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Home Buying Blogs – Durango

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

Found 28 blog entries about Home Buying Blogs – Durango.

By Ryan Poppe - Last Updated: Tuesday, March 17th, 2020.

4 Reasons to Purchase a Home With CashThere are many ways to buy a new home, but the most popular way to do so is by getting a mortgage. Mortgages are so popular that some people assume that they’re the only way to purchase a home, but this is incorrect. Purchasing a home in cash is another option that forgoes the home loan and pays for everything up front. It isn’t viable for everyone to use, but homeowners who can pay in cash absolutely should. Here are some of the reasons why home buyers should purchase their new home in cash if the option is available to them.

For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.

Sellers Love Cash Offers

If a seller has to pick between a cash offer and a

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By Ryan Poppe - Last Updated: Tuesday, February 18th, 2020.

Everything to Know About Floor Plans When Buying a HomeIt's rare for home buyers to spend a lot of time thinking about the floor plan where they're going to buy a Cortez home. What many home buyers don't realize is how much the floor plan of the home they buy will impact their personal happiness once they've settled into their house. Knowing the pros and cons of different types of floor plans can help you decide which type of floor plan is right for you.

Traditional Floor Plan Vs. Open Floor Plan

Traditionally, living rooms, dining rooms and kitchens had distinct walls and doors that separated one room from another. In recent years, open floor plans have become more popular. Open floor plans have fewer walls between rooms, and fewer doors as well. In an open floor plan home, the living room, dining

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By Ryan Poppe - Last Updated: Tuesday, January 21st, 2020.

Everything to Know About Buying in an Age-Restricted CommunityAge-restricted communities are developments specifically designed for seniors. Often, these communities have amenities designed to provide recreation and to promote a sense of community among residents. Knowing what to expect in an age-restricted community can help Silverton home buyers decide whether this type of development is right for you.

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

Make Note of Amenities

Age-restricted communities often have amenities for residents. Buyers thinking about purchasing a condo in an age-restricted community should find out what kind of amenities are available before making an offer on a property. Below are some

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By Ryan Poppe - Last Updated: Wednesday, January 8th, 2020.

What You Should Know About Pre-Approval and Pre-QualificationWhen purchasing a Southwest Colorado Resort home, a buyer needs to decide how they’re paying for the loan: with cash or a mortgage. If going the mortgage route, the buyer needs to apply for their loan of choice. When the buyer goes to apply, they may see two different options: get pre-qualified and get pre-approved. These two terms may sound similar, but they mean very different things, and choosing the wrong one at the wrong time can throw a wrench into buying a home. Here is what all home buyers need to know about the difference between getting pre-approved and pre-qualified for a loan.

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

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By Ryan Poppe - Last Updated: Wednesday, December 11th, 2019.

Financial Mistakes to Avoid When Applying for a MortgageIt's not uncommon for Pagosa Springs home buyers to spend a good bit of time finding the perfect home at a reasonable price. However, during all the excitement and anticipation of being a homeowner, it's all too common for buyers to make a few mistakes when getting a mortgage into place. Here are a few errors that should be avoided.

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

Failing to Factor the True Cost of Owning a Home

Even buyers that stick with the concept of ensuring their mortgage payments are less than 30 percent of their pre-tax income quickly discover that there's more to ownership than monthly payments. Forgetting about

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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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