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Home Buying Blogs – Durango

Home buying advice for Durango residents from the Colorado Property Group.

Found 23 blog entries about Home Buying Blogs – Durango.

By Ryan Poppe - Last Updated: Wednesday, October 30th, 2019.

Renting to Tenants? Here's What You Need to KnowRenting an Animas Valley home is a big decision. While renting can bring in a lot of needed income, it can also be a big responsibility. Rental properties must be properly cared for and the needs of the tenant must be managed.

If you've never rented a home to tenants before, you have a lot to learn before you can put your home up for rent. Here's what you need to know about taking care of a rental property.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Familiarize Yourself With Tenant and Landlord Laws and Rules

Laws that protect landlords and tenants vary from one state to the next. Landlords must be familiar with their own rights and the rights of

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By Ryan Poppe - Last Updated: Wednesday, October 16th, 2019.

What to Know About the 1031 ExchangeThe 1031 exchange is a way for owners and investors to defer capital gains tax when selling an asset. This is one of the more complicated transactions to successfully complete, especially now that the tax code has changed. Learn more about how 1031 exchanges work, how they can save Animas Valley homeowners in the short-term, and what can be done to maximize the efficiency of the exchange.

For informational purposes only. Always consult with a certified tax expert before proceeding with any real estate transaction.

The Basics of a 1031 Exchange

A 1031 exchange occurs when an owner sells an appreciated property and simultaneously purchases property of the same value. When the owner completes a 1031 exchange, they are exempt from paying capital

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By Ryan Poppe - Last Updated: Wednesday, October 2nd, 2019.

Understanding Earnest Money DepositsWhen people start learning about the home buying process, they may quickly realize that buying a home requires proving they are willing to make a commitment. Sellers want to know that buyers are sure they want the house, and they often require an earnest money deposit as a sign of good faith. There are a few rules that buyers should know before they put this money down, however. This information will help Durango buyers determine what to do when they are ready to invest into a particular property, and which scenarios allow them to get their deposit back.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

1. How Much Money Do Buyers Need for an Earnest Money Deposit?

The

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By Ryan Poppe - Last Updated: Tuesday, September 17th, 2019.

verything You Need to Know About Refinancing Your HomeIf you have a loan of any type, whether that's a home loan or a car loan, then you've probably heard a thing or two about refinancing a home mortgage. Knowing what refinancing is and how it can benefit you is an important part of budgeting. After you've owned your home for a while and have built up equity in the property, you may be able to take advantage of a refi. Before you get started with the refi process, you should understand what it is and what it entails. Here's what you need to know.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What Is Refinancing?

Refinancing is what happens when a homeowner uses a new loan to pay off their old home loan,

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By Ryan Poppe - Last Updated: Tuesday, August 20th, 2019.

Buying a Home with a Septic Tank?Septic tanks are a solution for those homes not hooked up to a municipal waste system and a surprisingly common feature found in urban, suburban and rural homes. With almost 20 percent of homeowners having a septic tank serving their home, people are not as wary of septic tanks as one may think. Homeowners, rather than the town or city government, is responsible for managing a septic tank. A benefit of having a septic tank is that an owner does not need to pay municipal sewer fees. Learn more about what to expect when buying a home, especially in a tight housing market, with a septic tank.

Septic Tank Basics

All the wastewater of a home will be transferred to a septic tank. Materials will begin to separate and settle, with solids settling and

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By Ryan Poppe - Last Updated: Tuesday, August 6th, 2019.

What to Expect from a Home AppraisalFor most people, completing the home buying process will involve getting an appraisal for the property they want to buy. This is a common way for the buyer and the lender to determine if the home is priced appropriately for its value. Like many aspects of home buying, the appraisal has a lot of individual factors that can affect the final result. Here's what buyers need to know about appraisals, so they can better prepare for this step.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What Is an Appraisal?

An appraisal is a detailed estimate of a home's value. It is typical for anyone who wants to buy a piece of property that is expensive or is likely to

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By Ryan Poppe - Last Updated: Tuesday, July 2nd, 2019.

Adjustable or Fixed-rate MortgageThe average homebuyer financing their home may only be focused on getting approved for a mortgage loan by their mortgage lender and know little about how interest rates may impact them over the lifetime of their home loan. When it comes to home mortgage loans, there are a number of options available with homeowners eligible for an adjustable rate or fixed-rate mortgage.

Homeowners need to make timely monthly payments on their home loan. However, some types of home loans may lead to financial stress in the future, as when the interest rates on a sizable home loan increase. Learn more about adjustable and fixed-rate mortgage loans to pick the best option for specific homeownership needs.

For informational purposes only. Always consult with a

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By Ryan Poppe - Last Updated: Tuesday, April 30th, 2019.

4 Red Flags You Need To Know When Buying a New HomeBuying a new home is a huge undertaking that can change lives for better or for worse, and buyers need to be on the lookout for things that can potentially harm them so they can protect themselves from a bad deal. Knowing the different red flags can help buyers decide if the home they’re looking at is the home of their dreams or if it’s actually a nightmare in disguise. Here are some of the big red flags all home buyers need to be looking for when attending home showings so they can protect themselves from a bad investment.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

1. The Listing Has Few or No Photos

Photos are extremely important when trying

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By Ryan Poppe - Last Updated: Tuesday, April 16th, 2019.

Should I Pick a 15 or 30 Year Mortgage?When buying a new home, most people will need a loan or mortgage. So deciding between a 15- and 30-year mortgage is an exercise in future planning that not all home buyers want to complete. Overwhelmed at the expense of the down payment, a homeowner may choose a 30-year without really thinking. But before choosing the more budget-friendly payments of a 30-year mortgage, it may be time to consider what that will spell for a person's overall finances. Here are a few key points to keep in mind before opting for a mortgage type.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Remember the Interest

For some home buyers, there's no question between the two

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By Ryan Poppe - Last Updated: Tuesday, March 5th, 2019.

What Home Buyers Should Know About PoolsFor some people, having a home with a pool is the ideal dream. Pools can be great, especially during the hot summertime, and they can be an excellent excuse to invite friends over for a get-together to have a barbeque and go for a swim. However, pools require a lot of special attention that isn’t necessary otherwise, and some home buyers go into getting a pool without knowing what they’re getting into. Sometimes, it might be best for a homeowner to construct an addition to their home vs. spending the money on a pool. Here are some of the things home buyers need to account for when they buy a home with an existing pool or are considering building a swimming pool.

Home Inspections Usually Don’t Cover Pools

When buying a new home, and getting a

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