How To Get Into Your First Home In An Expensive Market
With home prices rising in Colorado, it can leave many buyers feeling like they’ll never get into their first home. While the market is moving fast, this is far from the truth! It is absolutely still possible. Here are a few of my tips to make that happen:
Utilize First Time Home Buyer Programs
If your income and credit are within the program limits, you may be eligible for programs that will pay for your down payment, closing costs, and more to alleviate some of the cost of getting into your first home. Examples of these programs in Colorado include MetroDPA, CHFA, and Chenoa.
Don’t Fixate On One Neighborhood Or Area
Your dream may be to live in Old Town Fort Collins, but you may have better luck finding something that fits your current budget in another neighborhood or city. Figure out where you can compromise, get into the game, build your equity, and work your way up to your dream home.
Be Open To Sweat Equity
You may be able to find something under your budget if you’re willing to put in a little work. While have something move-in ready sounds very appealing, a fixer upper offers you the ability to make the home completely your own and build some serious equity.
Maximize Your Credit Score
A higher credit score opens the door to the lowest available interest rates when you borrow, making your monthly payment as affordable as possible.
Work With A Creative Agent
Working with a creative agent (hello, it’s me!) can get you access to off-market listings and other homes you don’t have to compete for. They can also provide you with a solid strategy to make your dream of homeownership a reality.
Want more information? Don’t hesitate to reach out! I’d love to chat.
