With interest rates at their lowest, it’s time to start searching for your perfect new home.
Northern Virginia is one of the strongest and fastest-paced environments regarding real estate.
If you read articles related to the cost of renting vs buying, supply and demand in your area (absorption rates), mortgage interest rates at their lowest in the last eight years, and monthly rent payments rising each year, it leads many to conclude that buying is a no-brainer.
Keep in mind that residential properties typically go up in value and interest rates are typically predicted to increase each year. When this happens your buying power diminishes. Moreover, with so many financial products and programs geared towards helping homebuyers, chances are you can qualify for a home loan. That’s all good news!
So, the bottom line is, If you are seriously considering buying, chances are you are better off today than you may be tomorrow – so don’t wait! Investing in your future through homeownership could be one of the most important and rewarding decisions in your life.
This sounds all exciting, but let’s consider financing when it comes to deciding if buying is good for you right now.
There are programs that will allow you to put down as little as 3.5% for a down payment and perhaps even get 100% financing if you qualify. But do you have enough savings for closing costs? Do you have to pay Homeowners Association (HOA) and/or condo fees? How much are the utilities? Do you need to spend some more in furnishings? In other words, are you ready to commit to the financial long term responsibilities for at least 5-7 years?
Let’s find out! Getting pre-approved is the first step that will help us understand and provide a clear picture of your particular financial situation. You will then know how much you can afford and we can start looking for homes comfortably within your price range. Through our Buyers Consultation, I’ll get to know your wants and needs and we will target specific homes that fit your search criteria. I’ll guide, advise and walk you through all the required steps of the process. We’ll discuss strategies, deadlines, and expectations. You will be informed and prepared at all times, avoiding any last-minute surprises or roadblocks.
In the beginning, this all may sound a little overwhelming, but with the right direction, experience, latest tools & technology, and our exceptional customer service, you are guaranteed to aim and shoot right on target, relax sooner rather than later, and enjoy all the perks and benefits of homeownership (including the mortgage interest deduction at tax time, a huge savings!).
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