No matter how you look at it, deciding to buy a home is a stressful process. You’re not only facing the thought of packing up everything you own, but you also have to find the perfect house to call a home. For residents of Observatory Park, recognizing that the time has come to buy a new home can be difficult. Here are a few simple ways to tell that you’re ready to start the house hunt.

You’ve outgrown the space

Life happens, and sometimes, the home you thought would fit your needs for many years to come can start to feel far smaller than you ever imagined. If you’re starting to feel a bit cramped in your current space, it may be time to start looking for a new house. The last thing any homeowner wants to deal with is feeling like their house is cluttered after implementing every possible storage solution available.

Mortgage payments would cost less than rent

Let’s face it—rental prices in the Denver area just keep going up. While you may be able to afford it month after month, all that money is going to someone else’s mortgage. Many would-be homebuyers are surprised to learn that the average mortgage rates in the Denver Metro area are significantly lower than their current rental price. If your rent costs more than a house payment, it’s time to start looking for a home. You’ll be able to maintain the luxury and amenities you love about your rental, just at a lower price.

The neighborhood has changed

Neighborhoods can change, especially with the influx of new residents flocking to Northern Colorado on an almost daily basis. Rather than settling for being unhappy with the neighborhood, start looking for a new home in a part of town you’ll love. By moving when the neighborhood starts to decline rather than waiting until it reaches rock-bottom, you’ll avoid much of the stress and annoyance your neighbors will have to tolerate.

Your needs have changed

What you needed in a home when you first moved in may not be what you need now. For example, maybe you thought a kitchenette in your studio apartment would suffice, but now you’re cooking dinner five nights a week and want more prep space. Perhaps you started working from home and need a dedicated office separate from your living room. No matter the reason, if your current home does not fit your current needs, it’s time to look elsewhere.

The kids have moved out

If you’re living in a family home, all that extra space can quickly become a burden if you’re living in it alone. When the kids have moved out, it’s time to start thinking about downsizing—after all, why would you want to waste money heating and cooling rooms that won’t get used much during the year? Buying a smaller home may end up saving you money down the line.

Ready to start your housing search? Contact the experts at Elevation Group today and let them help you find your dream home!

Buying a new home is always exciting. You’re able to upgrade, find the house that best fits your needs in a location you love, and get out of a less perfect house. However, the buying process may not always be as simple as finding the property itself, especially if the property has a lien on the title. While not typically a problem for home buyers, you’ll still want to understand how the lien impacts the property, your offer, and the closing process. Here’s a brief guide to understanding liens from your local Observatory Park realtor.

What is a Lien?

A lien is an indication that the seller of the property owes money outside of the mortgage on the home. These are often assessed when the seller owes taxes to the IRS or has other outstanding debts unrelated to their tax liability. This debt is something the seller is responsible for and should not be something you, as a buyer, need to worry about when deciding to purchase the property. Keep in mind that if you fall behind on your taxes, fail to pay a contractor for work performed, or fail to make child support payments, a lien may be assessed on the property while you own it. It’s your responsibility to stay in good standing with all of your creditors, whether it’s the government or a private party.

How a Lien Impacts the Buyer

Unfortunately, some liens can be inherited when you buy the home. If the seller has not paid property taxes on the home for the last few years, you’ll be responsible for covering the balance. Similarly, liens for child support payments can create a major problem if you end up buying the home without knowing about the lien. The interested parties can always sue to have the home sold and the funds used to pay them what they’re owed. Though rare, the home can be sold out from under you, leaving you with a mortgage and no place to live.

You can avoid these situations by running a title check on the home before you close. These checks will reveal any liens on the property, the type of liens assessed, and give you an idea of whether or not the property is still a good investment for you and your family.

What Happens During Closing

Most sellers are willing to accept responsibility for the liens and will use the money from the sale to settle the lien. During the closing process, the amount of the lien will be specified in the closing documents, allocating the proper funds to the creditors and mortgage provider. Any funds left over from the sale will become the property of the seller once the buyer submits the payments. However, because there’s always some concern over whether or not the seller will accept responsibility, it’s important to listen to your realtor’s advice throughout the entire process.

Let our experienced realtors help you find the home of your dreams and avoid the hassle of buying a house with a lien on the title. Browse our available featured homes and give us a call at (303) 579-3566

You love your pets and you treat them like family. However much you love them, prospective buyers may not feel the same way when they’re touring your property. In fact, evidence of pets in the house can be a major downside to some buyers. Though it’s easy to say that anyone who’s not interested in your home simply because you let your pets lounge in comfort, that belief system can force you to leave your University Hills home on the market far longer than it should be. However, with a few simple steps, you’ll be able to make your home welcoming to even the most discriminating potential buyers.

Give Your Home a Good Deep Cleaning

No matter how hard you try, your pets will always leave an odor behind. Even if you no longer notice the smell, others not accustomed to your house or your pets will definitely notice the odor. If you have carpeted floors or upholstered furniture, schedule a professional cleaning to power through even the most stubborn odors. If you know your pet marks a specific area of your house, scrub it clean and sanitize it with a pet odor-specific cleaner. This way, anyone who visits your home will be able to appreciate the property without the distraction of an off-putting odor.

Clean Up the Yard

Though the inside of your house is incredibly important and can make or break a buyer’s first impression, you’ll want to make sure your yard is just as clean as the inside. Pick up dog waste and dispose of it in your trash can rather than placing it in a pile to collect later. Home buyers interested in purchasing your house will spend time walking around the yard, checking the home’s exterior while also getting a feel for the space. Nothing will ruin that experience like stepping in pile of poo.

Pick Up Toys

If your pets are the type that love to play with a different toy every ten minutes, they likely spread them all over the house. Rather than leaving them out, pick up everything you can find. If your pup stashes their treasured tennis ball underneath the bed, you’re fine leaving it, but anything visible should be put away. It may also be helpful to avoid giving your pest strong-smelling chew toys like fresh bones or scented chews. These products often stain carpets and can leave the smell behind for days after your pets have finished with them.

Find a Place for Your Pets to Relax

During showings, it’s best if your pets can be kept away from the home. Barking dogs are enough to intimidate some buyers and may make the tour uncomfortable. While leaving your cat at home may be easier, there’s always the risk that they’ll run out the front door when the showing begins. The last thing you or your real estate agent wants is to lose your pet during the middle of a showing. Arrange a short-term stay with your vet or a local doggie daycare or boarding facility. Many will let you drop your pets of for a few hours at a time.

Ready to sell your home? Contact Elevation Group today and let our team match you with the perfect buyer.

Spring is just around the corner and for many homebuyers, the hunt for the perfect home is just starting in earnest. While you can buy a house in Observatory Park at any time of year, spring is one of the best seasons to start your house hunt. Here are a few reasons to start looking now rather than waiting putting it off until summer is in full swing.

More Homes on the Market

Moving in the winter is incredibly difficult, especially in Colorado. However, once the weather starts warming up, more people are prepared to relocate to new homes and cities. This means more homes are on the market at any given time, giving you and your family more options to choose from. Rather than settling on the single home in your ideal neighborhood, you’ll find more available listings at different price points to fit your budget.

School is Almost Over

Purchasing a home takes time and the home closing is often the longest and most confusing part of the process. Even after you’ve put an offer on the home it can take at least a month to get the keys. A springtime purchase means you might close on the house as late as mid-May, giving your kids the time they need to finish the school year strong. You’ll be able to move them after the academic year is over. This causes less disruption to their studies and helps ensure they stay on the same page as their peers in their grade level.

Avoid Increased Rent

In Denver and the surrounding area, leases on rental properties are often tied to the academic year. When you look into renewing your lease, you may find that the landlord is demanding an additional $200-300 for you to stay in the home. The cost of renting an apartment in Denver is among the highest in the nation. By buying a home, you’ll be able to save money on monthly expenses. Most mortgages will cost less each month than the rent you’re used to paying, and you’ll end up owning the home in the long-run.

Better Weather

As stated previously, winter can be harsh in Denver. By buying a home during spring, you’ll be moving into the house when the weather is at its best. Though we tend to get snow well into May, it never lasts long, and the longer periods of daylight help make packing late into the evening more bearable and convenient. Best of all, you’ll avoid much of the ice that a winter or early spring move might expose you to.

Tax Refunds

There’s no better way to use your tax refund than to invest in a new home. With refund checks arriving after April 15, you’ll likely have an influx of funds to help offset your down payment costs. Rather than stashing the money in a savings account, you can use it to help you get into your dream home.

Whether you’re searching for your first home or are looking for a larger property to accommodate your growing family, the real estate professionals at Elevation Group can help. Browse our latest listings and call (303) 962-4272 to schedule a showing today.

Deciding to buy a home is an exciting process, but once you find your dream home, you’re tasked with the challenge of finding the right mortgage for your budget and your needs. While finding the right house is a matter of personal preference, finding the right mortgage comes down to choosing between a fixed rate and adjustable rate loan. Your Observatory Park real estate team explains what you can expect when you opt for an adjustable rate mortgage.  

Adjustable Rate Mortgages Defined

Every mortgage, regardless of type, requires that you pay interest on the loan as part of your monthly payment. Fixed rate mortgages assess a steady interest rate over the life of your loan. Adjustable rate mortgages, on the other hand, have interest rates that fluctuate based on market conditions. The type of loan you choose is ultimately up to you, but there are a few pros and cons to adjustable rate mortgages that you’ll need to consider before making a decision.

The Pros

Adjustable rate mortgages often have lower initial interest rates on the loan. This, in turn, results in lower monthly mortgage payments and makes your first few months in a new home more financially feasible. Remember, buying a house requires a large upfront payment, but there are unexpected expenses like maintenance, emergency repairs, and upkeep you’ll need to cover in the beginning until you get to know the structure. Lower monthly payments means you’ll have more money to allocate to repairs or upgrades as needed.

Furthermore, you can start paying the loan down faster, taking advantage of the lower interest payments and applying more of your money to the principal of the loan. Adjustable rate mortgages are ideal for buyers looking to flip a home quickly or those who don’t plan to be in the home for a long period of time.

The Cons

Because the interest rates are variable, it makes it almost impossible to accurately estimate mortgage payments each month. This causes your monthly budget to vary wildly over the course of
the year and can put a lot of strain on first-time homeowners looking to save for the future. If you’re looking for a loan that provides steady and predictable payments month after month, you’ll be better off with a fixed rate mortgage. Remember, if you plan on staying in a home for years to come, you’ll likely pay less interest by opting for a fixed rate loan with a slightly higher interest rate from the get-go.

How to Find the Right Loan

The best mortgage for your needs is the one you can afford. Before you put an offer on a house, take the time to get quotes from multiple lenders. This way, you’ll be able to compare the amount of financing each company offers as well as the individual loan terms to ensure that you get the best deal possible.

Whether you’re buying your first home or are looking to upgrade out of your current house, the team at Elevation Group is ready to help. Contact us today to schedule an appointment with one of our experienced agents.