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Reducing Anxiety When Buying a Home in the Observatory Park Real Estate Market

January 3, 2018

The Observatory Park real estate market is very competitive. Because Colorado has low unemployment, represents an active lifestyle, has gone "green", and people enjoy a good work-life balance, it's a very popular place to live. In this type of market, houses are flying off the market. Sometimes you blink and a house you love is gone.

That's why you should rely on the real estate professionals at Elevation Realty to assist you with finding your dream home. Sometimes it comes down to minutes when buying a home in a tight market. Buying a home is likely the largest purchase you’ll make in your lifetime so it’s natural to have some anxiety and want some time to think it over, but if you take too much time it’s possible or even probable that you may miss the home of your dreams.

Narrow It Down

To make it possible for you to act quickly without giving yourself an anxiety attack it is important that you sit down and make a list of wants and needs. No property is going to fulfill every single wish, but break your list down to: deal breakers, needs, and wants. Once you find a house that has no deal breakers and several needs met, you can make a serious offer with confidence.

Home Deal Breakers

Anything on the deal breaker list should be important enough to make you walk away from a deal. They should be things that you aren’t willing to compromise on just because you’re tired of house hunting or there are some things from your want list that are turning your head. Deal breakers may be things like, undesirable schools, unsafe neighborhood, long commute. Needs may be things like: a yard for your dog, enough room for your hobby, a garage that fits your car(s), enough closets or other storage space functional for a family your size, or if it’s close to restaurants, shopping and amenities? Things like jacuzzi tubs, gourmet kitchens, fire pits, and back decks are likely to fall under the want category.

The Needs

Needs are important as well but they may have some room for compromise. The outdoor environment may not be what you want but you can possibly make it that way within a few years. The kitchen may be outdated but you might be getting a good enough deal on the house that you can afford to redo it just the way you want it. Be honest with yourself about how much time and money you are willing to put into fixing or remodeling. Also, be honest about how much time you can live with that bathroom tile or lack of storage before it affects your mood. If it’s something you would want done right away analyze the economic feasibility and if you’ll have the energy to deal with that along with settling into a new house. If do-it-yourself projects are your thing you may have some wiggle room. If the thought of picking up a paint roller makes you cringe, come up with a loan amount that you can afford along with your new mortgage and stick with that. You don’t want to put yourself under too much financial pressure.

The Wants

Wants are generally things that can be added as time goes on. They are something that your dream home has but you have been living without and can go a little longer. If the house has zero wants you may want to move on but if it scores high in the deal breaker and need category, decide how long you can wait for some of the things on the list.

Talk to your local Observatory Park realtor to help reduce anxiety and be ready to pounce on your next home. Having a list will help you out immensely and us too! Once you’ve completed your list, share it with your realtor, so we can better serve your needs. Contact Elevation Realty today at 303-579-3566 to discuss purchasing your home!