Buyers Tips

Tips for Buying Vermont Real Estate

Be sure to consider the following tips and “words of wisdom” when buying your new property…

1) Where Do You Want to Live?

Vermont is a beautiful state and there are so many desirable places to live. Be sure to think about the following when choosing what areas to focus your home search:

  • How far are you willing to commute for work?
  • Do you want to be near family and friends?
  • Do you want to be near the mountains to hike, ski or snowboard?
  • Would you rather be close to Lake Champlain or another body of water for swimming, fishing or boating?
  • Do you like to garden? If so, consider the length of the gardening seasons living in the mountains vs. the valley.
  • Do you want quiet and privacy or would you rather live within a community with neighbors nearby?
  • Do you need to be close to shopping and entertainment?
  • How close do you want/need to be near emergency services?

2) What Type of Home or Size Lot Do You Want to Purchase?

Some people prefer one level living while others enjoy the privacy different floors/spaces provide. Some prefer to have a large parcel of land to ensure their privacy while others want to be part of a tight-knit community where you can enjoy your neighbors. Which is right for you?

3) Do You Know How Much You Can Afford?

You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to get pre-qualified for a mortgage so you know exactly how much a financial institution would be willing to lend you.

In the pre-qualification process, you will find out:

  • Exactly how much home or land can you afford
  • How much does the bank feel you can afford for a monthly payment
  • How much cash will you need for the down payment
  • What the minimum down payment is and advantages of higher down payments
  • What financing programs are available
  • How much cash you will need for closing costs including property transfer tax (In VT, it is the responsibility of the buyer!)

4) Are you willing to take on a “fixer upper” or do you want a home that is move-in ready?

“Fixer Uppers” = more $$ out of pocket after the closing table. Are you ready for both the financial challenge and physical challenge? Or, would you rather just move right in to a home that is already aesthetically pleasing with a desirable layout?

Be sure to consider the pros and cons of these 2 options as you don’t want to give up your dream home in fear of a little saw dust!

For some other helpful hints for buying your new home, be sure to review the Homebuyer Basics from