When you’re looking for a house for sale in Denver, CO, finding the perfect house can feel like a monumental task. It’s possible and with the help of the right real estate agent, you’ll be able to find the right house for your needs. But if you haven’t started looking yet, you need to be prepared. There are some mistakes that homebuyers make repeatedly that can end up costing you in the long-run. Here are a few of the most common mistakes to watch for and what you can do to avoid them.
Not Shopping Around for Mortgages
The most common mistake buyers make time and again is talking to one mortgage lender about their options and settling on whatever they offer. If you’re looking for a house for sale in Denver, CO, you need to find a mortgage lender that offers a fair interest rate and the highest possible loan amount, even if you don’t plan on borrowing that much.
Always get quotes from multiple lenders before you decide on a mortgage. Remember, different lenders will view your financial situation in different ways. Some may offer you a better rate than others, but you won’t know unless you get quotes from several companies. Choose the mortgage that you’re most comfortable with and always talk to multiple lenders before you make that decision.
Buying the First House You Fall in Love With
When you find a house that you think will be a good fit, it’s tempting to rush into the closing process. But buying the first house you fall in love with isn’t always the best idea. There may be flaws that you’re just not seeing because you’re too taken by the features that caught your eye in the first place.
Instead of buying the first house you fall in love with, keep looking and compare your options in detail. This way, you’ll know for sure you’re getting the right house for your needs rather than making a knee-jerk decision based on emotion. Remember, a house is an investment and the average person spends 13 years in their house before selling it. Make sure you’re really in love with it before you make the investment.
Forgetting About the Neighborhood
When you’re looking for a house for sale in Denver, CO, it’s easy to focus on the house and the property to the exclusion of everything else. While it can work out fine, you could end up in a neighborhood that you’re not comfortable in. And no dream home can make up for a neighborhood or location you’re not thrilled with.
Before you place an offer on a house, think about what the neighborhood has to offer. If you’re working, you might want to consider your commute. If you have school-aged kids, you’ll want to look into the school district. Choosing a house without considering the location often leaves people regretting their choice in a matter of months
Not Getting the House Inspected Prior to Closing
Real estate agents can help you find a house for sale in Denver, CO, but they can’t guarantee that the seller isn’t trying to hide damage. And they don’t have a way to see inside the walls to find damage the seller might not even know about. The only way to uncover those possible issues is to get the house inspected prior to closing on the property. Unfortunately, you’ll likely need to pay for the inspection and if you’re trying to pinch your pennies, it’s an easy thing to cut out.
Don’t. Inspections are key in helping you figure out if a house is worth what you’re planning on paying for it. If there are tons of underlying issues, you may be able to negotiate the price down, potentially saving you thousands! Before you close on the house, take the time to get the house inspected and see what its condition is. If there are major repairs that need taking care of, use that to help you lower the selling price.
Buying for the Now, Not the Future
When you’re renting a house or apartment, you’re locked into a lease that lasts for a year or two at most. This means your needs can change frequently without issue. Owning a house isn’t as simple. You’re in it for the long-haul. Think about your future needs before you buy. If the house can’t accommodate those needs, keep looking.
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