Northern VA Home Buyers – Can You Afford the Home You Want?

Whether you are buying a home out of choice or necessity there are several questions you must ask yourself before proceeding further in your new home buying venture in Northern VA. The first few questions asked will require specific answers that will define your search. What are the new homes must have features for the new home you are buying? What style of home do you prefer, what are the numbers of beds, baths, the appointed features, and location?  All of the above questions are all critical to answer. The next question is how much will the new home cost, and do you think you can afford it?  What about the costs of appliances and furnishings?  This is a very in depth question because not only does it deal with the cost to acquire the home, heat it, cool it, pay the taxes, and close on it, but also includes the long term payments, and maintenance of that property, and actually living in the home. This is where fantasy of owning and the reality of owning a home part ways.  The next question is do you qualify to buy that home?  Do you have either the cash to buy it outright, the income to qualify and get a loan, the required down payment, and the funds necessary for closing the home?  Lenders are much stricter today than just a few years ago so you will need a decent credit score, a source of funds, and / or a demonstrated verifiable income.  Not to worry, sometimes there are programs out there that can make the home buying process very affordable even over the long term. A lower down payment, and some seller assistance or paid closing costs will help you greatly.  For more information, feel free to contact us to be your Northern VA new homes buyers agents.