Are you one of those people who cannot live without a daily dose of adventure and an active lifestyle? If so, Vail in Colorado is the place to be. Let’s check out a few statistics of this charming town high in the mountains of Colorado.
Vail is the largest ski resort in Colorado, spread over 5,317 acres. It is also 2nd only to Big Sky as the single biggest mountain ski resort in North America.
But that is only one part of the story, the winter, when tourists flock in hordes to Vail from all over the world for a spot of fun and frolic in the snow.
When the weather warms up, Vail becomes the perfect summer escape offering activities and events for residents of all ages, from kids to the elderly looking to play a round of golf. Go hiking or mountain biking in the Vail Mountain, or be on the golf course throughout the day.
And when the Fall season comes around, enjoy the vibrant colors and a host of events. The harvest festivals and the Oktoberfest that capture the Bavarian spirit of beer and delectable cuisine will surely take your breath away. While the town is dependent largely on tourism, the residents here are one happy lot, living life without a care in this world.
It is therefore not surprising that if you want to relocate here, look for a home for sale in Vail, Colorado, and settle down for good.
But how do you go about it? Contact Just Livin Realty offering top-class residential moving services to Vail, Colorado. Whether you are looking for any Vail, Colorado houses for sale, specifically luxury homes or Vail village homes for sale, we at Just Livin Realty have you covered.
This guide will now take you into the various aspects of Vail home sales so you get the best of what you are looking for.
How to Choose Property For Sale in Vail, Colorado
When you contact us before looking for property for sale in Vail, Colorado, we will first walk you through the various types of properties that you can choose from. This is essential as you must choose a house that not only meets your space requirements but also fits your budget.
Types of Homes for Sale in Vail, Colorado
So, what are the types of properties that are available for sale in Vail, Colorado?
Single-family homes: These are independent standalone homes without any common boundary wall. You have a dedicated garage and driveway on the premises and the maximum common divide can be a fence between your lawn and that of your neighbor’s.
Condominiums: Condos are several privately owned units within a single building structure. As an owner, you have rights only to the interior walls but not the exterior structure. You have to pay maintenance charges for the use of common areas such as hallways, pools, gardens, and parking.
Duplexes: These are two different dwelling units in one structure with a common wall if they are side-by-side, or sharing a floor and ceiling for two-story construction. There are two separate entrances to the units.
Townhomes: These are the most common homes for sale near Vail, Colorado. Townhomes are multi-story buildings built side-by-side. Both the exterior and the interior of the units are owned by the buyer of a unit. Residents have to pay monthly maintenance charges for all shared amenities like swimming pools, parking, utilities in common spaces, and hallways.
Before relocating to Vail, Colorado, decide on the type of house that best meets the requirements of your family and the budget you will be comfortable with. Typically, single-family homes are at the top end of the market because of the privacy they provide. Townhomes for sale are in demand in Vail because of their affordability.
Our experts will come up with the perfect answer for you when we discuss things across the table.
Where Would You Like to Stay in Vail, Colorado
Once you have selected the type of home, the next step is to choose the location where you would like to stay. Just Livin Realty offers east Vail homes for sale, Vail village homes for sale, and even homes for sale near Vail, Colorado. Simply inform us of your preferred location and we will have you covered.
Here are some of the factors that you should consider when you are looking for a home for sale in Vail, Colorado.
Parking: This should be on top of your list of must-haves, especially if you do not have dedicated parking as in single-family homes or parking slots as in condos. Street parking is the only option for you and you should check the availability before selecting a house in the locality. Visit the area over weekends or at night when most cars are parked to check if there is space for yours.
Distance from basic facilities: Would you rather take your car out every time you want a bag of groceries or would you rather walk to the store? Apart from the health factor, you would save a lot on gas if your house was near shopping malls, grocery stores, and even playgrounds if you want a jog in the morning.
Also, check for top-rated schools in the location of your choice if you have school-going kids. This is important as commuting from school is a daily affair. This is one reason why houses for sale near schools have a higher price tag than the usual median prices.
Property taxes: Property taxes are not standardized within a state and can vary based on neighborhoods too. However, you will get all the details about taxes in Vail locations when you get in touch with us at Just Livin Realty. Once you decide on a neighborhood, all details about taxes will be provided to you.
However, it is always wise to visit the selected locations several times at different hours to judge the quality of life that residents have.
Steps to Buy Property for Sale in Vail, Colorado
We have elaborated on why Vail is a town where you would love to stay, never mind what time of the year it is. But as in every town or city in the USA, going through the complexities of a property deal is not easy. Several rules and regulations govern real estate transactions in the country and Vail is no exception.
However, our real estate professionals at Just Livin Realty will shoulder all the responsibility on your behalf when you look for Vail Colorado houses for sale.
Follow these two steps when you buy a house in Vail, Colorado to make the experience fully hassle-free.
Contact a reputed real estate agent
To make the task of the agent that much easier to get you the ideal home in Vail, Colorado, you should first get your finances in order. Arrange for a mortgage and obtain a pre-approved loan letter as per your eligibility. This will help the agent know your financial strength and look for a house accordingly.
Going house hunting through a licensed real estate agent is always advisable. As a newcomer to Vail, you will not know about the prevailing market conditions, the preferred locations and neighborhoods, and whether there are any issues with a house selected by you. However, we at Just Livin Realty have years of experience in the real estate industry in Vail and can help you get your dream house.
Most importantly, apart from the cost of documentation and drawing up contracts, you do not have to pay anything for the services rendered by us. Commissions on the sale price are paid by the seller and the amount is divided between the seller’s and the buyer’s agents.
Draw up a contract
Your real estate agent will take care of all the formalities needed to put the keys to your new property in your hands. Not only will you be assured of a fair deal but also, the negotiations over price and other aspects will be carried out on your behalf.
But ensure that the agent includes a couple of critical clauses in the contract. The first is that you should be able to walk away from the transaction should the deal not materialize. It usually happens when the mortgage sanction falls through or it comes to light that the selected house has certain issues that necessitate costly repairs.
The second aspect can be taken care of though. Just Livin Realty has a network of contractors who will carry out the repairs for a price. Our appraiser will then determine the market value of the property. In most cases, these expenses are adjusted from the asking price by the seller. Get these renovations done before you move in to avoid any adverse surprises later.
Types of Mortgages and Which Should You Choose
Knowing about the type of mortgage will help you decide which is best for you given your financial condition. Apply and get a sanctioned mortgage in-principle offer letter in hand before starting to look for Vail Colorado houses for sale.
Most first-time homebuyers are tempted to pay only a minimal down payment without realizing that it is beneficial to the lender only. You will be paying thousands of dollars extra in high monthly payments during the tenure of the loan.
Here are some of the types of mortgages that you can choose from.
Adjustable-Rate Mortgage (ARM): During the initial stages of the loan, ARMs have a low interest rate when compared to other types of mortgages. But later, these rates start to rise along with your monthly payments.
Veteran Affairs (VA) Loans: This mortgage is available for both a veteran and a spouse. Though you can get a mortgage sanctioned at zero down payment, there are additional costs linked to it. A fee of 3.3% of the cost of the house is charged with the interest rates being quite high.
Federal Housing Administration (FHA) Loans: This loan is ideal for people with a low credit score. Another seeming attraction of this loan is a small 3.5% down payment. But then comes the catch! There are several upfront fees attached to this loan such as a mortgage insurance premium of 1.75%, annual premium of 0.15%. and an extra 0.75% payable during the tenure of the loan. Add these up and it comes to a substantial amount.
Down Payment Assistance (DPA) Loans: Many cities and states in the country sanction low or zero-interest loans. The problem here is that you will have a house with minimal equity which you can hardly afford. It will not be easy to sell the house in the future.
15/30-Year Fixed-Rate Conventional Loan: These loans are amortized over 15 years or 30 years with fixed interest rates and monthly payments throughout the tenure of the loan. Your monthly payments for a 15-year loan will be higher than a 30-year loan but then, your mortgage will be cleared in half the time.
Now, which type of mortgage should you choose to buy property for sale in Vail, Colorado? While most of these mortgages have increasing interest rates and monthly payments during the tenure of the loan or several additional charges, the most stable with fixed interest rates and EMIs is the 15/30-year conventional loan. This should be your best bet.
Summing up, if you are buying a home for sale in Vail Colorado, get expert assistance from Just Living Realty. Our experts will guide you through the entire process.