If you are planning to buy a home within the next year, there are steps you can take now for an easier home buying experience.
Learn about Colorado Springs neighborhoods
When you purchase a home, you’re not only considering a house — you’re also looking for a neighborhood that fits your family. Whether you are looking for an active community, access to downtown or the mountains, or a quiet home to retire, make sure you find a neighborhood that meets your needs.
Start by learning about Colorado Springs. Then learn more about the Colorado Springs Neighborhoods. Schedule visits to the neighborhoods where you are considering purchasing a home. With an early start, you can scope out multiple areas and get to know the ones that will fit your lifestyle best.
Start saving for a Down Payment
Make small changes to start setting aside more money for a down payment on your new home.
You don’t have to give up all your coffee, or beer, or new shoes to save for a down payment. Making small changes at home can add up to big savings.
Most financial advisers recommend putting 20 percent down on a home mortgage, but there are many lenders that require less depending on the home loan. Talk to your REALTOR® and local mortgage professional for a more accurate estimate. While you may not be ready to get pre-qualified or pre-approved, having this conversation ahead of time helps you know where you stand – and where you want to be – before you purchase a new home.
Connect with a REALTOR®
A local real estate agent is the best place to start your home search. Even if you’re not yet ready to seriously consider homes, your real estate agent can help you get to know the housing market in Colorado. They can also provide relevant resources about purchasing a home, recommend steps to take if you’re planning on selling your home next year, and set up custom searches based on your home wish list.
Start your Home Search
Even if you’re not ready to purchase now, starting your home search early can help you learn about your preferences and prepare you when it is time to start seriously looking. Browse homes for sale directly from the Pikes Peak MLS and think about the features that you love (or ones you dislike). Use the “Save Search” function to start making a lookbook of homes you like to share with your real estate agent. Write down a “wish list” and a “must-have” list of features too.
Buying a home requires a lot of preparation. An early start and the right resources can make the home buying process less stressful when you’re ready to find your Colorado home. Before holiday festivities sweep you away, think about the things you can do now to prepare for buying a home in Colorado next year.
Saving for a down payment is a great start. But it’s not the only money you’ll be responsible for once you make an offer on your dream home. Take a look at our guide on Preparing for the Cost of Buying a Home, and learn to plan for the unexpected.
Closing date fast approaching? Remember to knock out the Property Checklist before the movers arrive.
We are experts in the steps of homebuying. Could you use a little guidance from a pro? We’re happy to help!
Adapted from https://cohomeblog.recolorado.com/planning-buying-home-next-year/