Buying a home in Washington, DC? There are a few things you should know before beginning the process of buying a home in Washington, DC. As with a home purchase anywhere, you need to know how much home you can afford to purchase. If you have not had a conversation with a mortgage lender, now is the time to do so.
The mortgage lender will evaluate your financial situation. Your credit score will be pulled and analyzed. Your credit report will be reviewed. Your employment, salary records and available cash on hand will be part of the mix as well. Lenders have specific guidelines to follow when determining how much money you can borrow. When buying a home in Washington, DC the lender’s decision is just one piece in the puzzle. While it is important, it is only a guideline for you. You have to decide how much money you are comfortable spending for housing on a monthly basis. It is quite possible that your lender will be ready to offer you a loan that is more expensive each month than you are prepared to pay. You don’t have to take out a loan for the lender’s maximum.
A word of advice when tallying up your monthly housing costs. Be sure to factor in the amount you will have to pay for insurance, taxes, home owner’s association and/ or condo fees. Buying a home in Washington, DC may seem challenging, but I have helped many homeowners and I would love to help you.
Once you have a clear understanding of how much money you can spend on a new home, it is time to sit down and determine what type of home you want. When buying a home in Washington, DC, you have many choices. Your choices will be narrowed down by a combination of your “ must have list “and your “wish list”.
The “must have” list will include the things that you deem absolutely necessary in your new home. This list begins with the number of bedrooms and bathroom in the home. It may also include parking, distance from public transportation, a certain school district, the type of home (condo, town home or single family detached), a first floor bedroom and anything else that you “must have” in your new home.
The “wish list” may include just about anything your heart desires. Some people would prefer a brand new home while others really would like to have that “man cave” possibility. You are buying a home in Washington, DC. Let your imagination be free to dream.
The next step in buying a home in Washington, DC is to select a real estate agent. The agent does not have to be the first one you meet, nor do you have to interview several. Choose an agent that is experienced and gives you a comfort level that they are more concerned with helping you than earning a commission on a sale. Of course the agent will earn a commission, but that should occur because you’re needs are being fulfilled and not because they happen to be the one that writes your offer.
The agent you select should be familiar with the steps that must be taken when you are buying a home in Washington, DC. They should always listen first and continue to streamline your search as your desires come into greater focus. They should be able to communicate with you in a timely fashion using whatever means you are most comfortable. Today, that might include texting, email or phone calls.
The agent has to be accessible for you. This is the one person that will be involved with every facet of your purchase. Agents have to fill the role of dream weaver, hand holder, reality checker and negotiator. When buying a home in Washington, DC the agent is your key player. Choose wisely.
Once you have found the home you wish to purchase, the process of making it yours begins. An offer must be prepared and submitted. The final terms of your contract to purchase must be negotiated. Once you have an offer and acceptance, the road to settlement is undertaken. Clearing the conditions of your contract will begin. Buying a home in Washington, DC may include an appraisal, a home inspection, a termite inspection or a survey to name a few items that must be dealt with before settlement can take place. Your agent will play a large role in coordinating each of these steps. There is no substitute for experience here. A smooth transaction is not always possible, but your agent has to know the lay of the land and what steps are necessary to guide you home.
Buying a home in Washington, DC may not be as easy as ordering dinner or planning a vacation. It can be the next step you take in your personal journey to fulfillment. If the time is right and you are in position to make the move, buying a home in Washington, DC can easily become a reality. No essay can answer every question. No short article can put you at ease. Most people prefer a little give and take in the form of a conversation. Blogs don’t reveal body language or tone. I know that buying a home in Washington, DC may seem challenging. I would welcome the opportunity to discuss your dreams with you. You can call me at 301-509-5111 or text me at the same number. I will make the time to sit down with you at your convenience a priority. Take the next step in making your dreams come true.
If you are just beginning the process of buying a home in Washington, DC and just want to see what might be available, click on this highlighted link and search the available listings from the comfort of your computer …HOME SEARCH NOW