Buying a home is one of the most expensive purchases you can make in life, and if that home is in Denver, this can be a life-changing investment. Once you own a home, you will unlock a new level of equity from the real estate market. However, purchasing a home in Denver is not a walk in the park because buyers must get their things in order before searching for open houses. The buying process can be daunting, especially for first-time or experienced homeowners who have not purchased a home for years. Here is a comprehensive guide on buying a home in Denver.

Explore Your Priorities

The first thing to ask yourself is how you want to live in Denver and how your home can complement your goals. For example, if you want a space for outdoor gear, a home with garage space in Westminster is perfect. On the other hand, a condo in Capitol Hill is excellent if you love strolling around bars, restaurants, and museums. Other questions to help you know your perfect home include how long you plan to live in the home, how much you are willing to pay for a home, and the best time to buy a home in Denver.

Build Up Your Savings

Before starting your home search, consider whether you have sufficient savings to invest. Even if you are buying your Denver home using a mortgage loan, you will need to cover plenty of other fees, so it’s essential to start accumulating savings early. The down payment can be up to around 20% of the total home price, depending on your type of mortgage and monthly loan payments. It would help if you also considered the cost of home inspection, loan origination, title, escrow, and broker fees.

Find A Reputable Real Estate Agent

When finding the perfect agent, inquire about their experience buying and selling homes in Denver, the type of homes they usually sell, and the number of deals they close annually. Other than helping you navigate the buying process, your agent should be able to supplement your home-searching efforts with automated home-searching tools. A reputable agent like the Trish & Maggie Team will ensure you navigate the home buying process seamlessly.

Submit Your Offer

You can make offers once you have a mortgage pre approval letter and have hired a good buyer’s agent. You need to craft a solid bid to persuade sellers. Your real estate agent will help you negotiate the best price possible.

Get Home Inspections and Appraisals

While it’s not compulsory to do a home inspection in Colorado to buy a home, it’s recommended that buyers do an older home inspection to ensure there are no hidden issues. A home inspector can find hidden problems in an otherwise perfect home, saving you thousands of cash. If your home inspector gives a good report, you can move forward with closing the deal. Your mortgage lender will request an appraisal of the home to ensure the actual home value validates the buying price. Once the lender receives the appraisal, you can close the transaction.

Buy Your Dream Home in Denver with the Trish & Maggie Team    

With these tips, you can navigate the competitive Denver real estate market. Even better, the Denver CO real estate experts Trish & Maggie Team is ready to walk with you and offer expert guidance throughout the journey. The team understands the ins and outs of the Denver housing market and will help you find and own your dream home. Reach out today to get started.