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Aspen Real Estate: Knowing When To Buy

aspen real estateThe Aspen real estate market is full of beautiful luxury homes for sale. The area is home to famous actors and musicians and boasts some of the most breathtaking ski resorts in the U.S. If you're considering buying or renting your first home in the Aspen, CO area, here are some tips to get you started.

Do your own research.

News anchors might be raving about rock-bottom prices and low interest rates, but what really matters is your own research. Take your time to study up on the median prices of Aspen homes in your target neighborhood. Find out the ratio of prospective buyers to homes on the market. Compare the data to that of surrounding suburbs, and take into account your budget and the average sizes of the homes. Do the local attractions fit your needs and lifestyle? How close is the nearest shopping center? If you have kids, research the schools in the area.

Inspect the property carefully.

Savvy sellers are skilled at showing off their spaces. Before you fall head over heels for a home, check for hidden issues such as cracks, structural problems, working power outlets, and problematic HVAC units. Even new luxury Aspen homescan have plumbing issues, and problems with mold and mildew. Look carefully and don't be afraid to ask questions.

Talk with your Aspen real estate agent.

Discuss your life goals for the next five years and determine whether your target home is worth the purchase. Mortgage payments, closing expenses, property taxes, and other costs can quickly rack up and leave you with a loss if you don't plan to stay long. If you see yourself moving often, consider looking into luxury Aspen condos instead.

For more information on homes in Aspen, CO, contact us today.

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