Quick Tips For A Successful House Hunt
Carefully craft your wish list and try to stick to it. If you are shopping with your partner, discuss your must-haves and deal breakers together so you’ll be on the same page during your house hunt.
Remember you are not only buying a house, but the neighborhood too. Spend time in the area to determine if it offers the lifestyle conveniences you’ll need.
Don’t see too many houses in one day. You may begin to feel overwhelmed and confused after touring several homes. Too many homes in a short period of time will run together in your mind and you won’t recall which kitchen or which master bedroom belonged to which house.
Stay within your price range and consider added expenses such as taxes, home owner’s association fees, maintenance etc.
Is It Better Right Now To Rent Or To Buy?
Generally speaking, buying is about 30% cheaper than renting in the DC metro area. While rates have increased from where they are in the recent past, they are still incredibly low by historical standards.
Find the Home that Speaks to You
Any algorithm can search for a 3 bedroom, 2 bath. But only a real estate agent can spot a kitchen fit for foodies, the open floor plan you covet, or that the den would be perfect for your home office. Your Long & Foster agent will also query colleagues and contacts for leads on potential homes that haven’t even been listed online yet.
Street Savvy on Home Values
Our network of professional agents share street-level knowledge of homes that have been sold, where, and for how much. Once you’ve fallen for a home, your agent will leverage that insight to develop a custom analysis of the property before you make an offer. You’ll be able to see what comparable homes have sold for, look at sales trends in the area, and get the numbers you need to make a competitive offer.
Our Network Is Your Network
While searching for your ideal home, your agent also rallies the Long & Foster family of mortgage, insurance, and settlement companies to help you land it. In many offices, agents work right alongside our trusted partners — the financial consultants of Prosperity Home Mortgage, the risk protection experts at Long & Foster Insurance and our home warranty providers, as well as the settlement pros at Long & Foster Settlement Services. Your agent will coordinate all the moving parts and make sure you’re ready for the big day.
Getting pre-approved by a mortgage lender is the first step in the home buying process. Feel free to contact me for some recommendations for top notch lenders in the area.
Escrow and Closing Costs
Often overlooked in the excitement of buying a home is the amount of closing costs needed to complete the transaction. While on any particular property we can get a closing cost and loan estimate from your lender, a good rule of thumb is that 3% of the purchase price is needed for closing costs in our market.
If buying a new home wasn’t stressful enough, try combining that with relocating to an entirely different state. Russell deals with a number of relocation every year and has honed the process. The best option is always to fly out and preview properties so you can see them in person, however that is not always possible. He has helped people buy site unseen, but when doing that he certainly suggests focusing on properties in excellent condition or new construction.
Ive been there. I remember the stress, the confusion, the lack of knowledge when I purchased my first home. Let me walk you through the process, help set your expectations and help you buy your first home. This does not need to be as scary as you think it is, you just need the right help in guidance in making the right choice.Download Our Buyers Guide