What Do I Need to Know About Buying My First Home in DC?
WASHINGTON DC REAL ESTATE 101!
Buying your first home is a thrilling experience. You could be getting ready to start a family, your career has taken an upswing and you're ready to put down roots, or you're simply ready to escape the renting rat race and be the king or queen of your very own castle. No matter what the motivation, purchasing your first DC home often means a new chapter of your life is beginning - and that's exciting, but how do you know if you're ready to enter the world of DC Real Estate? What should you know about buying your first house? How can you know when to buy a home? Here are the answers to a few questions you may be asking about how to start your new chapter off right!
DO I NEED PERFECT CREDIT TO BUY A HOME IN DC?
Unless you've got a lot of cash lying around (in which case, good for you!), you'll need to get a mortgage loan. The interest rate on this loan is often tied closely to your credit score. If your credit score isn't pretty, it means you'll be paying more interest over the years you spend in your new house.
If your score isn't where you want it to be, consider taking a few months to try and raise it. This can be done by paying off high balances on credit cards and sticking to a payment schedule. Find more information how to raise your credit score in this great article by Laura Adams.
WHY SHOULD I BUY A HOUSE IN DC?
Buying a home in DC, or looking to buy a home in VA, can be a very smart decision. Our nation's capitol and metro area has a wealth of beautiful, historic homes that sit right in the hub of political and cultural activity. This can be exciting, but also draining. Is there any chance work will take you permanently out of the area in the next few years? Make sure you're ready to commit before you buy.
WHY SHOULD I WORK WITH A REALTOR?
No matter how prepared with research you may be, nothing can replace a Realtor's expertise. An experienced realtor will have specific market insight that can't be found on Google, and they'll help keep things in perspective as surprises arise. Doing legwork on your own can be great, but joining forces with an experienced Realtor can help make your first DC dream home a reality!
The Youngling Real Estate Team | Monica Youngling, Realtor®
Serving Washington DC and Northern Virginia
Cell: (202) 213-9330 | Office: (202) 608-1880 ext.167
Berkshire Hathaway Home Services PenFed Realty, 216 7th St., SE, WDC 20003 & 13555 Wellington Ctr. Circle, Ste. 107, Gainesville, VA 20155
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing.