Buyers

Buying a home is always a momentous occasion in everybody’s life, that’s why it’s important to make sure you’re ready financially and emotionally.

Washington DC Metropoitan Area – Buyers

Here are some tips to help you nail your real estate purchase in Washington, D.C.

1. Determine where you are ready to buy a home. Are conditions ripe for you to purchase a home, especially in Washington D.C.? If the answer is yes, then you most definitely should. Consider factors such as current market conditions, your financial capacity, and your long-term plans to help you determine whether you should buy or rent.

2. Get a mortgage. Regardless of whether you can pay for your purchase in cash or otherwise, getting pre-approved for a mortgage helps you look good in the eyes of the seller. Shop for a loan program that suits your financial capacity and don’t be afraid to ask qualified loan officers any questions you have.

3. Hire a real estate agent. Buying a home is perfectly doable all by yourself, but if you want a comparatively stress-free transaction, getting a buyer’s agent in your team is the best way to go. Ask family and friends for referrals, and screen your prospects properly. A good agent will represent you and act according to your best interests. He or she should also have expertise on the local real estate.

4. What type of home suits your needs? Are you looking for a single-family home, a modern condo located smack dab in the middle of the city, or a nice row house in one of D.C.’s trendier neighborhoods? Consider your homeownership goals to decide which type of property works with your needs and lifestyle best. While you’re at it, make a list of specific features you need your home to have.

5. Stick to your budget. It’s important to determine just how much home you can afford before you actually go look for property prospects. Knowing how much home you can afford will help you in your mortgage application and helps keep things in perspective.
   

Washington, D.C. is an exciting place to invest in residential real estate. To know more about the latest properties in the market as well as the home-buying process, don’t hesitate to contact me at andy@lnf.com or (410) 371-0581.

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