If you’re considering buying a new home in Denver, there are many different things to consider. If this is your first time buying a house, congratulations! This is an exciting step in your life. We have compiled some advice from experts in the field so that you can go through the process with confidence. Here are tips for buying a new home in Denver, from real estate professionals in the area.
1. Don’t Pay Off Old Debt
You may think it is a good idea to pay off old debt before you buy a house. This isn’t a good idea. According to Brian G. Murphy, a former Colorado consumer attorney and Senior Loan Office of Front Range Mortgage, “paying off old collections can actually hurt” a buyer’s ability to qualify for a mortgage. He continues to say that “older collections (three to five years old) have a small impact on FICO score.” Remember to always consult with a professional before you make any financial decision as you prepare to buy a home.
2. Create a “Must-Haves” List
Before you start looking at homes, create a list of items you must have in your home. Be sure you discuss this with your significant other. You may feel like a spacious kitchen isn’t necessary, but for your spouse, a small kitchen may be a deal-breaker. Once you start looking, it’s easy to get overwhelmed. According to personal finance expert Suba Iyer, it is important to make a list of “your must-haves, nice-to-haves and other essentials…if you fall in love with the house and your checklist shows that the house has none of your must-haves, it will at least make you pause and think.”
3. Gain the Upper Hand in Denver
Denver is an extremely tough market: It’s not unusual for homes to sell for much higher than the asking price after a bidding war. There are ways to gain the upper hand, however. Kevin Risen, the executive vice president of Coldwell Banker Residential Brokerage of Colorado has a few tips. For example, you could offer to pay both real estate commissions. Or, you could appeal to the seller’s emotions by writing a personal note about who you are and why you fit into the neighborhood. And, one of the best things you can do is to get pre approved from a lender so that you can move on a house quickly once you find it.
Tips for Buying a New Home in Denver: Call Affordable Moving and Storage
We hope you’ve enjoyed these 3 tips for buying a new home in Denver. If you’re moving to the Denver area, don’t hesitate to contact Affordable Moving and Storage. We have years of experience, and have helped hundreds of families and individuals relocate seamlessly. Call us to learn more about our long-distance moving services, warehousing options, and packing services. We are here to make your move stress-free!