First time home buyers may often feel they are alone in the Denver real estate market. But the reality is they aren’t!
“In May, first-time buyers accounted for 59.1% of primary owner-occupied home purchase mortgages with a government guarantee, according to the International Center on Housing Risk. This share was up measurably from a year ago.”
Home Buyers have Assistance
Buying a home has become easier for those first time buyers. Lower down payments, down payment assistance programs, 100% gifting allowed from parents, historically low interest rates and lots of employment opportunities in Metro Denver are all reasons making it easier for first time buyers to buy a home.
The Challenge is in Finding and Negotiating
The biggest challenge is finding the home! The inventory of homes for sale is not very large, but it is consistent. The biggest change here than from in the past, home buyers must be patient and diligent. It takes time to find a home, bid on it and have your offer accepted. I’ve written about how to do this previously in “How to write a Clean Offer.”
So if you are a first time buyer don’t give up. Research the best methods for obtaining your home and give me a call. I’m happy to assist you!