Your Home Sold Guaranteed Realty - Barb Has the Buyers Team

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What to Avoid When Buying a Colorado Springs House?

Wondering what to avoid when buying a Colorado Springs house? Buying a home is one of the biggest financial decisions you’ll ever make. In a real estate market as competitive as Colorado Springs, it’s crucial to approach the process with care to avoid costly mistakes. 

In this blog post, Colorado Springs real estate expert Barb Schlinker and the professionals at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss seven mistakes you should avoid when buying a home.

Key Takeaways:

  • Getting pre-approved for a mortgage shows sellers that you are a serious, qualified buyer who has already secured financing
  • A qualified local agent can share invaluable market insights, negotiate skillfully on your behalf, ensure you don’t overlook any legal obligations, and ultimately help you avoid preventable pitfalls. 
  • Submitting extremely low offers just to test the waters with a seller will likely waste valuable time and cause you to miss out on potential homes.

What to Avoid When Buying a Colorado Springs House?

Not Getting Pre-Approval First

Getting pre-approved for a mortgage shows sellers that you are a serious, qualified buyer who has already secured financing. It also helps you during your home search by making it easier to understand your true price range and monthly payments. This prevents you from overextending your budget.

Not Budgeting Properly for All Costs

When buying a home, there are plenty of extra costs beyond just the purchase price. Don’t underestimate expenses like closing costs (around 0.7% of the home price in Colorado Springs), moving costs, new utility setup fees, renovation costs, etc. Create a budget that takes into account all these costs for an accurate idea of the expenses you can expect to pay.

Not Hiring an Experienced Local Agent

While the internet provides plenty of listing information, there’s no substitute for an experienced real estate agent who’s deeply familiar with the Colorado Springs housing market. A qualified local agent can share invaluable market insights, negotiate skillfully on your behalf, ensure you don’t overlook any legal obligations, and ultimately help you avoid preventable pitfalls. They also have access to the most up-to-date market trends and exclusive databases that can’t be accessed online.

Not Defining Your Neighborhood Preferences 

Knowing exactly what you want in a neighborhood is key. Do thorough research on factors like crime rates, school district quality, commute times, walkability, price ranges, and availability of public transportation. Having clear priorities will help narrow your search to areas that match your criteria and budget.

Submitting Lowball Offers

Submitting extremely low offers just to test the waters with a seller will likely waste valuable time and cause you to miss out on potential homes. Many sellers won’t bother negotiating with lowball offers and will move on to other options instead. For this reason, you should make sure your offers are reasonable from the start. Use recent comparable sales information and market data to find a fair price.

Getting Involved in Bidding Wars

With limited housing inventory, bidding wars between buyers have become common in hot markets like Colorado Springs. While some competition is normal, avoid letting your emotions take over and massively overpaying just to “win” a property. Stick to your predetermined maximum price range- going over could cause significant financial strain.

Skipping a Home Inspection

No matter how nice a home looks on the outside, you should never skip a professional home inspection. A proper inspection can uncover major underlying issues like roof damage, plumbing problems, or structural defects. If left undetected, these problems could cost you tens of thousands to repair down the road.

Barb Schlinker is the Best Realtor in Colorado Springs

What to Avoid When Buying a Colorado Springs House?
Barb Schlinker

By avoiding these seven common mistakes and working with a qualified Colorado Springs real estate agency, you’ll be well on your way to finding your dream home. If you’re looking for the best realtor in Colorado Springs, look no further than Barb Schlinker and our team at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team. 

Throughout our 27-year-long career, we’ve developed a reputation for high-quality customer service, attention to detail, and a stress-free experience thanks to our VIP Buyer Program. With this program, you get curated property hotlists, free home-buying resources, and our unique Buyer Satisfaction Guarantee

To learn more about buying a house in Colorado Springs with our team, reach out to us today at 719-301-1802 or [javascript protected email address]. Don’t wait to find your dream home!

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!

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