As we get closer toward spring (it does come back around eventually!), dozens of Metro DC residents begin to contemplate buying a new home. In fact, spring is the time of year when the real estate market starts to really heat up and buyers descend upon local homes for sale!
However, if you’re a first-time buyer in DC, Bethesda, Chevy Chase, Northern Virginia, or the surrounding areas this year or are feeling overwhelmed by the process, don’t worry! It may be best to break it down into simple steps, so you too can take advantage of this exciting time.
You can count on The Estridge Group to clarify any questions you have about buying a home in the DC Metro and simplify the path to homeownership.
Below are five steps to get you started as a homebuyer:
Find an agent
Your first step on the path to homeownership should be finding an expert you can both trust and feel comfortable with. This is one of the biggest financial decisions you will make in your life, so don’t be too quick to choose just anyone.
Find a lender
One of the initial steps to buying a home is getting pre-approved for a mortgage and ultimately, applying for the loan. If you do not already have a lender in mind, your real estate agent is a wealth of resources! Ask them for a recommendation in order to find out how much home you can afford.
Groom your credit score
Start as early as you can on your buyer preparations as your credit score may need some time to clean up. Avoid taking out any additional lines of credit, be careful not to make late payments, and if possible, pay down your high interests debts first.
Make a wish list
Knowing what you need in a new home is key! However, be sure you can distinguish this from what you want. You may need to make compromises in your home search according to your budget, so know what you are willing to let go and what you absolutely have to have to fit your lifestyle.
Search for properties
Once you’ve met with a lender and have been pre-approved, you will know how much you can afford in a new home. Stay within those parameters to avoid falling in love with a home out of your budget, but now you can begin to search for your dream home!
Don’t know where to start, but want to buy a home in Bethesda, Chevy Chase, or the DC area? Give The Estridge Group a call today!