Home Buying Is A Full Contact Emotional Sport
You are going to fall head over heels in love with your new home. Probably. No list of Louisville home buying tips would be complete without addressing the reality that so many of us simply fall in love with our new house! And emotions can be tricky beasts when buying a house.
Sure, some of us are more analytical than others. You might feel the house has the appropriate community locale, specific square feet, the necessary bedrooms. Or you might just love the way the sunshine falls across a particular room as you venture through the home for the very first time and say to yourself, “this it, this is where I’m going to live for the rest of my life. I love this house!”
Start Saving For Your Down Payment
Having funds for your Louisville house down payment is important, but not critical. Since 2014, according to Ananda Lantaff at Boulder Financial, it’s been possible to receive the minimum 5 % required for a conventional mortgage as a gift. Having a wealthy relative that wants to gift you funds is a great option for any list of Louisville home buying tips, but maybe not practical. So, start now, even if it is just a small amount you set aside every month.
There are programs out there to help you with your down payment. Colorado’s CHFA program is an excellent one.
Realtor Bob Gordon Serves Community
Some say, “never advertise yourself.” Others are of the school, “get your name out there, tell them who you are.” I’m going to walk that thin line between being informative and hopefully not sounding full of myself now.
One of the best things you can do when purchasing your home is find a real estate agent early in the process that is going to serve your needs over selling you a house. There is a difference.
I’m also a big fan of giving back to the community in general. I think the Louisville Realtor you select should do something, big or small, for the communities he is involved with. For me, that has involved Relay For Life, Community Food Share and serving on the Ohio Wesleyan University Alumni Board.
Now back to our regularly scheduled programming…
Having A Buyer’s Agent Is Key Louisville Home Buying TipS uggestion
Walk into a house for sale during the open house and meet the listing agent. That person, as nice as he or she is, really represents the sellers best interests. Having an agent representing your own best interests is important. Your agent will notify you of any material defects in your contract or the house (provided the agent is aware of such).
Your agent will help you get your terms and price. Now, sometimes, in a Sellers Market, there is not the opportunity to come in low. However, you don’t want to lose a house you love – having an agent giving you the best knowledge to make a winning offer, even one better than full price, that is very helpful imho.
In 2016 I was with good family friends. Their uncle is also a Realtor, he had just moved back to this area from the Northwest. He had years and years of experience selling in a sleepy little town, but none in a sellers market like ours. He had made a few offers for my friends and these had gone nowhere – they were constantly beat out.
I shared some of the very same advice I write about in my blogs. Writing a love letter to the seller, looking at recent sales data to understand a better than full price offer is necessary, sharing more financial info than the competition. Though my friends chose their uncle over me (and hey, I totally get that, I love my uncles!), the advice worked to their advantage and they won their very next home.
Can I win your business? Contact me, I’m ready to get to work today. If not, remember, find a Louisville Buyer’s Agent to protect your best interests!
Louisville Home Inspection
In the Louisville Colorado home buying market, you are entitled to an inspection of the property. This can be merely a look at the house by an inspector, or a detailed shake down of the property involving a professional plumber, structural engineer, review of crime statistics, getting the sewer line scoped, bringing in a chimney sweep, having the appliances probed, meeting the neighbors, examining the roof and more.
You can even add a home warranty at closing for additional peace of mind as part of the purchasing process.
I Want My MTV
I’m an Eighties guy. When Dire Straights sang those words, having MTV on cable tv was a big deal. Funny thing, the channel isn’t even one I get today and my kid tells me they don’t play music videos anymore anyway. What’s the world coming to. Remember with technology, you can always add it after you find your dream home.
Forget Gadgets, Focus On Location
Location is probably the best item to focus on. It is the most important of the Louisville home buying tips and tricks I would share. With a great place in town, you can add all the must have dream technology. Who knows, one day you may wake up and say, this is not beautiful house (that would be a reference to the Talking Heads…).
- Recently I helped Jon & Steph get the least expensive house on the best block. That is a great location.
- In 2014, I advised a client to be cautious of an amazing home that backed to a traffic light intersection. It Was So Loud Outside...
- Recommending great schools makes the Louisville home buying tips list. Louisville as a whole offers some of the best elementary schools in the BVSD. Finding a home near an excellent school is great for protecting your investment.
- And just the opposite can be true, if you are not worried about schools for your own child, sometimes buying just a block over can put you in the same location, but save your pocket book. A good example – homes north of Lookout are in Boulder, but have less expensive St Vrain school district. Across the street is pricier BVSD territory. Equal commute to downtown Boulder.
Budget For The Perfect Louisville Home
How much do you want to spend on your new home? As you consider Louisville home buying tips that apply for you, what you are ultimately willing to spend on your monthly mortgage payment plays a big factor in your new home’s price. As mortgage interest rates increase, you may find yourself comfortable with a less expensive property.
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