Name: Your Home Sold Guaranteed Realty - The Wick Group
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Your Home Sold Guaranteed Realty - The Wick Group

Curious about buying a home and the home-buying process? If you want to buy a home, it’s important to be familiar with the steps involved. That way, you can be prepared for unexpected issues and make informed decisions along the way.

In this post, our team at Your Home Sold Guaranteed Realty - The Wick Group will discuss everything you need to know about buying a home, from goal-setting to viewing homes.

Key Takeaways

Determine your goals and motivations for buying a home before starting your search. This will help guide your process.
Set a clear budget upfront based on a realistic assessment of what you can afford long-term. Get pre-approved for a mortgage.
Vet potential neighborhoods thoroughly by visiting in person. Consider amenities, schools, future growth potential, and whether it aligns with your lifestyle.
Hire an experienced real estate professional to represent you. They can advise you and ensure you don’t overpay. Ask about their credentials and expertise.
View homes only after you have financing and criteria in place. But also don’t wait too long into the process. Seeing properties can help refine your preferences.

What Should I Know Before House Hunting?

What Are My Homeownership Goals?

Before buying a home, it’s important to avoid home buying mistakes. First, determine your motivation and goals for homeownership. The reason you’re looking for a home will determine what kind of property you ultimately end up purchasing.

For example, if your goal is to have more space, you might look for a home with some acreage. But if your goal is a shorter commute, you might look for a smaller home in the same city as your job. Here are some questions you can ask to figure out your homeownership goals:

Are you looking for more space or amenities? Things like a larger kitchen, backyard, garage, or laundry room.
Do you want to live in a specific area? Prioritize location near work, schools, parks, etc.
Are schools a factor? Buying in a district with top-ranked schools is key for families.
Are you hoping to build equity instead of paying rent? Homeownership builds equity over time.
Do you value privacy and independence? Owning provides more freedom over your living space.
Are you hoping to settle down long-term? Buying can make sense if you’re staying put for five or more years.
Is an investment property your goal? Real estate investment can provide rental income.
Are you wanting to be closer to family/friends? Look at locations near your loved ones.
Do you have a passion for designing, remodeling, and decorating? Owning allows creative freedom.
Are lower monthly payments a motivator? Buy if it reduces your costs vs. renting.

Figuring out your “why” and what you hope to gain from owning helps narrow your focus when searching for a home. Keeping your motivations and goals in mind throughout the process will lead you to the right home.

What Are My Location and Neighborhood Preferences?

Once you figure out why you’re after a home, the next step is to think about what type of neighborhood suits your lifestyle goals.

When considering your ideal neighborhood, start by making a list of your must-haves. For example, if you have children then being near top-quality schools will likely be a top priority for you. Consider what amenities you want in the community, such as green spaces, grocery stores, libraries, or nightlife venues.

If your commute time is a big factor, consider testing out different driving routes during rush hour from potential neighborhoods you’re interested in.

Another way to narrow down your neighborhood preferences is to visit the area in person. Walk or drive around to get a feel for the atmosphere, noise, traffic, and available amenities. It’s also a good idea to talk to residents to see what they think about living in the area.

Consider your future plans as well when deciding on a neighborhood to live in. Will the location support your lifestyle five or ten years from now? Are there opportunities for career or business growth and development nearby?

It’s also important to keep in mind that there are always trade-offs in any given area and that it’s unlikely you’ll find somewhere that meets all your criteria. Instead, you’ll have to weigh the pros and cons and be willing to compromise.

If you want the best realtor in Colorado Springs, work with The Wick Group. With two decades of industry expertise, we have the necessary skills and knowledge to help you discover the home of your dreams. Call (719) 259-0316 today!

How Do I Set My Home Buying Budget?

Setting a clear budget upfront based on a realistic assessment of what you can afford each month and long term is crucial when buying a home. To come up with a budget, follow these steps:

Make a list of all your current monthly expenses. This includes debt, utilities, food, and transportation. Include irregular expenses too.
Calculate your total monthly income after taxes. Be realistic about your guaranteed income and whether or not your income could change.
Factor in a downpayment of at least 10 to 20%, if possible. This way, you can avoid needing mortgage insurance. If you’re a first-time home buyer, you can take advantage of programs where you can pay as low as zero percent down.
Review your total monthly costs, including the mortgage payment, to ensure they still allow 10 to 15% savings after expenses. It’s generally a good idea to keep your total housing expenses below a third of your gross monthly income.
Use online mortgage calculators to run the numbers for different home prices, down payments, and interest rates. Make room in your budget for closing costs, repairs, and the overall maintenance that comes with homeownership.
Reach out to a lender once you have a good estimate of what you can afford. Get pre-approved for a mortgage to get an exact budget you can use to guide your house-hunting process.
Talk to a financial advisor if needed to analyze your full financial picture and how much of a home you can afford. Remember to avoid pushing your budget to the absolute max– a buffer can provide financial flexibility.

What Questions Should I Ask Home Sellers?

Ask About the Specifics of the Property

When you start viewing homes, you’ll want to ask the home sellers certain questions about their property. Asking targeted questions allows you to gain more insight into the home’s history, condition, and what life is like in the community.

Some good questions to ask when evaluating a home are:

How long have you lived here? Why are you selling?
What’s your favorite thing about this home and the neighborhood?
Have there been any major repairs, remodels, or new system upgrades in the home?
What are the average monthly utility costs?
Does the home have any history of water damage or leaks?
What’s included in the sale? Are appliances, furnishings, or other equipment included?
Does the home need any maintenance or repairs, like a faulty roof, bad siding, etc.?
Have you filed any insurance claims for damage to the home?
Are there any neighbor or HOA issues to be aware of?
Are there any other facts I should know about the home and property?

Ask About the Community and Long-Term Considerations

Thinking about big-picture factors beyond just the house itself ensures the neighborhood accommodates your needs over time. Here are some questions to ask home sellers or your realtor when evaluating a neighborhood or community as a potential place to live long-term:

What is the noise level and traffic like at various times of day?
How strong is the sense of community amongst residents?
Is the crime rate low?
Are the area schools highly rated and well-funded?
Is the neighborhood economically stable?
Are shopping and dining options conveniently located?
Are there parks, trails, and recreation centers nearby?
Is public transportation readily available?
Are there options for entertainment, culture, and social activities?
How are property values trending?

How Do I Hire the Best Realtor?

Is it Important to Have Home Buyer Representation?

Yes, it’s very advantageous to have representation when buying a home. A professional realtor can help you access listings on the Multiple Listing Service, find off-market homes, and connect you to home builders in the area.

They also have market expertise and will know the latest housing market trends. This makes it easier for them to guide you and make sure you’re not overpaying for a home.

They can also advise you on inspections, financing, contracts, timelines, and documentation, and help you when it comes time to go to the negotiation table.

What Credentials Will the Best Realtors Have?

Agents often invest in their education by earning advanced designations and certifications that help them stay up-to-date on changing industry regulations and consumer expectations. This indicates a higher level of professionalism.

Some of the top credentials and designations to look for when identifying top-tier Colorado realtors are:

ABR® – Accredited Buyer’s Representative designation indicates expertise working specifically with buyers.
CRS® – Certified Residential Specialist for exceptional experience with residential real estate transactions.
SRES® – Seniors Real Estate Specialist for agents knowledgeable about the 50+ buyer and seller needs.
CRB® – Certified Real Estate Brokerage Manager for brokers adept at managing transactions.
CPM® – Certified Property Manager for expertise in real estate management.
CCIM® – Certified Commercial Investment Member for commercial and investment real estate skills.
e-PRO® – Certification in technology and digital marketing best practices. Very relevant in today’s world.
GRI® – Graduate of the Realtor Institute has extensive training across all areas of real estate.

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!

What Questions Should I Ask Before Hiring a Realtor?

The realtor you decide to work with has a big effect on the success of your home-buying journey.

In order to find the right realtor, you’ll need to vet the agent’s experience, services, communication style, negotiation skills, and expertise in the local market. Some good questions to ask prospective realtors are:

How long have you been in real estate and what is your experience with my desired locations? Do you live in the area you work in?
How many buyers did you assist with purchasing homes last year? What is your process for helping buyers find the right home?
What services do you provide specifically for home buyers? How will you help me negotiate the best deal on a home?
How often and through what methods will you communicate updates during the home search?
Can you provide local area market reports and statistics?
What differentiates you from other agents and why should I work with you? Do you have any references from past buyer clients?

What Else Should I Consider Before Buying?

What City and Neighborhood Do I Want to Live in?

Arvada

Arvada is a city located in Jefferson County and Adams County. It is a suburb of Denver and is known for its residential neighborhoods, parks, and community amenities. Arvada offers a mix of urban and suburban living, with a range of local attractions and outdoor spaces. It has around 121,000 residents.

Aurora

Aurora is a city situated in Adams and Arapahoe counties. With a population of over 380,000 residents, Aurora stands as one of Colorado’s most populous and dynamic cities. Its strategic location, coupled with a range of community services and attractions, makes it an attractive place to live.

Black Forest

Black Forest is an unincorporated community that provides resale and newly constructed homes amid picturesque surroundings. Moreover, it has outstanding schools, making it an ideal place to raise a family.

Castle Rock

Castle Rock has a population of 71,037 residents and is surrounded by beautiful scenery, including the iconic Castle Rock formation. Located between Denver and Colorado Springs, Castle Rock combines the charm of a small town with the conveniences of suburban living.

Colorado Springs

Colorado Springs, located at the base of Pikes Peak, is a vibrant city renowned for its stunning mountain views and outdoor recreation. Home to iconic landmarks like Garden of the Gods and the United States Air Force Academy, it offers a perfect blend of natural beauty and cultural attractions.

Denver

Denver is the capital and largest city of the state of Colorado, with a population of around 715,000 people. Known as the Mile High City due to its elevation of 5,280 feet, Denver is a major metropolitan area with a diverse cultural scene, outdoor recreation, and a growing economy.

Falcon

Falcon is a growing community located in El Paso County with a population of around 10,000 people. It has a mix of rural and suburban characteristics and is close to Colorado Springs, providing residents with easy access to the city’s urban amenities.

Fort Carson

Fort Carson is a significant United States Army installation that plays a crucial role in military operations and training. While Fort Carson itself is primarily a military facility, the surrounding areas are home to military families and civilian residents who benefit from the amenities and services provided by the base.

Fountain

Fountain is a small city with a population of 29,802 residents. Located south of Colorado Springs, it offers a relaxed atmosphere, family-friendly neighborhoods, and proximity to outdoor activities.

Lakewood

Lakewood is situated in Jefferson County and is known for its diverse neighborhoods, recreational opportunities, and cultural attractions. With a population of around 157,000 people, the city’s location between Denver and the Rocky Mountains contributes to its appeal.

Littleton

Littleton is located in Arapahoe, Jefferson, and Douglas counties and has a population of around 48,000 residents. With a variety of parks, local shops, and community events, Littleton maintains a welcoming environment, making it an attractive place to call home.

Manitou Springs

Located at the base of Pikes Peak, Manitou Springs is a town in El Paso County, celebrated for its natural beauty and unique charm. Famous for its historic downtown, vibrant art scene, and natural mineral springs, Manitou Springs attracts residents seeking a distinctive living experience.

Monument

Monument is a small city with a little under 11,000 residents. Located between Denver and Colorado Springs, it has many scenic landscapes, including the iconic Palmer Divide and Monument Rock. Residents enjoy a close-knit community, excellent schools, and outdoor recreation opportunities.

Palmer Lake

Palmer Lake is a small town located in El Paso County. It has about 2,500 residents and is considered part of the Colorado Springs Metropolitan Area. The town is known for its natural beauty, including the nearby Palmer Lake and the surrounding scenic landscapes.

Parker

Parker, situated in Douglas County, has a population of around 64,000 people. With its scenic landscapes, recreational opportunities, and charming downtown area, Parker continues to attract individuals and families seeking a balance between modern amenities and a close-knit community.

Peyton

Peyton is a rural community with around 200 residents. Located in El Paso County northeast of Colorado Springs, Peyton offers a small-town atmosphere with a focus on rural living. The area is characterized by wide-open spaces, agricultural land, and residential neighborhoods.

Pueblo

Pueblo is a city of 112,000 residents located in Pueblo County along the Arkansas River. Known for its steel production heritage, the city boasts historic districts, museums, and annual events like the Colorado State Fair.

Widefield

Widefield is situated in El Paso County. Part of the larger Security-Widefield area, it offers a range of housing options and convenient access to nearby amenities. Residents enjoy proximity to parks, schools, and other amenities of the Colorado Springs metropolitan area.

What are the Downsides of the Area I Choose?

Every area will have some downsides. You’ll likely need to compromise on some of your preferences in favor of other ones. Some potential drawbacks of moving to any given area are:

Higher cost of living. Consider property taxes, utilities, groceries, healthcare, and other costs that may eat into your budget.
Longer commute. If you work in the city but want to live in a suburb or rural area, then you may have to deal with a longer commute time.
Fewer amenities. If you live in a more rural area, you may have limited access to grocery stores, gas stations, restaurants, and shopping directly in your chosen community.
Limited job opportunities. Ensure your career field and earning potential are strong in the new location.
Distance from family or /friends. Think about the area’s proximity to your support network and community.
Limited public transit. Evaluate public transportation options in the neighborhood.
Higher crime rates. It’s a good idea to review relevant crime metrics before moving to a new area.
Extreme weather risks. Consider severe weather patterns in the region and whether or not you should purchase separate home insurance to protect against any natural disasters.
Homeowner association restrictions. Review all HOA rules and fees before agreeing to live in a particular community.

Are There Future Development Plans and Infrastructure?

Yes, there are several future development and infrastructure plans in Colorado Springs, in both the commercial and residential spaces. This includes a 12-story office building created by the Norwood Development Group. It will be built in downtown Colorado Springs and will be available for tenants in 2026.

There are also plans to build several apartment complexes, including the Creekwalk Apartments, which is a seven-story apartment building.

What Types of Properties Should I Consider?

Luxury Homes

Colorado boasts a collection of exquisite luxury homes. From sprawling estates with panoramic mountain views to meticulously designed interiors, these properties offer buyers a lifestyle of sophistication in the picturesque scenery of the city.

New Construction

Explore the allure of new construction homes in Colorado, where modern design meets comfort. These residences showcase the latest architectural trends, energy-efficient features, and contemporary amenities.

Homes with Pools

Discover the epitome of luxury and relaxation with homes featuring pools in Colorado. These residences offer a perfect blend of outdoor entertainment and comfort, inviting residents to enjoy the summer weather.

Homes with Land

Experience the spacious charm of homes with land in Colorado. These properties offer residents the opportunity to embrace a lifestyle that combines privacy, outdoor enjoyment, and the natural beauty of the area. We can help you find homes with any amount of acreage.

Condos and Townhouses

Explore the convenience of condos and townhomes in Colorado. Perfect for urban living or those seeking low-maintenance residences, these properties offer modern amenities and easy access to the city’s attractions.

When Should I Start Viewing Homes?

The best time for you to start viewing homes is after you have gotten pre-approved for a mortgage. Getting pre-approved first gives you a definite budget to work with during the house-hunting process. This way, you aren’t tempted to look at homes you can’t afford.

Plus, having a pre-approval letter in hand helps you stand out from home sellers by indicating you have serious intentions about purchasing a home.

The more clarity you have around financing and budget, as well as your desired location and home features, the easier it will be to identify which homes truly align with your goals versus just viewing random listings. This saves time and narrows the focus.

However, don’t wait too long into the buying journey to start seeing homes either. Viewing some properties early on can also help you develop your criteria.

Who is the Top Realtor in Colorado?

Discover the exceptional real estate services provided by Jin and David Wick and their team at Your Home Sold Guaranteed Realty - The Wick Group, the best realtors in Colorado Springs. With over a decade of expertise helping home buyers, we’re committed to making your dream home a reality.

Our customer-first approach, consistent communication, and attention to detail ensure a seamless buying experience.

We also offer exclusive buyer guarantees that protect your interests, such as our Buy it Back Guarantee. For more details on our services, contact us at (719) 259-0316 or visit our website today. You can also fill out the form on this page.