How Do I Get Ready to Buy My First Home in Erie?

If you want to buy your first home in Erie, the best way to get ready is to start before you feel ready. Talk with a lender first, so you know what you can comfortably spend. Then sit down with an agent who will walk you through the whole process, learn what your budget buys in the towns you like, and write down what you need in a home and what you can live without. You can do every one of those steps while you're still renting, and none of them commits you to anything.

Most first-time buyers I meet tell me some version of the same thing: "I don't even know what I don't know." That's exactly where you should be. Nobody is born knowing what a pre-approval is or how long a home search takes. Getting ready is mostly about turning a big, blurry goal into a short list of next steps.

I'm Carol, and Homes by Carol is my real estate practice. Carol Vanlandingham is a REALTOR® with eXp Realty in Erie, Colorado, helping people through life transitions, downsizing, first homes and relocation across Erie, Boulder County and Northern Colorado.

Earlier than you think. Some buyers call me a year before they plan to move. Others call when their lease has three months left. Either one works, but more time gives you more choices.

An early start lets you fix small things before they become big ones. If a lender tells you a few more months of saving would help, you have time to do it. If you learn that the homes you want cost more than you expected in one town, you have time to look at another.

It also takes the pressure off. When you already understand the steps, finding a home you love doesn't feel like a test you didn't study for. You can make a clear decision instead of a rushed one.

A conversation with me costs nothing, and it doesn't lock you in. If buying is a year away, we can talk now and pick it back up when you're closer.

Here's the order I suggest to first-time buyers. Each step is explained in more detail on my How I Help You Buy page.

Step 1: Talk with a lender

A lender looks at your income, your savings and your credit, and tells you what you can borrow. That conversation turns "I think we can afford something" into a real number. I always ask buyers to be pre-approved before we tour homes.

Your lender is also the right person to ask about loan types, how much you'll need for a down payment and any down payment help you may qualify for. Those answers depend on your situation, so I leave them to the expert. If you don't have a lender yet, I have a list of lenders I recommend, and you're free to use anyone you choose.

Step 2: Gather your paperwork

Your lender will tell you exactly what they need. It usually includes things like recent pay stubs, bank statements and tax returns. Keeping them together in one folder makes the pre-approval go faster, and you'll need many of the same papers again later.

Step 3: Meet with me before you tour

Before our first showing, we sit down together. I walk you through the whole buying process from start to finish, so you know what's coming and when. We also go over the written buyer agreement line by line. It spells out what I'll do for you and how we'll work together. Ask me anything about it before you sign.

Step 4: Write your list

Get specific about how you live. Where do you drive every day? What do you want close by? Do you want a yard, or would you rather not mow one? Split your list into two parts: the things you need, and the things that would be nice to have. That list keeps the search focused, so you see fewer homes and better ones.

Step 5: Learn what your budget buys

First homes here come in different forms, including condos, townhomes and single-family houses, and prices vary from town to town. We look at real homes in the places you like, so your expectations match the market before you fall for something out of range. Sometimes this step changes the search area. Sometimes it changes the wish list.

Step 6: Start touring

Now you're ready. When you find a home that fits, you can make an offer with confidence, because you already know your numbers and the steps ahead.

Shea and Justin had been renting for four years when they decided they were ready to buy their first home. Like most first-time buyers, their biggest hurdle wasn't one specific thing. They simply didn't know what they didn't know.

So we started from the ground up. I walked them through each step of the process and connected them with one of the local lenders I trust to get pre-approved. From there, we toured a range of Erie neighborhoods and several homes, comparing each one against their budget and their must-haves.

They found their home in Sweetgrass, just east of Erie High School, with a neighborhood pool, a big backyard and a price that fit their budget. At the final walkthrough, they were already talking about paint colors, new flooring and which light fixtures they wanted to change. That's the moment it stops being a transaction and starts being a home.

What made it work was the order. They got ready first, and then they looked. You can read more about them in my post on Erie neighborhoods for first-time buyers.

Erie has grown a great deal over the last 20 years, with many newer neighborhoods. It's about 15 minutes to Boulder and to Longmont, about 35 minutes to Denver International Airport and about 40 minutes to Denver, depending on traffic.

One detail surprises a lot of first-time buyers. Erie sits in two counties. West of County Line Road is Boulder County, and east of it is Weld County. I work both sides. When we look at a specific address, it's worth confirming which county it's in and which school district serves it, because those can differ even within the same town.

The town center has a rec center with a large pool and lap lanes, plenty of restaurants and a farmers market on Thursday evenings in summer. There's more on my Erie page.

If you're open to nearby towns, Longmont has homes at many price points, and from most neighborhoods you get a view of Longs Peak. You can read about it on my Longmont page.

These are the ones I see most often, and every one of them is easy to avoid.

• Touring before talking to a lender. It's fun to look, but falling for a home you can't buy yet is hard. The home buyers lose is often the one they weren't ready to make an offer on.
• Guessing at the budget. An online calculator is a starting point. Your lender's number is the real one.
• Opening new credit while you're getting ready. A new car loan or credit card can change what you qualify for. Ask your lender before any big purchase.
• Only looking at photos. Listings show you the house. They don't show you the drive at rush hour or the street on a Saturday. Visit the towns you're considering.
• Not asking questions. Every question is a good one. I'd much rather explain something three times than have you sign something you don't understand.
• Waiting until the lease is almost up. A tight deadline can push you into a rushed choice. Give yourself room.

How long does it take to get ready to buy a first home?

It depends on where you're starting. Some buyers are ready soon after they talk to a lender. Others take a few months to save or prepare. An early conversation tells you which one you are.

Do I need to be pre-approved before I talk to an agent?

No. You can talk to me first, and I can share the lenders I recommend. You do need to be pre-approved before we tour homes.

How much do I need for a down payment?

It depends on the loan, and a lender is the right person to answer that for your situation. They can also tell you about any down payment help you may qualify for.

Can I start the process while I'm still renting?

Yes. Every step in this article can happen while you rent, and it's the best time to do it.

If you're thinking about buying your first home, even if it's a year away, an early conversation gives you time to prepare. You can read more on my first-time buyers page. When you're ready, send me a note or call me at (303) 522-3130, and we'll start wherever you are.