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Mistake #1: Not Investing in a Home Today, purchasing the house you really want is easier than ever. Plenty of people who thought that finding the house they dreamed of was simply out of their reach are currently experiencing a brand new way of life in their very own house. Even though many many people are fearful because of the fiascos of recent years, in several ways this can be a better time to purchase a home than ever. With low mortgage rates, safer restrictions in place, and potential discounts from property foreclosures and short sales. When done right, purchasing a home is the wisest economic choice you'll ever make. In truth, the majority of Northern Virginia homeowners could well be financially shattered at retirement if it weren't for one saving grace - the equity in their house. Moreover, rates on mortgages are more accommodating these days than ever and tax allowances give preference to home ownership. With a small number of exceptions, housing valuations usually have increased steadily. Obviously there are peaks and valleys, but the long term the trend is a reliable increase. Which means that each month as you have a loan payment the amount that you owe on the property lowers and the value generally goes up. This scenario is referred to as "equity build-up" and is the key reason why you can't afford not to buy. Even if you have little cash for a down payment or credit difficulties, it's likely that you can still buy that new Manassas, VA home. It just relies on learning the right strategies, and working with the proper professionals. Mistake #2: Not working with a buyer's agent to represent you: Purchasing a home is a confusing and stressful task. In fact, it is usually the greatest single purchase you'll make in your lifetime. At the same time, real estate deals have become more and more intricate. New technologies, legislation, procedures and competition from other purchasers require Clifton Realtors to perform at an ever-increasing level of professionalism. For unrepresented home buyers, the process can become a, stressful ordeal. Additionally, making the wrong decisions can end up costing you a lot of money. Work with a buyer's agent with a keen knowledge of the local real estate market. Buyer's agents have a fiduciary duty to you. That means they are loyal to you alone and are obliged to look out for your interests. Buyer's agents can help you find the best house, the best lender and the best inspectors for your demands and circumstances. On top of that, generally, the buyer's agent is paid from the seller's commission, even though he/she works for you. Mistake #3: Not considering the resale valuation of your property when you buy it You're just wondering about shopping for your home and already we're talking about getting rid of it. That prospect probably hasn't even entered your thoughts. However, most people, especially in Northern Virginia, often move, upsize, and downsize and family and job situations change. The vast majority of residences in Fairfax, Loudoun, and Prince William Counties are built in neighborhoods by developers, so there aren't as many extremes and eccentricities as you could find in other areas. But as you consider potential homes based on your needs, you should also consider what other Northern Virginia buyers might want. The secret is to avoid extremes in both layout and furnishings, while still leaving room for your own individual expression. After all, this really is your house. Willetta Brodt is a professional blogger and business presenter on topics such as real estate and architecture. She lives in Burke with her spouse Hunter together with their Komondor, Ona.
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