If you haven’t been living under a rock for the past couple years, you’re probably already aware how competitive the Denver housing market it. Demand is high and supply is low, which means it could be months before you get your mortgage preapproval to when you move into your new home. The road to homeownership can be bumpy, especially in extremely hot markets, but it’s worth it. And it helps if you prepare yourself for the journey. Check out the tips below and make your home buying experience as painless as possible.

1.     Set realistic expectations
Buying a home is not an overnight process, and understanding that homebuying timeline prepares buyers mentally, emotionally, and financially to see this process through.  Everyone wants a bargain, but buyers need to recalibrate the meaning of that word, so it applies to today’s competitive environment.

2.     Determine where you’ll compromise
According to the National Association of Realtor’s 2020 Home Buyers and Sellers Generational Trends Report, more than three-quarters of home buyers in their 20s and 30s made compromises. So, before you start seriously looking at homes, decide what you must have and what your deal breakers are.

3.     Make decisions fast
In today’s market, many homes are on the market for just days, so it’s important to make an offer quickly once you find one you like. Let your list of deal breakers be your guide. If a home meets your criteria, including an acceptable price, it may be worth making an offer, quickly.

One of the most important steps in starting your homebuying journey is finding and experienced professional who can help you navigate the waters. If becoming a homeowner is on your wish list for 2021, give Metrowest a shout today – we’d love to help you start the process!