How long does it take to find a Colorado house hack?

Question

Hey everyone, I'm fairly new to all of this so I'm looking for some advice. My 60 day notice for my apartment is a few days away and I'm wondering if I submit the notice to move out, is that enough time to find/close/move into a house hack? I have been budgeting and saving but I don't have an agent so it's been difficult to find listings. I'm mainly looking in the Denver area but am open to expanding to The Springs, Fort Collins, etc. TIA!

Dan Guenther · Answer

Hey @Brandon C. -  It's great that you're planning ahead and saving for your first house hack. Submitting your 60-day notice should give you enough time to find and close on a property, but it will be tight. Here are a few tips to help you consider:

Get Pre-Approved: If you haven't already, get pre-approved for a mortgage. This will give you a clear idea of your budget and make your offers more competitive.

Work with an Agent: Consider finding a real estate agent who specializes in the areas you're interested in. They can help you find listings faster and navigate the buying and after closing setup process. You'll also get access to off market deals that typically have less competition.

Expand Your Search: Denver is competitive, so looking in areas like The Springs and Fort Collins can give you more options.

Stay Flexible: Be prepared to move quickly when you find a property that fits your criteria. Having a flexible schedule can help you view properties and submit offers promptly, especially with your time crunch situation.

Good luck with your search and feel free to reach out if you need more advice or assistance!

Matt M. · Answer

Not difficult. Inventory is up, and there are deals out there. However you'll need an agent to assist with the transaction. You need to get pre-approved with a lender as well.

Eric DeNardo · Answer

@Brandon C.,

It should be enough time if you have the right team to get you set to purchase a home and find the right property to house hack. Being flexible on the location and the income strategy you want to use will help make that process quicker. I'll DM you and we can talk more.

Mya Toohey · Answer

I work with first timers that are house hacking.  I am in the Tampa Florida area and we are finally seeing more properties come on MLS.  You do need and agent to help with the property and guide you through the process.  It sounds like in your market it won't be hard to find a property.  Remember, you are buying on ROI not LOVE of the house.  You will only be in it a year or two and you know that.

Jerrod Rosen · Answer

Hi Brandon! Feel free to reach out if you have any questions on the market in Denver, lots of great options!

Tanner Pile · Answer

@Brandon C.

60 days is a good amount of time to find a house hack. You'll first want to nail down the property type and strategy you want to implement then start making offers where it makes sense!

Koren Lavi · Answer

@Brandon C.

Totally do-able.

Find a good lender/loan officer. The LO I use for my investments can have you pre-approved same day if you submit all the necessary documents (pay stubs/W2, credit report, loan application, bank statements). If you have a clean file my LO can close 10-14 days after going under contract.

Data for July indicates that we are seeing increased days on market, increased active listings, and will likely see increased new listings, so your agent should be able to find a solid house hack option in the Denver area within 2-4 weeks.

I would say 30 days is the quickest you could make it happen. 60 days would be a lot more comfortable, and less hectic of a process.

James Carlson · Answer

It depends on how selective you are and your budget. I find house-hack options Denver and Colorado Springs every week. But are they the right house for all pir clients? Not always. And what you qualify for will dictate a lot of your search as well.

The path forward is pretty simple. Find an agent you vibe with, get pre-approved with a local lender and start seeing homes.

And congrats on taking a big step. Its one of the best financiala decisions youll ever make. Cheers!

Brandon Elliott-Pandey · Answer

How exciting! Good on you for being diligent and making this happen in the first place! I sent you a private message and would love to assist you here in your house hacking search.I am very familiar with all three of those markets and feel confident I could assist you in finding a great opportunity in the next 60 days! Looking forward to connecting!

How long does it take to find a Colorado house hack?

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