As a first-time homebuyer, it may be best to focus on your “needs” versus your “wants.” Answer the questions below to figure out what’s most important on your house-hunting list:

1.     What part of town/the state do you want to live in?

If you don’t already have a place in mind, do your homework: Take the time to visit various areas to learn which ones resonate with you more, whether it’s because of great dining options or proximity to schools.

2.     What price range do you want to stay in?

It is generally recommended that you spend no more than 30 percent of your household’s net monthly income on your mortgage each month. To learn more about how much house you may afford, check out CHFA’s mortgage calculators.

3.     How long of a commute to work do you want each day?

In addition to visiting various areas (see #1 above), when you find a location you like, you may want to do some “practice commutes” to see if you are happy with the drive time.

4.     Do you want a new or older home?

There are pros and cons to each. Also, location is usually a factor; typically, older homes are found more often in urban areas, while newer homes are found in the suburbs.

5.     What style of home do you want (e.g., contemporary, traditional, southwestern)?

Each style offers its own unique benefits—learn about the most popular styles of homes in Colorado here.

6.     What type of home do you want (e.g., one-story, two-story, mobile home)?

From single-family homes to condos, understanding the different types of houses can help you determine what will work best for you. Learn about common house types here.

7.     How many bedrooms/bathrooms do you need?

Are you looking for a home that works for you right now or do you want something you can grow into? The number of people in the house, their ages and needs, and if you tend to have a lot of guests are factors that will help you decide how many bathrooms are optimal.

8.     How much land do you want to live on, and do you need a fenced yard?

Lawns can be beautiful but take time and money to manage; determine how important it is to have a lawn, and whether you prefer grass, xeriscape, or a mix of both. Also, if you have pets or small children, you may want to opt for a house with an existing fenced area.



9.     Do you want to live in a home governed by a homeowners association (HOA)?

HOAs mean different things to different people, and there are pros and cons to living in an HOA-run community. HOAs usually charge additional fees for their assistance, so consider this cost in addition to the home’s listed price.