If you want to become a Denver homeowner, you should do your homework on the market and your purchasing possibilities. It’s a large metropolis with fantastic neighboring suburbs. However, because a home is an investment, you must love more than simply the house you are purchasing. Before you make the move, please consider a few things first.
Understand the Denver real estate market
When purchasing a property, it is critical to have a thorough understanding of the Denver real estate market. You want to be sure that the property you choose will increase in value over time so that you can get the most return on your investment.
Take a look at the December 2021 Market Update to get more familiar with the current market.
Get to know the best Denver neighborhoods
If you’re looking for a suburb that has low unemployment, high home values, low poverty, and a lot of things to do, you may want to consider North Commerce City.
Consider Colorado school districts
If you have a family or are thinking about starting a family, you’re going to want to consider Colorado school districts. In the Denver area and surrounding suburbs, there are many schools to choose from.
You must live within county lines to attend a school in a top-rated school district. Many schools have waiting lists or lottery systems in place to get a desk, so do your research before deciding on a house or neighborhood. Also, don’t forget to look into charter schools, which are plentiful in Colorado and the Denver area.
Know your buying power
If you’re a first-time homebuyer, you might not have enough money to make an offer on the house you really want. Don’t be concerned. Down payment assistance options are available in Colorado. A good place to start is the Colorado Housing and Finance Authority (CHFA). Over 110,000 Coloradans have become homes thanks to their efforts.
If you can’t qualify for down payment assistance, try an FHA loan, which requires just 3.5% down. It’s even backed by the federal government. Your monthly payment will include mortgage insurance but the lower deposit and opportunity to start earning equity can make the trade-off worth it.
Calculate your commute
Also, know how long it takes you to get to and from work. To and from, that is correct. It’s possible that your morning drive will be faster than your nighttime drive. The last thing you want is to spend money on a beautiful new home only to be unable to enjoy it because of a two-hour drive to and from work.
Last but not least, while it’s true that anyone can shop for a house, and even get a peek inside, without formally signing on with a real estate agent. But unless you have time to make home shopping a part-time job, an agent might be able to match you with the perfect property much faster.
Schedule your consultation today.
Let’s get you into your new home in Denver!