What do you need to know about buying a home in Milliken Colorado?
Milliken has a very competitive housing market with few homes listed for sale. The housing market in Northern Colorado has changed greatly in the last four years. Homes in some neighborhoods have doubled in value thanks to high demand and low supply.
Prior to 2012 the market was driven by foreclosures and distressed sales, but those have all but disappeared. It is very tough to find any houses that are less than $200,000, unless they need a great deal of work.
Even though home prices have risen significantly in Milliken the last four years, there is some good news for home buyers. Interest rates continue to be at record low levels, which make owning a home much more affordable. The majority of a mortgage payment goes to paying interest. A 1 percent lower interest rate can mean close a $40,000 increase in buying power in the $300,000 price range.
If you are looking to buy a home in Milliken, you will need a great team to help you through the process:
- Real estate agent: A great real estate agent can help you find the right home, act on your behalf and help you navigate a tight market. Acting fast is sometimes the best way to get the home you want in a tight market. Our agents are dedicated to our clients and we give them plenty of support to work quickly for you.
- Mortgage broker or lender: A mortgage broker or lender can help you find the best financing. There are many first time home buyer programs available in Colorado. There is even grant money they government will give to home buyers, but many lenders are not familiar with these programs. Our team can also help you find the right lender who can get you the best loan.
- Home inspectors: A home inspector can tell you the major items that are wrong with a home and all the little things that may need fixed as well. When you are making a big investment, you need to be sure in what you are buying. We can also help you find a great inspector.
Contact The Ferguson Team