How to Formulate Your Homebuying Game Plan

by Barb Perruccio & Britt Glassburn 03/01/2020

Photo by Fizkes via Shutterstock

If you know absolutely nothing about buying a house, don’t learn the hard way. There’s plenty of information available to help you avoid the many potential pitfalls in the process. You want your first home buying experience to be exciting, not exhausting. Here are some tips to get you started the right way.

  • Know when you’re ready. Sometimes the pressure to buy comes from well-meaning family and friends. Even your boss might press you to buy a home. But there are personal and financial milestones you need to pass before jumping into the housing market. These include paying down debt, monitoring your credit report and credit scores and freeing up cash to save for a down payment. If you can’t adjust your cash flow so that you can set some funds aside, you may not be ready to buy a home. Yes, there are zero-down and low-down-payment loans out there, but you still have closing costs, taxes, insurance and maintenance to cover. If you’re not there yet, start by making small adjustments to your financial picture. Trying living on a budget. You’ll find plenty of apps online or for your phone to help you follow the money. Once you know where your money goes, you can redirect it to where you want it.
  • Learn what you want. While you’re working on your financial adjustments, start visiting open houses. Go to single-family homes, new builder developments, condominiums, townhomes, patio communities and hi-rise buildings. Keep a list of what you like and dislike about each. Then, consider the time it takes to maintain the property. Calculate the hours spent mowing the lawn or caring for landscaping, or the cost to have it done for you. Consider if you want a ready-to-live-in home, or if you’re up to the challenge of a renovation. If so, will you do the work yourself or hire out to have it done? While not a perfect depiction, watch television shows about home renovations and remodels. You’ll see some of the disasters that might be lurking behind an innocent-looking wall.
  • Hire the right help. Buying a home for the first time is not the time to go it alone. Hire a professional real estate agent that represents buyers. You need someone in your corner during negotiations and the contract process so that necessary paperwork gets completed and a seller’s potential lack of disclosures doesn’t slip by you. Your agent can refer a home inspector to find out everything that might need repairs. Then they can negotiate for you to get the price reduced or the item fixed during the closing process.

If you follow these suggestions, when your agent finds the perfect home, you’ll be ready to take the exhilarating leap to purchase your first home.

About the Author
Author

Barb Perruccio & Britt Glassburn

BARB PERRUCCIO / MANAGING BROKER

I have been a Wash Park resident and investor for 20 years and a dedicated real estate professional for the past 14 years. I have a degree from Arizona State University from the College of Engineering and Applied Sciences, Graphic Communications in Printing Technologies. I worked in Sales in the Advertising and Marketing industry in Manhattan for 12 years, San Francisco for 2 years and chose to settle in Denver to raise a family. I now have 3 beautiful children and enjoy living and working in Wash Park!

As a Realtor in Colorado, I have leveraged my sales and Sr. Management skills to ensure each and every transaction runs smoothly. As a Certified Negotiation Expert (TM) in real estate and with over 33 years of sales and marketing experience, I am a strong negotiator and will negotiate diligently on your behalf.

Whether you are planning to buy, sell, build or invest in real estate, I have the knowledge to guide you through the process smoothly and take great care in providing the best and most professional service!  My goal is to build strong relationships in our community one person at a time.

BRITT GLASSBURN / BROKER ASSOCIATE

I have lived in the Denver Metro Area on and off since 1977 and have been investing in the Denver Home Market since 1993. This included doing fix and flips and owning rental properties. I have a degree from the University of Colorado in International Affairs. I have worked extensively in the Sales, Account and Project Management industry and enjoy helping people through the real estate transaction process. In 2014 I decided to obtain my real estate license and work as a full time broker associate. I am a Certified Luxury Home Marketing Specialist and Certified Residential Specialist. My goal is to assist you throughout the home selling and buying process as I have the necessary knowledge to provide you with the necessary information when purchasing a home! We are here to make the transaction as smooth as possible!