Buying a home is a very large financial investment and requires some commitment and responsibility. However, it's often a very thrilling and rewarding experience. I always feel privileged and delighted to see the excitement when I hand homebuyers the keys to their new Pagosa Springs home.
So, thinking about buying a new home yourself? I'll be there to help you every step of the way, but here are a few simple things to make sure your experience is a smooth one.
Before you shop:
Be a smart consumer. Learn the financing basics. Know how to shop for a home loan that's right for you.
Get pre-qualified. Start with a review of your finances and then work with a qualified mortgage broker or bank to get a clear picture of affordable home options. This takes very little time and helps you find the price range that fits your lifestyle.
Think about what you really want. The last thing you need is to close a deal and realize you bought a house you didn't want. Ask yourself what you're looking for in a home, before you shop. Consider items such as:
• How large does my home need to be?
• What would my work commute be like?
• How are the schools in the community?
• What kind of repairs am I willing to deal with?
• What is the overall community like?
Keep your debt load to a minimum. Don't make major purchases or incur any additional debt until after your purchase. Pay down credit cards and don't apply for new ones. Remember, lenders evaluate your financial situation on your gross monthly income.
Be prepared to view new properties quickly. Sometimes homes sell quickly, so be ready to make fast decisions.
Have instant access to Kim Moore, your EXIT Realty Associate. Instant communication can mean the difference in purchasing the property of your choice.
Before you buy:
Submit a strong competitive offer.
Be ready to include a substantial earnest money deposit if necessary. Sometimes offers are accepted based on the amount of the deposit.
Hire an inspector. A professional building inspector or appraiser will make sure the house of your choice is in satisfactory condition.
Check zoning regulations and covenants. Good residential neighborhoods will be zoned to keep out commercial and industrial users. Read any restrictive covenants and make sure they fit your lifestyle. Think about things such as irrigation, etc.
Request an updated property survey. Be sure it clearly marks boundaries. Check for problems.
Make sure you know what stays or goes.
Your contract should be very specific about which items (appliances, etc) are included in the sale.
Get agreements in writing. Make certain verbal agreements are written into the final contract to avoid any stressful and expensive issues later.
If you have any questions on buying a home in Pagosa Springs, I am available to answer them for you! Call Kim Moore at 970-946-5619.