6 Things You MUST Do Before Buying Your Denver Home
Once you make the decision to buy a Denver home, you suddenly want to move as soon as possible. Many people get so excited that they make rushed decisions. This is something you want to avoid doing. This is a really big purchase, so use this list to make sure you are prepared.
- Pick an Area – Determine an area where you want to live first. This way, you don’t fall in love with a Denver home and then figure out property value is dropping there fast. This will save you and your real estate agent a lot of time and frustration.
- Hire an Agent – Speaking of agents, it is a good idea to have one. Ask friends and family for referrals, but don’t be afraid to talk to a few you find on your own, as well. Just because someone else had a great experience with someone does not mean they are the right person for you.
- Get Acquainted with Your Credit – If you haven’t pulled a credit report lately this should be one of the first things you do when you decide to move. You wouldn’t believe how many people find errors that need disputing. Most approved disputes take about 30 days to adjust on your credit report. A score of 750, or higher, will get you the best rate.
- Secure Financing – Getting prequalified is great, but getting approved is even better. It allows you to shop with confidence, knowing that you are certain you will be able to close when you find the perfect Denver home.
- Define Your Needs and Wants – When you start house shopping, you want to focus on finding a Denver home that accommodates your list of needs, and if that home also covers some of your wants it’s an added bonus. For example, four bedrooms for your family is a need, while a large bay window in the kitchen is a want.
- Figure Out How Much You Can Afford – Just because a lender approves you for a certain amount does not mean that’s how much you can comfortably afford. Maybe you like to take luxury vacations or you are saving up for your child’s college tuition. Using a mortgage calculator can be very helpful. Banks use a debt-to-income ratio to determine what they feel you can afford, but you know your spending habits.
Buying a new Denver home should not be a race to the finish. Even if you have a deadline, you need to take the time to properly prepare. This purchase begins the next chapter in your life. It shouldn’t end with you being full of regret. This list will help ensure you are not disappointed with your decision.