Buying is for people who are ready to settle down. Making a big purchase like a house is a huge decision, so be sure that you are ready to stay in one place for an extended amount of time. Buying a house is a large commitment that can be costly if you’re not prepared. Being absolutely positive that you are ready to settle down is the best way to avoid excessive expenses and stress.

Be realistic

Shop for a house you can afford. Knowing what your limits are monetarily can keep you out of debt and in your home. Much of the reason for all the foreclosures that happen, is that buyers made purchases from the bank they could not afford. Being reasonable about what you will be able to comfortably pay for a house is as important as the house itself.

Hire an independent home inspector

Though the bank will have its own appraisal, you will want to hire someone familiar with home surveying so that they may point out future foundation or plumbing problems that may be costly to you.

20 percent down isn’t a requirement

Most people think that banks will require you to put down at least 20 percent of the cost of the house you want to buy. This is not true. 20 percent is what most banks hope for, but not what they will agree to. Talking with your lender is the best way to figure out a down payment that pleases everyone.

The cleaner your credit history the better.

Good credit is the easiest way to get the house you want. Before you decide to buy a house, you will need to make sure you have no outstanding credit problems that might impede you getting approved for a loan. But also, don’t let having bad credit scare you away from working to correct the problem. It is never too late to start repairing bad credit as most banks are willing to help. Do yourself a favor and get pre-approved for a loan. Once pre-approved, you are in a more comfortable position to make a serious offer once you have found a house you like.

Research before you purchase.

Before investing in something like a house it is always good to do your research. Knowing what the house is actually worth based on the houses around it is important in the buying process. Your first bid should reflect the prices of similar homes in the area. If you find that houses are typically selling under their asking price your offer should be lower than the original price.

Hire an agent

Someone who is trained specifically in what you need is far more likely to be able to help you find what you are looking for as well as making the process more transparent and less stressful. An agent is a person who knows the housing market and is familiar with the procedures you will have to go through. An agent can not only find you houses within your price range, a broker can walk you through getting your home loan, and work with you on bidding strategies when looking for Denver real estate for sale.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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