For home buyers looking for a bargain, the small dip in home prices provides a window of opportunity. One of the mistakes people make when relocating to Colorado is paying top dollar on a home. According to an article by thedenverchannel.com, Denver-area homes drop in the fall and winter as part of the down season. Condos saw a price drop of 2.55 percent to about $268,000 compared to the prior month, the Association of Realtors reported. Throughout Colorado, home prices fluctuate due to the changing seasons, fluctuating interest rates and real estate trends. A piece by realtor.com, suggests holding out for a home that’s what you truly want. Of course, don’t go to the other extreme either. Remain realistic.
Don’t settle for a fixer-upper
Even if you love watching the home improvement channels, it does not mean you feel suited for a fixer-upper. Unless you are an investor, hold out for a turnkey home. For people relocating to Colorado from other states, it’s even more important to go for a move-in ready home. Few people want to coordinate renovations and repairs long-distance or worry about pest control the minute they walk into their new home.
Don’t settle for an undesirable school district
Buying a home in a good school district is important even for buyers without children or retired home owners. Homes in low-rated schools tend to attract fewer buyers. Less competition or demand means lower home values. Talk to an experienced Colorado real estate agents about the best schools whether you shop in Boulder, Bonnie Brae, Denver, Aurora or other popular communities.
Don’t settle for the wrong floor plan
If you want an open space plan, avoid buying a home with tiny rooms and closed off space. Some home owners experience buyer’s remorse because they discover a contractor can’t renovate the home to their specifications. Buy a home with the number of bedrooms and bathrooms you want as well as the right floor plan. A split floor plan with separate master bedroom appeals to a lot of buyers due to privacy factors. If you think your parents or adult children will move in, look for an appropriate floor plan.
Other factors include figuring out how much you are willing to pay for a Colorado home and then staying firm. Relocating to the area entails higher moving costs. Also, figure out how your new property taxes and any home owner association fees affect your typical home budget. If you are moving to the area for a job, consider the commute time. At Metro Denver Luxury Homes, we provide our clients with utmost attention to their needs. For more tips on relocating to Denver during the booming real estate market, please contact us.