Spring is just around the corner, and that’s the perfect time to start looking at what houses or horse farms are available in Virginia.
Essential Home Buying Preparation Tips
Maybe you have been exploring online listings, or maybe you are simply contemplating buying a home. Either way, there are a few very important steps that you need to take before you begin seriously searching for your dream home.
1. Save Up for a Down Payment
Down payments are often the major hurdle that make potential home buyers — especially Millennials and first-time home buyers — hesitate to buy a home. A good rule of thumb is to set aside 20% for your down payment, so as soon as you can start saving, the better.
2. Get Your Financial Information in Order
When you apply for a mortgage, the lender will take a look at your financial information, including your credit score, credit history, and debt-to-income ratio. Make sure you have great credit before you start to buy a home.
(If you believe your student loans are preventing you from being able to purchase a home, read our blog post about what financial elements matter during a home purchase and how you can purchase a home despite your student loans.)
3. Calculate How Much Home You Can Afford
Along with getting your finances in order, knowing how much you can actually afford for a home is crucial. After all, you don’t want to fall in love with a rustic country home that is thousands of dollars above your price range. Talk to reputable lenders about getting pre-approved to learn exactly what you can afford.
You can use our monthly mortgage payments calculator to determine how much room you have in your budget for loan payments, too.
If you are a first-time home buyer, we have information about mortgages in the Virginia countryside that can help you find which mortgage is right for you.
4. Make a List of Your Wants and Needs
Keep a list of what essential features you need in your home — which can include the number of bedrooms, a stable for the horses, or a vineyard for your business — and what features you would like to have. Knowing what you need and what you want can help you narrow down your home search.
There are often hundreds of listings available in the Virginia area, and narrowing down your home search can be daunting. You can start with searching through country homes and horse farms for sale in Virginia here, or exploring communities in Virginia’s countryside.
If you can envision your dream home but don’t know how to search for it in our advanced home search, just call us. We’ve helped other home buyers find their dream homes and can help you find the perfect country property that fits your needs.
5. Contact the Right Real Estate Team
Choosing the right real estate team means finding experienced, local, and knowledgeable agents who can save you time, stress, and money when buying a home. Having a resource to help you find the perfect home and advise you on the process will help you immensely.
Now is a great time to call for a consultation. We can help you get your financing in order, prepare a list of your needs and wants, and position you to move quickly and effectively when you find your dream home. Let’s talk — 703.966.9480.