If you’re considering buying a home in Denver, CO, in 2022, we have good news! Our real estate experts are predicting a more balanced market, meaning buyers will have an easier time navigating the market! While it won’t be shifting into a buyer’s market anytime soon, professionals in the industry say that the supply of homes is forecasted to increase, which will slow down the rapid price spikes we’ve seen as of late. If you’re ready to buy a home this year in Denver, CO, we suggest taking the following steps to ensure you’re prepared to secure your dream home as soon as it’s listed. 

Are You Ready to Buy a Home in 2022?

When considering the time, money, and stress of buying a home, you must make sure that you are ready to take on the responsibility of homeownership. There are some personal considerations to take into account when you decide to buy a home in 2022. 

Personal Factors

To get the best return on the home you buy, you want to stay put for at least five years. Be prepared to settle down by selecting a place that is in sync with your personal and professional life goals. Also, ensure that you research the neighborhood and choose a location that fits you and your family’s needs! 

Financial Factors 

Buying a home is much more than a down payment—can you cover the cost of closing fees, property taxes, HOA, and home repairs? When getting preapproved for a mortgage loan, lenders consider your credit scores and debt-to-income ratio. This means that you need to ensure your finances are secure before applying for a mortgage. 

Another critical factor to consider is your employment. If you don’t feel secure at your current job, you could lose it, leaving you with a mortgage payment you can’t cover. If you feel stable and secure at this point in your life, it might be a good time to invest in a home. 

Buying a House in 2022

Besides working on the criteria for your dream home (maybe 3 bedrooms, 2 baths, and a swimming pool), you must have these things to prepare to buy a home:

Pre-Approval

This one is essential! A mortgage pre-approval proves to sellers that you are a serious shopper in the market. In fact, some homeowners won’t even let you walk through the doors without one in this market! In addition, with a mortgage pre-approval, you know what is within your budget and what you can afford, so you don’t waste time viewing homes you can’t get. You can also put in offers immediately after seeing a home you’re interested in! 

A Local Real Estate Agent

A real estate agent you can trust will give you valuable home-buying advice and help you understand each step of the process! Working with an authorized local real estate agent gives you insight into current market conditions and you can even receive exclusive access to homes that may not even be listed yet. In addition, they will have relationships with local experts, such as home inspectors, that will be helpful to you during the home buying process. Having people on your side is so important in a seller’s market! 

Patience 

In this competitive marketplace, patience is key! Don’t get discouraged, and keep searching for your dream home. New listings are always coming on the market, so be prepared to hop on these opportunities quickly. 

Moving Forward

Working with a team of expert realtors can help take the stress out of buying a home, especially in this market! Low inventory can make people hesitate when considering making a move. However, we can get you access to off-market homes that match your exact home buying criteria before they are listed online or in MLS, which will help you beat out other buyers looking at similar homes! We also have many unique strategies to help our buyers find that perfect home. Call now to get this exclusive access and let us help you save time, money, and stress! Call us now at 303-529-0697.