If you are thinking a buying a home, help is at hand! Please see the video above to get you started, and I have added below a fun, but realistic concept of what also to expect when buying a home. You can certainly check out the latest listings in Denver but is this the first place you should be looking ???
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THE TEN COMMANDMENTS FOR HOME BUYERS
- THOU SHALT FIND YOURSELF A REALTOR. I may be biased on this issue, but for the life of me, I can’t understand why any one would even consider buying a home without representation. A good REALTOR will become your most essential advocate and adviser. And it’s FREE TO YOU! NO BRAINER! Shop around, find someone you click with and trust, if you happen upon someone you don’t like, don’t be afraid to open up a discussion or find yourself another agent. AND don’t bristle when your agent asks you to sign a Buyer Rep agreement. If your agent isn’t formally representing you, then the agent is representing the seller by default.
- THOU SHALT GET PRE-QUALIFIED FOR A LOAN. This should be the first thing you should do before looking at one single house. Get your lender to give you a “pre-qualification letter” and give a copy to your agent. Lots of sellers want a copy when you submit an offer, it gives your offer more strength. It’s not difficult, not time-consuming, a good lender can do it over the phone and get you a letter the same day!
- THOU SHALT NOT BUY ANYTHING BIG while home searching. Purchasing anything BIG on credit, affects your credit score so wait until after you close!
- THOU SHALT GET A HOME INSPECTION. I STRONGLY recommend that you get one, there’s almost no reason not to. There is a cost but its relative to the potential money you’ll spend … you won’t regret it.
- THOU SHALT NOT CHANGE JOBS while home shopping, this also affects your credit score so hang on a little longer, you can do it!
- THOU SHALT SAVE SOME MONEY. Back in the day you may have been able to get a 100% loan and maybe get in a house with little or no money. Now, you will have to have some money for a down-payment and closing costs. So save those pennies for a rainy day!
- THOU SHALT PLAY FAIR. Your goal should be a win/win for both parties. This DOES NOT, mean that you can’t get a great deal on a home. This attitude just makes the entire process go smoother and easier. If you’re goal is to gouge the sellers, squeeze every drop of blood out of the homeowner and go looking for a fight at every turn, be prepared for a very frustrating experience. AND you may not even come out ahead or even get the home you want. Seller’s DON’T have to play with you if they don’t want to (and neither do agents!).
- THOU SHALT HAVE A GENERAL IDEA OF WHAT YOU WANT. You should have a sit-down, heart-to-heart talk with your significant other and come to an agreement about a few basics. How many bedrooms, bathrooms, what area of town, what school district, do you need a formal dining room, fireplace, island kitchen, newer or older home, big yard or small yard, etc. You’d may be surprised how things evolve when you start the dialogue about WANTS and NEEDS!
- THOU SHALT NOT GET TOO BIG FOR THY BRITCHES. Be realistic in what you can afford .. when looking at million or half million dollar homes, do you really need it? Can you afford it? Do you need 5,000 square feet? Do you need 5 bathrooms. Do you need a big home for entertaining? Think long and hard how much you want to spend each month and make sure you’ve got money left over for other things in life. There are other things in life you know, like college for your kids, vacations with your family, retirement, you know …LIFE happens! You don’t want to end up hating your home because it takes all of your cash each month with nothing left for anything else.
- THOU SHALT MAKE A MOVE WHEN THE MOVE IS RIGHT. Ok, this is for all of you marathon shoppers out there and those of you who can’t make a decision. You know who you are! When you’ve carefully looked at your options, found a home that has everything (or almost everything, remember no home is 100% perfect) you are looking for, negotiated a great price, JUST DO IT! If you snooze, you lose. Make your move! Then be prepared for “buyer’s remorse” or “cold feet”, you’ll get it, trust me… just turn over and go back to sleep, it will be fine