What to Know When Buying A Home in Denver
Vetting Your Real Estate Agent
Anyone can get you four walls and a roof. But only the right real estate agent can help you find the perfect place to call home. When buying a home in Denver, it is important to find an agent who seamlessly fits into the culture of your family so they can best advocate for you through the process of buying a home. Don’t just settle for you sister-in-law’s first cousin once removed because they could really use the sale. Rather, interview professionals who are entrenched in the Denver market. Upon finding the right fit in a real estate agent, you can move forward in the process of buying a home in Denver.
Understand Your Budget
It is important to know how much home you can afford before you get into touring potential properties. This seems obvious, we know, but it is an essential step in the process of buying a home in Denver. You don’t want to simply have a rough estimate of how much home you think you can afford. This can lead to unnecessary stress when it comes time to make mortgage payments that are outside the scope of your monthly expenses. Conduct a thorough financial analysis prior to meeting with a lender so that you can have an informed conversation about what kind of financial support you’ll need. Check out our Resources to get more information about your finances and the amount of home you can afford.
Find The Right Lender
Once you have a detailed understanding of your finances, you can begin vetting lenders to find someone who is the right fit. More often than not, finding the right lender provides the keys to the castle when you are looking to buy a home in Denver. Just like you interviewed real estate agents, you will want to interview lenders to find someone who can provide you with the expertise and support you need. Most real estate agents have relationships with lenders and can make recommendations so you can start the home buying process on the right foot.
Pre-approval can be highly beneficial when you are buying a home in Denver. The real estate market is competitive and pre-approval from your mortgage broker can make or break your offer when there’s a number of other people considering the home of your dreams. If you can get pre-approved, do it. Your home buying experience in Denver will be much more enjoyable, we promise.
Scope Out The Neighborhood
The perfect property is not perfect if you don’t love the neighborhood it’s in. Denver is an eclectic city that is rich in culture, so it is important to find a neighborhood that makes you feel at home. Additionally, you’ll want to research nearby schools, look at the safety and crime statistics, and identify the nearest hospital, pharmacy, grocery store and other amenities that you’ll use. All of these factors can affect your home value when it is time for you to sell.
Solidify A Timeline
The more information you can provide your real estate agent, the better when you’re buying a home in Denver. Your timeline for closing will be an important factor in your agent’s ability to negotiate on your behalf. Factor in home renovations, moving timeline, seasonality, and anything else that may impact the timeline of buying your home and keep your agent in the loop.
Buying a home can be an emotional process, but it is important not to lose sight of the end goal. Once you complete the process of finding a real estate agent, getting a home loan, and identifying your perfect property - you will have a new place to call home. Remember to have fun because buying a home in Denver is one of the most exciting decisions you can make.
Buying A Home In Denver With DTC Davis
If you’re ready to buy a home in Denver, Chris Davis and his excellent team are ready to help you navigate the process. Contact us today to learn more about the Denver market and get ready to find your dream home in the Mile High city.