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Pro Tips to Buy a Home in Boulder Market

Buying a house in the Boulder market can be a very frustrating experience. This is due to the influx of people moving to the state, investors who are buying many of the available homes to turn into rental properties, and the limited number of homes that are for sale. In this market, it is common for a house to get huge number of offers within just a few days of being listed on the market. So, how can you buy a property in this type of market? There are a few things that you can do to increase your chances of getting your dream home, or a great rental property.


Be Flexible When Look at Real Estate

 Most people will only search for one type of house, like a single family home. However, with the Boulder real estate market being a sellers’ market, if you look at different options like townhouses, and condominiums, this can open up many more options. This is especially important when you are trying to stay in a desired neighborhood. Creating a must have and a nice to have list can help put what you are really looking for in a house clear to a realtor. This also helps when you are looking to buy a rental property.

Also, you should be flexible with your budget. Know what you can afford and look at homes that are $50,000 less than your budget. In a highly competitive market, you are most likely going to have to bid above the asking price, having a buffer means that you have the extra money to play with.


Be Pre-approved Before Entering the Real Estate Market

In a sellers’ market, homes can sell within a just a few days of being on the market. This means that buyers need to be ready to make their bids. Having a sizeable down payment is helpful, and you should already be pre-approved for a mortgage to make sure you are able to get your bid in.


Get the Real Estate Essentials Done

In a hot market, some buyers may try to speed up the process by opting out of the home buying essentials. Inspections, appraisals, and warranties can be opted out of, but this is a dangerous idea. A home can have very serious problems, which are not always obvious at first glance.


Research the Real Estate Available

Gone are the days when you had to drive around looking for properties that are for sale. Nearly all buyers will start their real estate search online. If you are working with a realtor, they may also send you e-mails about the properties that are just hitting the market. This is important as you will see the listing earlier, and be able to get a bid in faster.

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