Buying a home in today’s market can be stressful. When you finally find ‘the one’ it is hard to think about letting it go when a deal breaker is found. With the right team by your side, you will be able to troubleshoot these common deal breakers and make the best decision for you.
If you find that the home you love has an old roof, don't panic. We can work together to negotiate with the sellers. Would they be willing to split the cost or put in a claim on their insurance if they have hail damage? An old roof is a concern, but it doesn't have to be a deal breaker with creative negotiation and budgeting.
Older homes don’t always have updated electrical systems. Knob and tube or aluminum wiring can be a fire hazard and expensive to replace. However, we can use these findings as a negotiating tool to get the price reduced or closing costs covered. We'll determine the best way to move forward without breaking the deal. Consult with a certified electrician to determine the most pressing repairs and those that can wait.
During your inspection, your inspector will look at the indoor plumbing and functionality, but won’t usually look at sewer pipes. Just like many of the deal breakers on our list, plumbing issues can be a great tool for negotiation to get the price reduced, closing costs covered, etc. If plumbing issues are found, work with a plumber to assess the cost and time of repairs. Sewer line repairs can be the most costly, but they can sometimes be corrected with regular cleanouts.
Sometimes sellers do some quick upgrades without a professional or permits to help their home sell. When walking through homes with your agent, looks past the gloss and shine to the real details of recent remodels. If the workmanship looks shoddy but correctable and you love the home, talk to your agent about your options before you walk. We can pull permit records to see if there are any remodels on file. Additionally, a trusted contractor can help give you a sense of the quality of the work with a simple walkthrough. If there are too many repairs needed, it may be time to go back to the hunt.
Homes near a river or stream aren’t always in a flood zone and homes a ways from a river or stream aren’t always out of a flood zone. It’s a good idea to check a home’s address is the FEMA Map Database to see if it lies in a flood zone. If it does lie in a flood zone, it doesn’t mean it’s a deal breaker. Check with your insurance company about the cost of flood insurance for the home you are interested. Talk to locals to see how often the area truly floods and if your home is one usually affected.
Some buyers see deal breakers as a reason to walk while others look for creative ways to keep the deal together and get the home of their dreams. Working with a trusted team makes the home buying process much easier as you know they are giving you sound advice. Before you start your home search, schedule an appointment with me to see how I can be on your side.
Flipping houses is a serious business where large investments can reap large rewards or large losses. It is not as easy as seen on TV! Even experienced flippers sometimes miss the mark.
If you are considering flipping homes for the first time, here are some tricks to put you on the path to success.
1. Do Your Homework
Many flips fail due to lack of planning. Structure your business. Consult with lenders, tax planners, financial advisors, and real estate agents for the best strategy for this investment. Seek legal advice for structuring an LLC, corporation, etc. This is especially important when family and friends become involved in a joint venture.
Congratulations on your new home! It's full of potential and empty rooms ready for a fresh coat of paint. It’s exciting to move into a new home but it’s also easy to get carried away. There are a handful of things you need to do when you first move into a home and a few things you need to hold back on.
Here are our 5 tips for getting settled in your new home:
This summer has been a lot like the Denver market, hot but not smoking. If you're looking to buy your first home, now's the time as the market shifts to being more buyer friendly. Regardless of when you decide to buy, there are a lot of decisions to make and a lot of money changing hands. With the right partner by your side the process will feel much simpler, but in the mean time here are a few helpful tips.
Here are our 5 tips for first time home buyers:
Analyze Your Finances
Before you buy your first home, get up close and personal with all of your finances. Pull together statements from any credit cards, car loans, checking and savings accounts. Not only will your lender need all of the above, it will also help you get a realistic picture of where you sit financially. Are you prepared for the cost of being a homeowner?
Before you go too far down the homebuying path, talk to a mortgage broker to get pre-approved. Having a firm number of what you can afford will help frame your home buying choices and keep you from falling in love with a house outside of your budget. Reach out today for a recommendation for a mortgage broker.
It can be easy to create a mountain of a wishlist, but remember, this is your first home. Be practical with what you add to your wishlist and the budget you have. You may not have granite countertops, but you could still have an open layout. Prioritize your wishlist so you can make quick decisions.
Trust Your Team
You selected your real estate agent and lender for a reason, so trust the advice they give you. Turn to your team with questions you have during the process. This is likely the biggest purchase of your life and there are no stupid questions.
You will only ever be a first time home buyer once, so enjoy the journey! It may feel stressful while you’re in it, but on the other side you’ll have a place to call home for years to come.
With the right team and attitude, buying your first home can be exhilarating and fun. Get in touch today to start the process!
Buying a new home, whether as an upgrade, investment or for the first time, is a big step. There's a myriad of things to take into consideration and it can even start to feel like a part-time job. This is why you need the right partner for the job to help take the load off. A Realtor helps to manage the bidding wars and sort through available homes to find one that matches your wish list.
Being a buyer in a seller's market can be even more challenging, but it patience you can find the right home at the right price. Here are some tips to make the process smoother:
The mountains of Colorado welcome vacationers looking for peace, solitude and natural beauty. If you find yourself returning to a mountain community in Colorado, you may wish to consider buying a mountain retreat in Colorado. Here are four tips to keep in mind before you buy.
Water and Utilities
There are two kinds of mountain retreats - off the grid and on the grid. You may be drawn to the idea of a remote location, but before you buy you need to know what kind of commitment you're making. More remote cabins often run on solar power, well water and composting septic systems. When you're closer to town, you'll have easier access to public utilities. Know what you're willing to compromise on and what you aren't willing to live without.
The Denver area market is slowing shifting to be more buyer friendly after years of catering to sellers. However, the market still moves fast and it's easy to get caught up in the competition. No matter how much pressure there is, you need to do your homework so you aren't stuck with a house full of headaches in the future.
Here are 5 tips to help you avoid common new buyer scares:
Get an Inspection
Even if you're trying to cut back on closing costs, do not skip a home inspection. You don't want to be happily sleeping in your new abode when you start getting rained on because your roof needed to be replaced. Home inspections won't catch everything, but they will help you prevent major headaches and big repair bills. A home inspection will point out potential repairs in your home and give you power to negotiate with the seller.
Believe it or not, it'll be summer before you know it and we'll be having outdoor bbqs and finding ways to spend time outside. Even though it's still cold and there's more snow to come, you can get started with plans for a beautiful outdoor space now!
Here are 5 things to do to get your outdoor space ready for summer:
It's not uncommon to see the Denver real estate market slow down in the winter. The temperatures are dropping, the holidays are in full swing and kids are fully settled in school. It's understandable to not want to move when it's cold which is why inventory and prices often drop during this season. However, if you're a motivated buyer who can handle a little cold, you can snag a great deal in the off-season.
Here are our 5 reasons to buy in the winter:
Lower inventory and fewer buyers means the prices often drop when the temperatures do. Historically there are fewer people looking for homes in the winter, which drives prices down. Buying during winter could mean you will pay a little less for your dream home than you would in say, June.
Experts say it’s going to be a snowy winter in the Denver area. We all know that snow can be hard on a house, but what do can you do to keep your house safe? It’s best to be prepared and ready for snow to happen at any time, especially with our unpredictable weather.
Here are 5 things to do when it snows:
This may feel obvious, but it's important to clear your sidewalks and driveway. If you drive or walk on a surface too much, it will create ice and make falls much more likely. When it snows, you should be clearing your walkways first thing to prevent snow buildup and ice. In event of a big snow dump, shovel every few hours so you can still get in and out of your home.
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