First Steps to Buy a Home

So you’re ready to purchase a home! It’s an exciting time and can be an overwhelming process. What are the first steps to buy a home?

Financing
  • The first thing you need to do is get your financial strategy in order.  This often means getting in touch with a lender. This should probably be done a few months before you actually want to start actively looking. Why? This gives you enough time for the lender to check your credit and tell you what you can afford, how much down payment you will need, and make you aware of any issues with your credit that might prevent you from acquiring a loan.
  • We recommend that our clients talk to several lenders. Not only to find the best relational fit for you, but also to shop for the best rates and terms for your loan.
  • If you are a first time home buyer, ask your lender about down payment assistance or other programs to help with housing affordability. Your lender can get you info about down payment assistance and see if you qualify. Not all lenders offer these loans, but these programs could enable you to purchase a home sooner than you think. Many of these programs require you to take buyer education classes. If you qualify, take these early so that you are prepared when you are ready to buy.
Your Ideal Location
  • Once you have your budget in mind and have your down payment set aside, it’s time to figure out where you would like to live. Drive around the neighborhoods that appeal to you. Check out the nearby amenities. Find the coffee shops, restaurants, and parks that will be an important part of your new life!
  • Decide what kind of home are you looking to purchase. A condo with a pool, a townhome with a garage, or a house with a yard? How many bedrooms and baths do you need? What size home would suit your needs best? Do you want a basement? Your real estate agent will help find you available homes in the areas you are interested in using all of these data points. Decide what is most important to you and have your agent focus on the “can’t live without” priorities.
Call 121 Realty
  • Your next step is finding a real estate professional that you feel comfortable with and has your best interests in mind. It doesn’t cost you as a buyer to use a Realtor. The seller pays those costs. So there is no reason NOT to have a professional advocating for you in the process.
  • We establish a portal for our clients that send you properties that fit what you are looking for in a home. Through this portal, you can also search for homes on your own with real-time accurate data from the Denver MLS.
Home Search
  • Now for the fun part. Get ready to look at homes! Don’t always make a decision to see or not see a property from the pictures. If the property fits most of the criteria and seems like a good fit, have a look! A home is more than checking the boxes of bedrooms and baths. It has to feel right and you can’t know unless you GO! And don’t forget – don’t get distracted by the carpet and paint. Those are easy fixes. It’s better to focus on finding a home in your ideal location and doing a little work to get it how you want it. Rather then finding the perfect home and not being happy with the location. You can change the house, not the location of the house.
  • Don’t worry if you don’t find the one your first time out. Sometimes it takes time depending on the market and what homes are available when you are looking, and how specific your criteria are.
Making on offer
  •  This is where your agent is critical. We will advise you on the specifics of your offer like purchase price, dates, things that are included with the home, etc. The current market will dictate all of these items and having our expertise on your side can make the difference between your offer being accepted or not.
  • Once your offer has been accepted, we will guide you in the next steps of completing the purchase of your home from inspections to closing. Click here for a step by step guide of what happens from offer to closing.

Your agent is a valuable resource to you during the home buying process. We do this every day and are the experts that will look out for your best interests and advocate for you every step of the way. Contact us to start your home buying journey.

 

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