FIVE TIPS FOR FIRST-TIME HOMEBUYERS IN PARK CITY
You moved to Park City for the powder and stayed for the endless trails in the summer. You managed to save some cash and you are ready to buy your first home and stop living with roommates and paying high rent for seasonal leases. You are starting to think it might be a good idea to buy your own place you can call home. So, where do you start?
Here are five tips to start the process of buying your first home in the Greater Park City area:
1. Meet with a mortgage broker to see within what price range you can afford. Make sure you have the right amount of money in the bank for a down payment for your ideal home.
2. Look at the costs besides the final offer on the home. Do you have money set aside for mortgage payments? Home association dues? Home repairs and improvements? Insurance? Talk to your lender to make sure that along with your mortgage loan you have enough savings for hidden but necessary costs.
3. Is it critical that you live in the Park City limits? Do you have kids that you would like in the Park City School District? Decide where in the greater Park City area you would like to ideally live in. Would you consider moving out of Park City to get more space for less money? Would you consider Summit Park or the Heber Valley area?
4. What types of attributes are important to you? Do you want a single family home with a yard? Does a condo with less maintenance make more sense? If it will be a home-away-from-home would you like living in a condo in a hotel with amenities and services? How many bedrooms would be ideal?
5. Finally, choose a real estate agent that can help you find the perfect first home. There are many agents that specialize in helping first time homebuyers and that are experienced to help you understand the process of home buying in Park City, which is unique compared to buying property in a different town or state.
At Jess Reid – Christie’s International Real Estate, we have many experienced REALTORS that specialize in all areas in the Greater Park City area. Contact us today if you are interested in starting the process to purchase your first home, we will connect you with someone that you feel comfortable with and that you can trust. There are a lot of questions that you can ask yourself and it is never too soon to starting thinking about buying a home. The sooner you start asking yourself questions, the more ready you will be when you have the down payment and are ready to go!