Category: Tips on buying a home
Happy New Year from Mancos!Happy New Year from Mancos!
Happy New Year! What a busy fall! Lot’s of buyer even though interest rates for a 30 year conventional loan hovered around 7%. When I bought my first home the interest rates was 10%. Fall in love with the home not the interest rate. You can always refinance. Bad Credit? There are always some homes on the market that offer owner financing with very little down. If you plan to stay in the area more than 2 years definitely buy and not rent. The fall also brought some huge challenges for me with family and health, so I am happy that is in the past.
In December we hosted a community Christmas Dinner and we had 49 people! Long ago, Mancos always had one but it stopped so I felt that tradition should be brought back. Downtown Mancos is changing! The Mancos Commons building next to my office will be done this Spring and have 3 rentals plus a workshop. Raven House, the art gallery after 15 years is closing up shop due to rent being raised. The Absolute Bakery changed ownership and is now closed for 2 months for remodeling! I got a new stamped concrete sidewalk in December and love it! Stop by if you are in town- 145 W. Grand Ave.
We had very little snow in December and I am happy to say that it finally snowed this am!
Got kids and thinking of moving to Mancos Colorado? How are the schools?Got kids and thinking of moving to Mancos Colorado? How are the schools?
Nestled in the picturesque landscapes of Colorado, Mancos boasts a school system that offers more than just education—it provides a gateway to growth, community, and a promising future. Here’s why Mancos schools stand out:
1. Academic Excellence:
- Mancos schools prioritize academic achievement with a dedicated teaching staff committed to student success.
- Small class sizes enable personalized attention, fostering better learning experiences.
2. Holistic Learning:
- The curriculum goes beyond textbooks, emphasizing real-world applications and critical thinking.
- Students engage in experiential learning, outdoor education, and projects that ignite their creativity.
3. Supportive Community:
- Mancos is a close-knit community where educators, parents, and local businesses collaborate to nurture students. Last year I was a mentor for a high school entrepreneur class that got kids thinking and gave them 6 college credits.
- Strong community involvement translates to a well-rounded education that extends beyond the classroom.
4. Cultural Enrichment:
- Mancos values diversity and offers programs that celebrate different cultures and backgrounds.
- Cultural awareness is integrated into the curriculum, broadening students’ global perspectives.
5. Technology Integration:
- Mancos schools embrace technology as a tool for learning, equipping students with essential digital skills.
- Interactive classrooms and tech resources prepare students for a tech-driven world.
6. Extracurricular Opportunities:
- Mancos believes in the importance of a balanced education and offers a wide range of extracurricular activities. The whole town (almost) comes to the football and basketball games!
- Sports, arts, clubs, and organizations allow students to pursue their passions beyond academics.
7. College and Career Readiness:
- Mancos schools prepare students for higher education whether that is college or trade schoos and future careers through counseling and guidance programs.
- Partnerships with local businesses create internship opportunities, bridging the gap between education and industry.
In Mancos, education goes beyond the classroom walls. It’s about nurturing well-rounded individuals who are prepared to take on challenges, contribute to society, and lead meaningful lives. The schools of Mancos, Colorado, stand as beacons of opportunity, enriching the lives of students and the community they serve.
What a crazy Winter and Spring has sprung!What a crazy Winter and Spring has sprung!
Yowza, we got 194% more moisture this year than average. It was a long winter and nice weather has finally arrived! Last week we hit 62 degrees and it caused the snow to melt quickly. Here in town it’s all gone, at my home only 3 miles north there are a few piles on the north of buildings but only 6 miles north of town, Summit Lake is still frozen over and there is a lot of snow!! I’ve lived in Mancos for 32 years and have never seen a winter like this before. My red signed road flooded over Mud Creek. A red signed road means the county does not maintain the road. What a disaster! Cars were stranded on either side. Since being able to get emergency vehicles over Mud Creek, my son James and I plus a few friends fixed the road. What a chore. Several ponds up north are at capacity and we shall see if there dams break if our road holds. We are expecting a few colder days this week in the high 40’s which is welcomed since it will slow down the snow melt. There is also flooding around Dolores as well. Click here to see my road! So if you are buying a home on a red signed road, make sure there is a road agreement with the neighbors.
Should you rent or buy?Should you rent or buy?
Homeownership is often said to be the better choice when compared to renting. However for certain people, this isn’t always true. Here are 6 types of people that are better off renting than owning a home.
- People with high credit card debt. If you have trouble doing things like saving for a vacation or paying for a car repair, these are signs that you are not ready for home ownership yet. If something super expensive happened related to your home, how would you afford to pay for it?
- You prefer to have predictability in your monthly expenses. You can’t always plan for things that come up suddenly such as a leaky roof or emergency plumbing repair. Renting a home guarantees a fixed expense each month. You don’t have to budget for emergency repairs, increased HOA fees, property taxes, home insurance, etc.
- You don’t have an emergency savings fund. An emergency savings fund is typically 3 to 6 months worth of living expenses. If you don’t have this kind of savings account yet, you may not be financially ready to buy a home.
- You love living in big cities. If you prefer living in a big city, you shouldn’t sacrifice that to live in a suburb you don’t like. Rent is usually cheaper than buying a home with a million dollar mortgage in the same area.
- You see homeownership as controlling. Most people choose to buy a home so they can make changes such as paint color, adding additions, and having a sense of control to do what they want with their space. However most of these things require approval and permits. And if you live in a HOA you can’t just paint the door red, there are rules you must follow.
- You’re buying a home to increase your net worth. It can seem appealing to buy a home to build equity and increase your net worth. A mortgage amortization schedule shows how much of your mortgage payments go towards the principal balance versus the interest paid to the lender. If you are paying $3,000 a month, maybe $300 of that is going towards the principal, which goes towards equity. The other $2,700 is going to interest at the bank, the bank basically owns the house more than you do. However if you can buy a home and rent out part of it, which would help pay the mortgage that would be sweet!
How do interest rates affect my home purchase?How do interest rates affect my home purchase?
