Important Things to Know Before Buying a Home

Are you going through all those anxiety pangs that one normally gets while mulling over the decision of buying a home? Homebuyers are an anxious lot, eager for useful real estate information. It pays to get yourself acquainted with the steps involved in the purchase of a home.

Here?s a list of important things to know before buying a home.

1. The first step is to find out how much you can afford or qualify for. Check your credit report to know your credit worthiness. Clear up problems if any before going to a lender. A good credit rating will result in you receiving lower interest rates.

2. Get pre-approved for a mortgage from a mortgage broker or lender, with a commitment to fund your mortgage in writing. Look out for frequent payment options and prepayment options, which would help knock off some years from your mortgage. And finally, settle for comfortable monthly payments. Once pre-approved for a loan, you will know your price range to begin shopping for real estate.

3. You should buy the real estate that is right for you. Make a wish list of all the specifications you want in your home. Prioritize them based on your wants and needs. Then mark out those aspects that you are willing to compromise on, in case you need to.

4. Get a good, reputable Real Estate Agent to assist you in locating a property in a desirable location. Your Real Estate Agent will know where to help you look for properties, while keeping your preferences and price range in mind.

5. Once your agent provides you with a list of properties that are affordable, you can drive by to check the neighborhood. Look for a house in a location that has good potential for future appreciation. Consider factors like safety, school districts, freeway access, recreational options, work commute time, shopping facilities etc.

6. Check out a sufficient amount of real estate until you develop a sense of comparative value of each neighborhood. Your real estate agent can help you with the valuation.Visiting the localities at different points in time during the day is ideal. This will help narrow down the list. You might want to check during the morning commute, or after dark to verify that the neighborhood suits you.

7. When you have found a house of your choice, compare its price with other houses in the area. Get your real estate agent to assess the value of the home.If all looks good, write an offer!

8. Lastly, consult your real estate agent to be sure that you obtain any professional inspections necessary to answer any questions you may have about the property.Some concerns may include: the condition of the roof, foundation, walls, plumbing, electrical, windows, etc.Other concerns may be: Is the property in a flood zone, or wildfire area.Is the property subject to Mello-Roos? Are there CC& Rs? Are there any easements on the property, etc.Your professional Real Estate Agent will assist you in answering these and other questions you may have prior to closing escrow on a property.

Posted by Rosemarie Johnson on December 13, 2008 at 12:00 AM

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Rosemarie Johnson is affliated with RE/MAX Allegiance, which is located in Alexandria, VA. For further assistance please use the contact information located on the right.

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Local Information for Alexandria, VA

Latitude: 38.816242 -- Longitude: -77.071282

ZIP Codes for Alexandria, Virginia	22301 22302 22303 22304 22305 22306 22307 22308 22309 22310 22311 22312 22313 22314 22315 22320 22321 22331 22332 22333 22334 22336
Area Code for Alexandria, Virginia	703
Time zone for Alexandria, Virginia	EST

Other Area Cities: Woodbridge, VA Manassas, VA West Springfield, VA Alexandria, VA Centreville, VA Annandale, VA Burke, VA Falls Church, VA Arlington, VA Bon Air, VA Engleside, VA Franconia, VA Lorton, VA Merrifield, VA Mantua, VA Springfield, VA

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Alexandria is an independent city in the Commonwealth of Virginia. As of the 2000 census, the city had a total population of 128,284. It is located on the west bank of the Potomac River, six miles south of downtown Washington, DC. Like the rest of Northern Virginia, as well as southern Maryland, modern Alexandria has been shaped by its proximity to the nation's capital. It is largely populated by professionals working in the federal civil service, the U.S. military, or for one of the many private companies which contract to provide services to the federal government. The latter are known locally as beltway bandits, after the Capital Beltway, an interstate highway that circles Washington, D.C. One of Alexandria's largest employers is the U.S. Department of Defense. Others include the Institute for Defense Analyses and the Center for Naval Analyses. -- Source: Wikipedia.com

Virginia 2000 Census Population Profile Map

	Alexandria	Virginia	United States
Population	128,283	7,078,515	281,421,906
Median age	34.4	35.7	35.3
Median age for Male	33.9	34.5	34
Median age for Female	34.9	36.8	36.5
Households	61,889	2,699,173	105,480,101
Household population	126,382	6,847,117	273,643,273
Average household size	2.04	2.54	2.59
Families	27,749	1,847,796	71,787,347
Average family size	2.87	3.04	3.14
Housing units	64,251	2,904,192	115,904,641
Occupied units	61,889	2,699,173	105,480,101
Vacant units	2,362	205,019	10,424,540

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Important Things to Know Before Buying a Home

Local Information for Alexandria, VA

Latitude: 38.816242 -- Longitude: -77.071282

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