Return To Blog

3 Important Questions to Ask Before Buying an Observatory Park Home

May 2, 2018

When it comes to buying a house, there’s more to the process than picking the first property that fits your needs. You need to weigh your options, discover everything you can about the properties you’re interested in, and make sure they fit with your budget. After all, what may look perfect on the surface could be hiding several major maintenance concerns beneath a shiny exterior. The last thing you want is to purchase a home only to find that you’re in over your head. Here are a few questions you should ask before making an offer on properties in Observatory Park, a fantastic area of Denver.

Is the location convenient?

If you’ve narrowed down your house search to a particular neighborhood, you know where you want to be located. However within each neighborhood, the location may vary slightly. For example, homes located on one side of the street may make it easier to get to work while others might have you waiting for a light to turn just to get on the road. Before you make an offer, make sure the location is convenient for your commute, your family, and the amenities you enjoy most. You may want to look at multiple homes in the same neighborhood in order to find the one that has the perfect balance between convenience and comfort.

How long has the home been on the market?

The Denver real estate market can be fickle and what appeals to one buyer may be the last thing another buyer would want in a home. Sellers who have had their homes listed for months on end are often more eager to sell than those who just listed their house. Before making an offer, ask how long the home has been for sale. If it’s been more than a few months, you may be able to negotiate a discount on the asking price. Remember, a home that’s been on the market for months probably doesn’t have anything wrong for it—it’s just waiting for the right buyer.

How many offers have been placed on the house?

If you’re really interested in a home, you’ll want to place an offer on the property. However, if the house has multiple offers already being considered, you’ll also need to be competitive. Ask the listing agent how many offers the owners have received. This will give you an idea of whether or not the property will actually fit your budget. Homes go fast in Denver, and the more competitive the offer, the more likely the homeowner is to take it. Keep in mind that homes with more offers in place may require you to offer substantially more than the asking price. Make sure your offer lies within what you can afford in a monthly mortgage payment.

If you’re ready to purchase a home, contact the team at Elevation Group. Our experienced agents will work with you to help you find the home of your dreams, whether it’s just for you or you’re looking to build a large family.