Buying Your First Home: What to Expect
As a new buyer looking at Virginia houses, I am certain you’re very excited, and you should be; this is something most everyone dreams of! The homes in Northern Virginia are not only beautiful, but the location itself is phenomenal. Being so excited, you may accidently overlook certain things. As a first time home buyer you should have a heads up on what to expect from the home buying process. That is what we are here to discuss.
First of all, there are three vital steps to reach before your new home search. These steps are locating the best lender, figuring out how much you can afford and getting pre-qualified for a mortgage loan, and finally, figuring out the priorities of a new home (AKA the features that are deal breakers).
Since you are a home buying newbie, your best bet is using an RE agent to help you through every step of the process. You want to work with an agent that is only focused on your best interests. Try to avoid duel agents as these are agents that work for both you and the home sellers. You want someone that is 100% on your side so you get the best deal.
Once you find a home that you would like to put in an offer on, be ready for the negotiation process. Rarely does the asking price end up being what you will pay since everyone is typically willing to negotiate. Once you come to an agreement it is time for an inspection. After the inspection, if issues with the house are found, you may want the consider renegotiating the contract to cover the extra repair costs. Remember, until the final paperwork is signed, you can still back out if you aren’t pleased with the deal.
READ What You Can Buy With $150,000 in Today’s Northern Virginia Real Estate Market
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Once all the details are ironed out you sign the paperwork and the home is yours! Be sure to follow all the advice from your agent and be certain that you are ready to make the deal without reservations.