So… You’re ready to embark on the exciting journey of buying your first home in the vibrant city of Denver. Buckle up and get ready for an adventure filled with house hunting, paperwork, and plenty of excitement. To help you navigate the process like a pro, I’ve put together a comprehensive guide on how to prepare for the home buying process. Let’s dive in and make your dream of homeownership a reality!

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Start with a Solid Foundation: Timing is Everything – The home buying process begins with timing. While it’s never too early to start exploring your options, it’s crucial to assess your financial readiness and personal circumstances before diving into the market. Factors like stable employment, a good credit score, and a down payment saved up can play a significant role in determining the right time to start looking for your dream home. Pro-tip: What you pay in rent is not equal to how much house you can afford. Other things come in to play, (PITI) Principal, Interest, Taxes, & Insurance. Pro-pro-tip: New Construction taxes can be anywhere from 1%-1.5%ish in Colorado. So that new build you scored for $500,000 means your taxes alone are anywhere from $5,000 – $7,500 a year. Gross. I know… But buying a home is the #1 way to secure financial independence and build wealth. It will always be worth it.

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The Power of Preapproval: Get Your Finances in Order – Before you start browsing listings and attending open houses, obtaining a preapproval is a crucial step. Contact a reputable lender (I’ve got a few who I love to work with) and provide them with the necessary documents to assess your financial situation. Once preapproved, you’ll know how much you can afford, giving you a clear picture of your budget and strengthening your position as a serious buyer. Another thing to note, that I’ve mentioned in a few other posts, is that you really should stray away from the bigger real estate websites… You know which ones. It’s fine to look and daydream, but a lot their information can be misleading, outdated, or flat out wrong.

When you start to get serious about making moves, have a realtor (i.e.; Me) set you up on as auto-search that really hones in on what will meet your needs. We can get crazy particular with it too, I’m talking… Oh, you don’t want to look at this street, cool… doesn’t exist in our results. You only want a house that was built in 1922? You got it. The tools realtors have at our fingertips can make sure you are only seeing what works for you, and filters out all the crap that doesn’t make sense for you.

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Making an Offer: The Art of Negotiation – When you find the perfect home, it’s time to submit an offer. Your realtor (i.e.: Me) will guide you through this process, helping you determine a competitive price and crafting an enticing offer. Keep in mind that negotiations may ensue, and you might need to submit multiple offers before one is accepted. Don’t fret! We advocate for your best interests and help you navigate the back-and-forth with finesse. It’s in our duties and responsibilities… we got you boo. In a perfect world, the selling agent will be able to have informative conversations with me, let us know the sellers motivations, and then we can figure out what the meting point is and we can get our offered accepted as soon as it’s sent over. But… back in the day (2021) I was used to writing 10+ offers for one client before one was even considered… those were dark times for buyers and agents. Luckily we’ve weathered that storm and were back to smoother waters. You’re the captain now.

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Offer Accepted! What’s Next? – Once your offer is accepted, it’s time to celebrate! Mostly. But there’s still work to be done. First, you’ll enter into the due diligence period, during which you’ll conduct inspections, and other kinds of tests like radon, sewer scopes, roof inspections, mold, and sometimes air quality and meth testing. I hate that it’s a thing… but it’s there for a reason and we can decide what all we want to have done. We’ll also review the seller’s property disclosures, and finalize your financing. Aka, making sure you still have your job and your paystubs are up accurate and more fun stuff. This is your opportunity to ensure the home meets your expectations and address any concerns that arise. Your Realtor (i.e: Me, again) will guide you through this critical phase and help coordinate necessary inspections and negotiate any repairs that need to be made. Pro-tip: Seller’s Property Disclosures are required on all homes, unless it’s an estate kind of situation where the owner passes away and is being sold by someone who hasn’t been living in the home. A SPD contains all material defects, like if there was ever a flood in the basement, a fire, and little nuances of the home that the owner knows about. It’s a big no-no to lie on these, so just… don’t do it okay sellers?

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Preparing for Closing: The Final Stretch – As closing day approaches, there are a few important tasks to take care of. First, secure homeowners insurance to protect your investment. Sometimes you can bundle this with car insurance too and save some dollars there, and it’s always worth shopping around too. We’ll gather the necessary documents for the closing process, including identification, financial statements, and proof of insurance. Your Realtor and lender will provide a checklist to ensure you have everything in order. Send me a message, and I’ll gladly send you my pre-closing checklist:) And don’t forget to schedule utilities, internet, and other essential services for your move-in day. And please, for the love of all that is holy… DO NOT switch jobs, or buy all new furniture or a new car to sit in the drive way of your new home… Wait until you have your keys. I have seen many broken hearts because of these things, because depending how wild you get with it, they can drastically affect your DTI. Does it happen every time? No. But just talk to your lender first before making any big purchases or changes.

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Closing Day: Sealing the Deal – The big day has arrived! Closing day is when the final paperwork is signed, and ownership of the home officially transfers to you. Bring your identification, get your wire transfer in order for your cash to close, (can sometimes be a certified check) and your excitement! Your Realtor, lender and closing agent will guide you through the documents, explain each step, and ensure that all necessary funds are properly disbursed. We are there to celebrate with you, and trust us when we say we are just as excited as you are to be buying a home. It when all your hard work, countless showings, all the drive time, sleepless nights and preparation actually pays off, and your home is now tangible. Yeah that’s right, it’s allllll yours! Congratulations, you’re officially a homeowner!

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The Sweet Taste of Victory: Settling into Your New Home – After closing, it’s time to celebrate your new status as a homeowner. Take a moment to savor the achievement, but remember, there are still a few tasks to tackle. You may still need to transfer utilities or any necessary services into your name. Consider scheduling movers or making arrangements to transport your belongings. Take the opportunity to deep clean and make any desired improvements before moving in if you can. It’s your chance to personalize your new space and make it truly feel like home. I like to try and plan for a few days to move out and in to a new place. You can take breaks to walk the neighborhood, go have lunch or dinner at that new place down the street from your house, see which coffee shop you want to try, and just finish the next day. Let’s face it… moving sucks. Give yourself some grace and allow time to not feel rushed.

The home buying process is an exciting adventure that requires preparation, patience, and the guidance of a knowledgeable Realtor (i.e: MEEEE). By understanding the steps involved, from preapproval to closing day, you’ll be better equipped to navigate the process with confidence. So, get ready to embark on this exhilarating journey, armed with the knowledge and support needed to find your dream home in the beautiful city of Denver.

Remember, a sense of humor and a positive outlook will go a long way in making the experience enjoyable. Trust your Realtor, ask questions, and embrace the thrill of becoming a homeowner. Get ready to unlock the door to your new abode and create memories that will last a lifetime.

Happy house hunting, future homeowners!