Tips to help Renters purchase their first home

Dated: April 6 2021

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When families are starting out, there are a few advantages to renting a home: Rent may be cheaper than a mortgage; no worry of home repairs and relocation for a job is easier. But, families often choose to purchase a home and increase their assets. If you are ready to take the plunge into homeownership after being a renter, consider these tips.
1. Find a Reputable Realtor

The first thing you need to do is find a reputable realtor who can narrow your list of potential homes and guide you to purchasing the right one for you and your family.

When you hire a realtor, choose one who is licensed and has the right credentials for your area. Research to learn whether any disciplinary actions or complaints have occurred with the realtor and determine the realtor’s specialties. 

I can be that Realtor for you!  Text:   melaniehood   to   85377     

2. Know What to Look for When Visiting Potential Homes

A realtor will schedule showings of homes that you are interested in seeing. But, you may come across houses that are for sale by owner, a realtor can help you with these too.  It’s best to look around to know exactly what to look for during your search for your ideal home. 

When it comes to a home’s interior, note more than the general information like the number of rooms and their size. Look for closets and storage areas to make sure the house will accommodate your belongings. Are there plenty of light switches and outlets? What is the age and condition of the appliances? But remember, if you really want the home, you can purchase appliances later.  Your realtor can help you purchase a home warranty before closing too.

Then, check the condition of the windows, ceilings, walls, and floors. If you notice several cracks, the house may have a foundation problem. Also, look for signs of water damage or mold. These are red flags that the house has/had a moisture problem.  You'll want your realtor to negotiate these issues on your behalf.

As for the home’s exterior, note the age and condition of the roof and siding or façade. If the roof is old, you can alter your offer to allow for a new roof, but you may need an inspection first to see if it really needs replaced.

If looking for property in Rural areas mainly, Environmental regulations are strict, and if there is an underground oil or gasoline tank on the property, it will be costly to have it removed and have the soil tested. Also, note the property’s landscaping. Are the trees and shrubs too close to the home, and have they caused damage to the siding or roof? 

3. Visit Your Favorite Home More Than Once If You Can

In a Seller's market, you may not be able to do this, if you want to get the offer in and win!  But, once you narrow your list of prospects, visit them again. This time, take the time to stand in each room and visualize what it will be like to live there. Is there too much traffic noise or other noise outside for you to feel relaxed?  
Picture your family in the kitchen and living areas to determine whether the house is big enough for your needs. The more time you spend in the home, the better the chance that you will know if it is the right fit for you.

Are you Ready?  Call me!  Melanie Hood

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Melanie Hood

Melanie Hood is a Realtor, licensed in Denver, Colorado and she specializes in the Denver Metro Area to include Lakewood, Arvada, Wheatridge, and Golden. Melanie also specializes in helping Seniors fi....

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