Patty DuHamel’s Complete Homebuying Guide for Reno and Sparks

Before delving into the numbers and nitty-gritty of the home-buying process, it’s important to find your purpose for the house hunt. Determine the benefits you want to gain from making the effort to seek a new home.

First, settle on the type of home you aspire to live in. Perhaps a magnificent Reno single-family home is where you’d like to build your life. Or maybe you’d rather huddle with nature in a gorgeous condominium in lovely Sparks. Further, the array of amenities may be the key that makes a house into a home for you. Think about which features you desire, such as the number of bedrooms and bathrooms your family needs, whether you prefer carpet or hardwood throughout, whether you’d like any smart home features, and much more. Determining which home style and features you’re pursuing will make the home-buying process much breezier, as you’ll be able to focus on homes that meet your criteria.

 

Before looking into specific homes, choosing your desired community lifestyle is essential. Whether you spend your days warm and cozy inside or mingling with neighbors outside, the neighborhood must be a good match. Consider the following communities when sifting through the Sparks and Reno real estate market to find your perfect new property.

Old Southwest is one of the most enchanting communities in the city. These vintage Reno single-family homes are perfect for outdoorsy home hunters who don’t want to be far from Reno’s thrilling nightlife. Surround your home with thriving foliage, and head down to the Rose Garden at Idlewild Park for inspiration. Residents are loyal to the Old Southwest community, holding it in their hearts.

Somersett is a posh, master-planned slice of the Reno real estate market. It’s newly built, which means the houses here are modern and extraordinary. These secluded havens provide a quiet and private lifestyle, yet they allow for connection with their proximity to the Somersett Golf & Country Club. The immaculate homes and flawless landscaping sit on wide-open lots. The brisk atmosphere next to the pond and golf course will rejuvenate any soul.

The Northwest section is yet another elegant example of Reno real estate. These premium homes are stylish and complement the captivating Sierra Nevada Mountains. Locals enjoy a modern lifestyle with unmatched desert views.

Sparks is considered adjacent to Reno, yet the boundaries are blurred. Most locals see it as a friendly part of Reno. The lifestyle in Sparks is vibrant. The town is proud of its heritage, lively arts and culture, active social life, and wealth of outdoor activities. Homes here match the refinement of Old Southwest, Somersett, and Northwest. Sparks is a fantastic place to live!

In the internet age, home seekers can sift through online listings, travel to hopeful locations in search of “for sale” signs, and even chat online with those familiar with the area. However, the best resource for finding Reno and Sparks luxury homes is working with a trusted local Realtor® who has expertise in the specific neighborhoods you’re considering.

After all, not every significant aspect of a town is on paper or a website homepage. An exceptional agent will take you from one home to the next to find the right fit, and they’ll have inside knowledge and experience in the area. Once you’ve discovered that majestic palace you just can’t live without, your agent will expertly guide you through the home-buying process in full. It’s essential to have this partner to make your real estate journey seamless.

 

While your instinct may be to maintain loyalty with a bank you’ve been connected with for many years, it’s crucial to shop around for mortgage lenders, just as you do for houses. Selecting one with the best interest rate and a solid reputation is vital. Inquire about how long their process takes, how many representatives will be involved, how long of an interest rate lock they recommend, and any other pertinent parts of the lending contract.

It’s also practical to have a backup lending company, just in case something falls through with the original loan. While buyers want to expect the best, at times, financing can fall through during underwriting, or banks can suddenly freeze their lending programs. Be thorough when choosing a lender and garnering a safety net, and you’ll be that much closer to your Reno or Sparks luxury home.

Once your prize is selected, it’s time to make the offer. Here again, your agent is your best ally. The Sparks and Reno luxury real estate markets are fierce, so you’ll likely contend with many competitors. Your agent can help you narrow down a realistic figure and devise a competitive offer.

It’s helpful that your agent acts as your mediator and professionally represents you during all negotiations. Your agent will advise you to factor in specific details when coming up with an offer, such as closing costs, commuting costs, repairs, or other necessary expenditures upon move-in. They also will explain that you can request contingencies, such as being able to keep designer furniture or combining the closing cost with the price of the home.

 

Once a mutual price for your new Sparks or Reno luxury home has been agreed upon, there are just a few laps left to the finish line. The first is to put down a good-faith deposit, which will be held in an escrow account. The seller will then take the house off the market and consider the home sold as long as no issues arise with the inspection or appraisal.

The appraisal process is an arduous but necessary phase of the home-buying process. Lending institutions want to know the genuine value of the home before holding a stake in it. It’s possible to retract your offer and deposit if the inspector finds some severe flaws. This doesn’t mean you have to give up on the house you’ve selected, though. This setback could work to your advantage if rolling the cost of repair work or bringing down the price tag ends up as part of the deal.

For an expanded discussion on the topics in this Sparks and Reno homebuying guide, contact Patty DuHamel of Coldwell Banker Select Real Estate. She’s the master when it comes to navigating the housing market in Reno and Sparks. Patty is eager to hear about your real estate dreams, so don’t hesitate to reach out to get started!