First-Time Home Buyers

Tips, articles, and advice for first time home buyers in Colorado.

Found 39 blog entries about First-Time Home Buyers.

Pros and Cons of Buying and Older HomeThinking of buying an older home? Read this first…

“We’ve found a beautiful Victorian home near downtown. All we need to do is replace the kitchen, wraparound porch, heat system and windows… our budget is $700.”

There is the Romantic idea of what it would be like to live in a charming old Craftsman Bungalow on a tree-lined avenue near downtown…

...and then there is the Reality of what it’s like to own and live in one (and it’s not always as charming as HGTV makes it out to be).

Our hope is that this will be a simple guide to help you make the best decision. This article is not designed to steer you in one direction or the other, but rather to give you some practival examples and useful case studies to make an informed decision on your own.

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While new innovation seems to be sweeping many industries across America, consumers would say that it has not swept the home building industry. The market is still flooded with home builders who are building to the exact same standards and styles that are years, sometimes decades, old. CreekStone Homes in Colorado Springs is looking to change consumer’s expectations of how a home should be built. Their ComfortBuilt™ Home is how they plan to do it.

For years, CreekStone Homes have had excellent home designs, which has caused them to become popular in the Colorado Springs area. Now, they are adding to their awesome designs by signing an exclusive agreement with Owens Corning to build a much higher overall build quality product. It will not be an “option”

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Who Pays Realtor Fees When You Buy a House?One of the most common questions that I hear when I am working with first-time home buyers is, “How does a Realtor get paid?” According to the National Association of Realtors, 88% of home buyers used a real estate agent when buying a home and approximately 91% of homeowners used a Realtor to sell their house in 2016 (click here to view the statistics). Based on these numbers, it’s obvious that there are many people working with Realtors every day. There are also predicting that the “Gen Y” homebuyers will be entering the real estate market with a bang during the next few years. This means that an influx of home buyers will be entering the market for the first time. Many of these first time home buyers have no idea what a Realtor actually does, or how

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Should I Buy A Rancher or a Two Story HomeWhile showing properties, I often get this question from home buyers: “What are some differences between buying a ‘Rancher’ versus a ‘Two-Story’ home?” These are the two most common residential home styles in the Colorado Springs area.

If you’re from another part of the country, you may have a different idea on what a “Rancher” is. Other State’s soils and elevations require completely different foundation types, which means they have completely different floor plans. If you're new to the Colorado area, you’ll appreciate this info.

What’s a “Rancher”?

A “Ranch“ style home in Colorado is simply a home with a main level and a basement. In Colorado, “Ranchers” are extremely common. The confusing part for home buyers coming from areas without

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8 Steps To Get Out Of Debt And Buy A House

This is a guest post from our friend and fellow real estate professional, Tony Mariotti, founder of RubyOne Mortgage Company.

Ask a loan advisor or real estate agent what they find satisfying about their career, and many will say how rewarding it is to help people buy their first home. If you ask those same professionals about the biggest challenges for first time home buyers, and they’ll bring up two sticking points:

  1. Buyers often carry too much debt
  2. Buyers don’t have enough cash saved for a down payment.

These are two sides of the same coin. If you want to buy your first home, the goal is clear: get rid of debts that create a drag on your ability to save up for a down payment.

Mentally, we all know we shouldn’t spend more than we

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How Do Human Emotions and Logic Effect Which House We Buy

When people shop for a house, there are predictable behavioral patterns that occur throughout the process. The internal struggle between emotion and logic is common with home buyers. Everyone wants to buy a home that they love AND that has great features for resale. The challenge for home buyers is to find that perfect balance between what's practical and what's charming.

Emotion and logic are two human traits that are at odds with each other when shopping for a home. The struggle is real. Knowing how each trait can affect your decision making process while shopping for a home can help ease stress and allow you to feel in control of the buying process.

There are unique variations of the "emotion versus logic" battle. Sometimes the tension is

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This step-by-step guide will walk you through each step of the home buying process. Use it as reference and remember to ask your REALTOR® anytime you have questions. Your REALTOR® will help you through each step.

How To Buy A House Step By Step Guide Inforgraphic

 

The home buying process can be an intense journey, but it's much easier when you have a clear path and clear expectations. This guide is designed to help you through the process. Let's get started!

 Step 1: Prepare Your Finances to Buy A House

Preparing your finances is the very first step in buying a home. This will allow you to find the price range that fits your budget before you start looking at homes. If you begin your home search in a higher price range than you are approved for, you are setting yourself up for disappointment.  Start preparing your finances right

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5 Dangers of Using the Listing Agent as a HomebuyerBuying a home is a precious event. The home you choose is going to shape your daily routines and memories for years to come. The process of finding and purchasing a home can be an exhausting one. For this reason, it is best to find a Realtor to help guide you through the process and protect your interests from start to finish.

There are typically 2 types of Realtors in a real estate transaction:

1.) The Listing Agent: works directly with the sellers; and

2.) The Buyer’s Agent: works directly with the buyers.

Both are representing the interests of their respective party.

 

Some homebuyers make the mistake of asking the listing agent to show them the home that they are interested in. I’ll explain why this is a bad idea throughout the

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What do you need to buy a house? This may seem like a simple topic, but it’s one of the most common questions I'm asked by new home buyers as well as new real estate agents. There are so many steps involved when buying a home, it's not uncommon for first time home buyers to completely overlook one or more of them.

This article will cover all of the major things that are required for most home purchases. There are other requirements that may come from your mortgage lender, such as previous years tax returns, employment verification, credit scores, etc. In this article, I'll stick with the most important items that typically cover the amount of money that you need. I also created this handy infographic that you can save and use as a reference.

What Do You Need To Buy A House Infographic

Breakdown Of Items Needed To Buy A House

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3 Sacrifices People Make When Hiring A Realtor Out of Obligation to a Friend or Family MemberI recently received a request from an out-of-state buyer who wanted to view some homes for sale in Colorado Springs. I asked her if she was already working with a local REALTOR® and she said “Yes”. She explained to me that she was feeling pressured to use an agent that a family member referred her to. I asked her who the agent was and she said she didn’t know yet. Her family member was a REALTOR® in her hometown of Washington, and she was working on finding her a REALTOR® here in Colorado Springs.

Here’s what was really happening: The family member (who was a REALTOR®) was looking for an agent locally who would pay her a referral fee for referring this buyer. The average referral fee is around 25% of the buyer side sales commission. The lady who

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