Start your homebuying budget with a comfortable payment, not a townwide price. I want your search to reflect what you can afford without sacrificing the features that matter to you.
For Parker's single-family homes, condos, townhouses and apartments, the latest market report lists a typical sale price of $650,000. The typical asking price among homes listed for sale was $680,000 for that same residential scope. These prices describe completed sales and listed homes, respectively, rather than a required budget for your purchase. Asking prices and sale prices describe different groups, so their difference does not establish a discount you can expect.
Your lender's payment estimate should guide the search before you use local prices to choose homes to visit. I would separate essential property features from preferences so that a lower price does not disguise an unsuitable home. Leave room in your planning for ownership expenses rather than treating the purchase price as the entire financial decision.
Ask a lender to explain the payment, money needed at closing and assumptions behind the estimate. Write down your must-have features and identify which preferences you could change without compromising daily use. Review recent sales of similar homes with me before deciding whether a specific asking price fits your budget.
