When it’s time to finally start looking for homes for sale in Westminster CO, you may feel a bit of pressure. The challenge of locating a neighborhood, city, and street that matches you and your family’s needs can be difficult and stressful, especially if you’re a first-time home buyer.
The real estate journey for each buyer is unique and you’re likely to go through several ups and downs before you finally close on the home of your dreams. The details and complications that come from purchasing luxury properties can be quite a big undertaking. With this guide, we’ll help you to conduct a home search with confidence.
Keep your budget in mind
While you may have a sense of excitement when thinking about the home-buying process, it’s equally important to be realistic. Plan a budget early and share your maximum purchase price with your agent. Start saving early and make sure to account for the following charges:
- The down payment. Use an online calculator to determine what you might have to pay. This figure will vary with your credit score, your mortgage lender, and your type of loan.
- Move-in expenses. This cost can be difficult to predict, but consulting with your agent to get a good range of how much you can expect to spend can be helpful.
- Home repairs. Unless you’ve negotiated with your seller that they will complete all repairs prior to moving in, you may have to spend money to update and upgrade the home to your liking.
- Closing costs. These usually vary from 2% to 6% of the total cost of your loan — though you may be able to get the seller to pay for a portion, if not all, of your closing costs.
List your non-negotiables
- Do I need a large backyard space for a growing family or pets?
- How close do I want to be to nearby grocery stores, banks, and shopping centers?
- How far am I willing to commute to work?
- How much square footage do I need in a home in order to live comfortably?
- Would I prefer to have lots of land or a smaller lot with less upkeep?
- Do I expect to host guests frequently and need room to accommodate them?
- What kind of neighbors, traffic, noise, and multifamily buildings do I want nearby?
- How much energy and money am I willing to put in to fix up a home that’s not move-in ready?
Be specific about the home layout you want
Consider how you’ll use the home. If you work from home, make sure there’s going to be space for a home office. If you have several cars in your family, you’ll certainly want a large enough garage. Are you okay with living on multiple floors, or will that cause issues for some of your visitors or family members? It’s also beneficial to think long-term. If you’re planning on growing your family or welcoming in renters, you should plan for that extra space as well.
Don’t go at it alone
They’ll also stand by you when you start touring open houses. As a first time home buyer, there’s a good chance you might miss out on asking the right questions about a home that could sway you into or out of a deal. Shopping for a home is a complex process that’s always best done with the guidance of a professional real estate specialist at your side.