Colorado Real Estate Market: A Complete Guide to Buying a Home in Colorado
Buying a home in Colorado is the same as anywhere else, sort of. There are some areas you will run into things you may not in the “big city”. Many mountain properties have wells and septic systems that are not a big deal. They are just different for some folks and some folks don’t like different. Also we often have minor issues with lot lines, plats and easements. Just because of the terrain but that too is nothing to really worry about. That is why we have title. With all these minor issues that is why it is important to hire an agent that knows mountain properties.
Buying a home in Colorado
A lot of factors go into the price of homes in Colorado. So a simple appraisal is not going to help you. If you are looking to buy a small home it is likely that you will be able to get a bank loan but you will need to know how much. You also need to know what is fair for your area. If you are looking at a home in northern Colorado it is likely that there are a lot of real estate agencies that specialize in buying homes in the area. Colorado has a lot of restrictions that go into selling a home. The mountain real estate agency is going to be able to find a home that is right for you in the mountains that will give you the most money for your home. How to buy a home in Colorado The first step is looking for a home you will like.
Finding the right agent and best fit for you
Now to be honest, I work on buying homes for a living. So I think I know a little more than a lot of folks. But, that doesn’t mean I can give you a definitive answer on what is a good agent. I’ve learned a lot about what makes a good agent. There is one person that has taught me the most about agents and their role. That person is Danny Skelly. He is a real estate agent out of Evergreen. His title is broker/owner. H owns a company called Orson Hill Realty which works with buyers and home sellers in all price points.
Understand your budget and needs
We like to know what your budget is and what your wants are. You need to know what your “numbers” are. How much you can afford to spend. The last thing you want is to get in over your head. Also don’t go overboard. You need to know what it is worth and what the sale will be. Asking what the sales are for comparable homes in the area will help you. You also want to make sure that you have a home inspection. When we are selling a home there is nothing more we like than having buyers walk through our home with an inspector. This is for your safety and the safety of your family. You want to make sure everything is safe and secure. You also need to make sure that the home is move in ready.
Research your options
The first step in any major home purchase is research. The internet has a lot of helpful information on home buying. Use those sources to find properties in your area and get some ideas. Check the cost and location and make a plan. Don’t settle for anything that doesn’t fit into your price range. Learn your Metro Denver area area In order to truly buy a house in the Denver Metro area there are a lot of requirements that you need to know. If you are planning to live in the area for more than three years the property taxes will need to be paid on the new home. You will also need to see the schools and be sure the schools are good. If you are planning to commute there is a school zone and that will cost you.
Contact an agent in Colorado
As I stated earlier, in addition to the agents listed in the intro paragraph, there are lots of other great Colorado real estate agents out there. Many agents, like Danny Skelly broker/owner Orson Hill Realty and Real Estate, use non-traditional and unconventional methods to find homes for their clients. Danny is an agent that is very creative and so is his clients. He has people to help him on her searches. An example of this is the advanced property Search. When He is putting her clients in a situation that is close to one of their questions about buying a home, he runs them by the advanced search who is just hanging out in the neighborhood. So he uses this to her advantage when looking for homes for his clients.
Find a property in Colorado that fits you.
There is one thing to remember when you are searching for a mountain property: You can’t just look at a huge multiple lot property. Some may be great but you just want a small section or lot. If you look at a huge mountain lots, you will not be able to decide. The acreage is usually too big for your needs. You want to think about who is going to move in and what their needs are. Look at the size of the property and ask yourself what can you do with it? Not only this, but what is it going to be worth when you resell it. Location, location, location. There is no better place to search for mountain properties than the mountains in Colorado. There are many spots in the state and a lot of them are only 20-50 minutes from a big city. Check the top of the mountain and find a place you like.
Types of home inspections for Colorado mountain properties
Of course there are a few different levels of home inspections. They include: Verification of the plans and floor plans that go into the home. This includes: Conducting a walk through with a builder or appraiser. Conducting structural integrity, a “magnetic” and a “photo” inspection with a home inspector. Depending on the type of home being purchased there are a few other things that may be inspected. When the prospective home buyer needs to make sure that everything is up to code or getting to a certain point. For instance: Electrical systems that power outlets, light bulbs, wall sockets and switches. Food and water supply systems. Home fire sprinkler systems Patching things up.
Understanding mountain homes are different. Not better, not worse just different than you may be used to.
Mountain properties are not like the rest of the state. While the rest of the state tends to be flat and has little variation in elevation the homes on the mountain tend to be higher. Some have wonderful views, and some are just rocky. From the very beginning, you will be faced with some unique challenges and opportunities when buying mountain property. Mountain homes differ in that they typically don’t come with septic systems. They don’t have a well pump either. For the sake of this article we will ignore the septic tanks. Water is scarce on many of the mountain properties we buy. As you move down the mountain and a house or neighborhood comes into sight, there will be a noticeable lack of water. That is when the decision to buy property becomes really important.