8 Things You Need To Know Before Buying a Home in the DC Metro Area (UPDATED FOR SUMMER 2018) Buying a home can make anyone a little nervous, especially if you’re a rst-time home buyer. It’s the biggest purchase of your life and between the unfamiliar lingo and the surprise expenses, the whole thing can feel complicated. To make this journey a little smoother for you, we’re sharing 8 need-to-know tips every rst-time homebuyer in DC, Maryland, and Virginia. Add some exibility into your nancial plan. Add some exibility into your nancial plan. You might not be used to hearing phrases like “budget” and “keep an open mind” in the same sentence, but hear us out. As a rst-time home buyer it might feel easier to simply stay inside your budget, end of story. But too many rst-time home buyers are quick to overlook homes that are only slightly above budget that come equipped with valuable upgrades. Don’t miss the chance to invest in a higher-quality home – and maybe only end up paying a little more each month. Think through the type of home that ts you best. Think through the type of home that ts you best. j s f b 9 SHARES SHARES Written by on May 31, 2018 in Tips & Advice 8 Things You Need To Know Before Buying a FOR SUMMER 2018) SEARCH Enter a Location or Keywor CONTACT US
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8 Things You Need To Know Before Buying a Home in the DC Metro Area(UPDATED FOR SUMMER 2018)
Buying a home can make anyone a little nervous, especially if you’re a rst-time home buyer. It’s the biggest purchase of your lifeand between the unfamiliar lingo and the surprise expenses, the whole thing can feel complicated.
To make this journey a little smoother for you, we’re sharing 8 need-to-know tips every rst-time homebuyer in DC, Maryland, andVirginia.
Add some exibility into your nancial plan.Add some exibility into your nancial plan.
You might not be used to hearing phrases like “budget” and “keep an open mind” in the same sentence, but hear us out.
As a rst-time home buyer it might feel easier to simply stay inside your budget, end of story. But too many rst-time home buyersare quick to overlook homes that are only slightly above budget that come equipped with valuable upgrades. Don’t miss thechance to invest in a higher-quality home – and maybe only end up paying a little more each month.
Think through the type of home that ts you best.Think through the type of home that ts you best.
j s f b 99SHARESSHARES
Written by on May 31, 2018 in Tips & Advice
8 T h i n g s Y o u N e e d T o K n o w B e f o r e B u y i n g a H o m e i n t h e D C M e t r o A r e a ( U P D A T E DF O R S U M M E R 2 0 1 8 )
A single-family home can be perfect if you need a large lot or tons of room. But are you open to trading o some extra space forless maintenance and more amenities? If you don’t mind paying a homeowners’ association fee, a condo or town home could alsobe a great t for you.
When you do say “no” to a great home, get clear on what’s really bugging you.When you do say “no” to a great home, get clear on what’s really bugging you.
Sure, it’s important to make a list of must-haves. Just remember that when a home doesn’t quite check every box but still haspotential, it still might be worth considering.
Ask yourself whether, for example, you really just can’t stand a home’s wood paneling, and that’s what’s holding you back fromthinking of it as a contender. Getting that paneling replaced once you’ve moved in might be easier than you think! Don’t say “no” toa home in your price range because of a minor aw that isn’t permanent.
Put time into carefully choosing your secret weapon: your real estate agent.Put time into carefully choosing your secret weapon: your real estate agent.
You’ll be turning to your real estate agent for nonstop advice, and you’ll be completely dependent on his or her expert insideknowledge of the industry. You’ll need someone who has your back and can explain each step along the way, so choose someonewith a great track record who can really add value to your rst-time home buying experience. Did you know the best agents outthere actually enjoy educating their clients? Hold out until you nd one!
Search for the right home inspector, too.Search for the right home inspector, too.
First-time buyers are more likely to purchase homes that need a little love in the form of repairs, or maybe some remodeling.You’ll need a skilled home inspector to give you an unbiased opinion of how much this deferred maintenance repair work (if any)the home will need and what it might cost to make it happen. You can also use this information to lower your bid on your potentialnew home.
Do your homework.Do your homework.
Your real estate agent is your guide through the process, but be sure you’re also doing your own research. Before you even meetwith the agent, get familiar with the basics so you understand the big picture. This might include how mortgages work, whatlenders looks for in applicants, etc.
Sure, living in or near a big city can sometimes mean a cozier space – but you’ll be gaining soSure, living in or near a big city can sometimes mean a cozier space – but you’ll be gaining somuch more.much more.
We know it’s not exactly breaking news: the greater DC area can get expensive. Everything from food to real estate can be pricedsigni cantly higher when you’re right around the corner from, or right in the middle of, one of the most powerful cities in theworld.
But there are plenty of advantages, too. You’ll be close to just about every kind of entertainment, great schools, shopping, everycuisine you can imagine, and more – every single day.
Don’t worry if the process takes longer than you thought.Don’t worry if the process takes longer than you thought.
It can be a big surprise for rst-time homebuyers that this process takes time! You don’t want to rush into such an important stepin life. Take a deep breath, be patient, and surround yourself with knowledgeable professionals who know their stu .
At the end of the day, you should love your home, so take your time to nd the one that’s got everything you need. When you’recoming home to a house that’s perfect for you, all the time and e ort you’ve put in will be absolutely worth it.
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