First, decide what you can AFFORD for your family. This is EXTREMELY important as it will determine our criteria. We want the most we can get for your money; after all, it is the most important purchase you will make! Be realistic in how much area you need; how many beds and baths; do you REALLY want a monster yard? (You have to mow it…)
Second, decide on what you like in a floor plan. You have to be realistic in the design – does it hold with the first item? If this is your first home remember, you might be selling this one for exactly what you want later! Number of bedrooms and bathrooms is important, especially if your family is growing but, you have to be able to afford it without being “house poor.” That’s important…
Pick out your dream plan and then work to make it work for your budget. There is a home for everyone out there; it just might take a minute to find it and make it work.
Third, pick an area where you want to live. If you’ve lived in Denver awhile, you probably already know. Next question, can you afford that area? Gotta be real! You can start somewhere and move elsewhere… don’t panic; it’ll be okay!
If you’re new to the Denver, don’t rush to buy. Please, take time to travel the metro area and acquaint yourself. REMEMBER, it takes easily ½ hour to an hour to get ANYWHERE in the metro area. No kidding. And at rush hour, longer. Locate as close as you feel comfortable to your work area. It’ll make life a little less stressful.
Fourth, HAVE YOUR FINANCES IN PROPER ORDER!! KNOW how much you can afford by getting pre-approved by your Lender. I use Universal Lending – they always get the loan done. You are not required to use any of the people we discuss, okay? Have a serious idea of what you WANT to afford every month, not how much you CAN afford every month. Keep your focus within that range and you’ll be fine.
Last, don’t dig your feet in with “I have to have it just this way” because you might not. Price is an effective way of setting realistic goals. I don’t mean that harshly; I mean it truthfully. Don’t be so set that you miss an opportunity. Yes, strive to find what you want. Look at property on line; look around areas you like. Work to find what you want. But, don’t overlook what you can make into what you want. Pricing might be better for you; less pain every month and so on. Once you find what you want, “PULL THE TRIGGER.” In this market, it might well be under contract the next day.
If you want, take a friend with you who knows construction. Ask them to “inspect” it as we tour. It’ll save you time with your decisions.
If you are one of the lucky ones where all the stars align and you find EXACTLY what you want, DO IT. If you don’t find exactly what you want, it’s okay. You can buy what fits the majority of your desires or, we’ll just keep looking. That’s why your hire a Realtor – we keep working for you.