Beyond the basics of home-buying
If you are in the market for a home for the first time or the tenth time, you likely already have a handle on some home-buying basics: prequalify for a loan, check your credit, save for a downpayment, and more. Beyond those key points, however, there are a few things that even seasoned home buyers might not consider.
Use these lesser-known tips for home buyers as you begin your search:
Think beyond the short-term
Many buyers focus on a wish list that accommodates their current lifestyle, but it pays to think longer term. If you plan to stay in a home for 10 or 20 years, what do you anticipate your future needs will be? Retirement budget, health concerns, making room for additional family members (new children or aging parents) and other factors will impact what your future home needs will be. If you you don't account for these future needs, you might be searching for yet another new home in a few years.
Conversely, maybe you only want a place for a few years. If you anticipate a move within 3-5 years, be sure to consider the resale value of any home you purchase. Features you don't necessarily need yourself, such as more bedrooms or a finished basement, could make selling a home easier when the time comes.
Location
Of course you have narrowed down your favorite town (Steamboat Springs, right?) or neighborhood, but I am talking about the home's specific location. Consider:
The curb appeal might be fantastic in the summer, but does the driveway face north? You might be stuck with hours of shoveling after each snowfall because the north side is more shaded and doesn't melt as quickly.
The condo complex might be the vibrant social haven you're seeking, but does your balcony overlook the pool? Maybe you'd rather not hear your neighbors' pool parties at all hours?
Really think about what you need and want from your home, and note its orientation and location details that might help or hinder your lifestyle. Keep in mind that some trade-offs might be worth it to find a home in your price point in your target neighborhood.
Parking
In resort areas like ours, parking can be a major factor in a home purchase decision.
Does a condo in the town center have a covered parking spot (or two)? Do you have to pay extra for that space? Who maintains the garage? Is there security?
Does that charming mountain cabin come with an attached garage for those cold winter months?
Be sure to factor in your parking wants and needs, and any associated costs, before buying.
If you are looking for your next home in Steamboat Springs, Colorado, contact us using the form below. We will put our local expertise and nearly 30 years' experience to work for you.