If you are getting ready to buy in spring 2020 you are not alone. Spring is the hottest season of the year for homebuyers and sellers alike. To get ready to go when that perfect home is listed you need to start preparing now.
You should start by thinking about these 4 things:
- What areas and neighborhoods would work for you?
- What are your school needs (if any) ?
- How will you pay for the home?
- Who should guide you through the process?
When thinking about neighborhoods you may already have certain areas in mind. Northern Virginia has a great variety of homes and locations. Traffic and work locations, in addition to the cost, are usually the main deciding factors when selecting a location. For example $500,000 may get you a new single family in Aldie, an older townhome in Tysons or a 2 bedroom condo in Rosslyn. If you work in Vienna, your choice of location and home will depend on your plans and whether you have pets, a spouse and/or children. If you are considering Tysons Corner, we have a great site at http://tysonsliving.com that may help you narrow down the choices.
If you have children or plan to have children, the type of neighborhood and school district is likely to matter. Your children may have a radically different childhood depending on what area you choose to live in. While all schools in Northern Virginia will provide your children with a great education home prices will vary radically depending on what school district a home is in. If you plan to put your child in a private school, paying $100,000 extra for a home and more real estate taxes for the next 10 years may not be worth it.
The type of financing you choose will impact your financial flexibility and options for years to come. Will you purchase with a 20% down payment and have lower monthly payments? Why may the FHA loan with a 3.5% down payment not be the best option? Are your eligible for a VA loan with 0% down and does it always make sense? Is a fixed or variable rate mortgage the best fit for you? Why could a 15 year loan be a bad idea?
As you can see, there are a lot of things to consider. Every transaction is different with every person coming from different backgrounds and have different goals with their homeownership. Our team has the experience and knowledge to consult, coach and guide you through the process and help you make a wise and informed decision. Making the right decisions now will provide you with a great home and investment for years and years to come. Send us an email today and let’s get started!