Being a first-time home buyer in Reston can feel like a tall order. You understand that the market is competitive and that many homes sell quickly. You aren’t totally sure where to begin the process or what elements are most important. Thankfully this isn’t a task that you have to take on without help. Learn more about what helpful resources and tools are available before you get started.
Find a good real estate agent
One of the key individuals you’ll work with during the process of shopping for a new home is your real estate agent. Working with an agent as a buyer provides several key benefits. You’ll have access to the MLS, or Multiple Listing System. This is an online tool that connects buyers with potential homes. Only licensed real estate agents have access to the MLS, and most MLS listings provide more information than what you’ll find on a typical online home listing. It also updates in real-time, so you’ll instantly become aware of new homes as they come onto the market.
Set yourself apart
Don’t put down 20% unless it makes sense
Be prepared to pay property taxes
Each year, homeowners are required to pay property taxes on their home. The good news is that you won’t be responsible for taxes during the entire year when you purchase your home. You’ll only have to pay taxes for the time when you owned the home. There’s a chance that the seller has already paid taxes for the entire year at the time when you purchased the home. In this case, you will have to reimburse the seller for any taxes paid during the time when you’ll occupy the property. This is something a real estate agent can assist you in determining.
Check out available loans and homebuyer assistance programs
Complete a Homebuyer Education Course
Discover more tips for becoming a Reston homeowner
If you’re looking for ways to save money when purchasing a home, you may want to think about how you can raise your credit score. This will improve the loan offers that you receive from lenders. You likely can’t do anything to raise your credit score by hundreds of points overnight, but you can take small steps to see gradual improvement over time. You can also save yourself thousands of dollars by putting more money down in your down payment when you initially purchase your home. This will limit the amount of interest that will accrue over time as you’re making your mortgage payments.
You can also cut costs by hiring an expert realtor who will help you negotiate a better deal when making a purchase. The Choose Wisely Group would love to help anyone who is a first-time home buyer in Reston. They understand many of the errors that first-time home buyers often make, and they are committed to helping each of their clients avoid these pitfalls and slip-ups. They find great joy in helping each of their clients find their dream Reston home for the best possible price. Reach out to their team when you’re ready to get the process started.