The city of Colorado Springs has experienced a rapid increase in population and jobs over the past few decades. This has led to the boom of the real estate industry in the city. If you’re house hunting in Colorado Springs, you can click here to learn more about the various housing companies in the area and to help you get the best deals. In this post, we’ll share some tips on how to get a great deal on a home in Colorado Springs.
Review Your Needs and Plan Your Goals
Maybe you’re tired of sharing a bathroom and need a place to work at home. Whatever your needs are, by working with your real estate agent, he or she will learn what you are looking for and help you prioritize your needs. A Colorado Springs real estate agent will suggest neighborhoods based on your budget and basic needs. First-time home buyers should be prepared to compromise. Ask your real estate agent to help you prioritize your list. If you have a monthly mortgage payment in mind, they’ll show you where to find what you want at that price.
Find a Good Real Estate Agent
Real estate agents can do much more to help you find your dream home than take you to open houses. After years of negotiating with local lenders, they have recommendations on where you can get pre-approved for a mortgage. Sometimes when you are not sure what you want in your home, they will ask you questions to help you clarify your wants and needs. After you make an offer on your dream home, a real estate agent will handle all the negotiations. This includes not only the purchase price but also move-in dates and repairs that need to be made before closing. Be sure to ask about homebuyer discounts, but they all accept flat rates or low commissions.
Secure Financing With a Lender
If you don’t plan to buy your home with cash, you will need to take out a mortgage. The most important factor in choosing a lender for Colorado Springs home buyers is the interest rate. If you do your research ahead of time and compare interest rates to find the best one, you can save thousands of dollars over the life of your loan. Colorado is a case in point.
A typical home in Colorado costs $428,000. With a 20% down payment, the monthly payment on a 30-year mortgage would be $1,527. However, if you were to look for a 3% mortgage, the monthly payment would be $1,444.
Negotiate for a Best Reasonable Price
Your agent’s negotiating skills are what shine. Once you have decided on a home, your agent will prepare and submit an offer. After viewing the home, your agent will sit down with you and discuss the points. If they feel that any of the points are significant, they will negotiate a price reduction. They can also fix any minor defects before you move in. If you’re ready to begin house hunting in Colorado Springs, fill out the online form to be contacted by a representative at Clever. They can set up a no-obligation consultation with local partner agencies.