First-time buyer guide
Buying your first home in Denver or BoulderBrett Gilbert, real estate agent at milehimodern
How buying a home works, step by step
Buying your first home in Denver or Boulder comes down to eight steps, from a first conversation with Brett to getting your keys. Buyers can find their home in just a few weeks from the start of their search, but we will plan the search around your timeline and goals. Once you're under contract, closing usually takes 21 to 30 days.
If you've owned a home before but not in Colorado, the same steps apply.
The steps
Step 01
First conversation
You and Brett talk through your budget, your timeline, the neighborhoods you're considering, and what's behind the move. It's a short call, or coffee if you're nearby. Call, text, or send a note through the site.
Timing: 15 to 30 minutes
Step 02
Pre-approval
A lender reviews your income, savings, debts, and credit, then states in writing how much it will lend. An online rate quote isn't a pre-approval. Sellers want to see the letter with your offer. Brett can introduce you to lenders he trusts, and you can use any lender you like.
Timing: As little as two days once the lender has your documents
Step 03
Buyer agreement
Before touring homes, you sign a written agreement with Brett. It sets out what he does for you and how he's paid. He goes through it with you before you sign.
Timing: Before the first tour
Step 04
Touring homes
Brett sees in person every home you want to see. If you aren't sure what you want yet, you start with exploration days: tours of homes in several neighborhoods so you can compare them.
Timing: A few weeks, planned around your timeline
Step 05
Making an offer
Once you've found the right home, an offer can come together quickly. Brett gives you his opinion of the home's value from recent sales of similar homes, and you work out an offer strategy together. That covers the price and the other terms, which can matter as much: earnest money, the inspection and appraisal deadlines, and the closing date.
Timing: The seller usually responds within 24 hours
Step 06
Inspection
Brett helps you book the inspection as soon as you're under contract. A licensed inspector goes through the house and writes up what they find. Based on the report, you can ask the seller to fix items or adjust the price before the deadline in your contract.
Timing: Usually within the first 12 days under contract
Step 07
Appraisal
After the inspection, your lender orders the appraisal, and you pay for it. The appraiser confirms the home is worth what you agreed to pay. If it comes in low, Brett walks you through your options and negotiates for you before the appraisal deadline.
Timing: Usually 12 to 17 days into the contract
Step 08
Closing
You do a final walkthrough and sign at the title company. Then you get the keys.
Timing: 21 to 30 days after the contract is signed
What working with Brett looks like
Brett starts with your goals for a first home and a budget you're comfortable with. Before real estate he worked in customer success and sales in the tech industry, and he has a degree in finance and entrepreneurship. He runs the numbers with you: down payment strategy, the full monthly payment, refinance timing, and what else your savings could be doing.
He replies within a few hours on business days, by call, text, email, or the contact form, whichever you prefer. He walks you through every contract before you sign it.
First-time buyer questions
Do I need 20% down to buy a home in Denver or Boulder?
No. Many loans allow 3% to 5% down, and FHA loans allow 3.5%. CHFA and metroDPA offer down payment help to buyers who qualify. Putting less down means a higher monthly payment and, usually, mortgage insurance.
How much money do I need saved?
Plan for the down payment plus closing costs. In Colorado, buyer closing costs usually run 2% to 5% of the purchase price. On a $500,000 home with 5% down, that's $25,000 for the down payment and about $10,000 to $25,000 in closing costs. The price, the location, your loan type, and your lender's fees all move that number, and sellers sometimes agree to cover part of it. Keep some savings left over after closing.
What's in my monthly payment besides the loan?
Property taxes, homeowners insurance, mortgage insurance if you put less than 20% down, and HOA dues if the home has them.
How long does it take to buy a home?
Buyers can find their home in just a few weeks from the start of their search, but we will plan the search around your timeline and goals. Once you're under contract, closing usually takes 21 to 30 days.
Why do I sign a buyer agreement before touring homes?
Since August 2024, buyers sign a written agreement with their agent before touring. It spells out what the agent does for you and how the agent is paid. Brett goes through it with you before you sign.
Who pays the buyer's agent in Colorado?
In most Colorado sales, the seller still pays it. Since August 2024, buyers sign a written agreement with their agent before touring homes, and that agreement states the agent's fee. The amount the seller will pay goes into your offer. If the seller covers less than your agreement says, you would owe the difference or negotiate it, and Brett walks through that with you before you make an offer. The fee is negotiable, and Brett explains his before you sign anything.
Does Brett get paid for recommending a lender?
No. Brett introduces buyers to lenders he trusts and receives nothing from them. You can use any lender you choose.
Should I buy now or wait?
Start with your plans and your budget. Buying tends to make sense when you expect to stay a few years and the monthly payment leaves room for savings and everything else. Brett runs through your savings, your rent, the full payment, and how long you plan to stay. If waiting is the better call, he'll tell you, and he'll help you plan for when you're ready.
Can I buy in Denver or Boulder from out of state?
Yes. Brett sees homes in person for you and sends video tours. He also helps you plan your visits. Moving to Denver or Boulder
Guides on down payment help, what you need saved, and more.
Work with Brett
Start your home search today. Reach out, and Brett will reply within a few hours on business days.
Call or text 786.301.6015
Contact Brett