5 Things I Would Do if I Wanted to Buy a House

If I were talking to my friend who was apprehensive about making a move, these are the five steps I would tell her to take.

1. Reach Out Early. One reason people are afraid of buying a house is the fear of the unknown. Take that first step and reach out early: to your lender, your Realtor, your banker, your stakeholders (anyone else who is going to be a decision-maker in your home purchase). You may think you're not ready yet, but you won't know until you find out. And--you may be pleasently surprised! You could be further ahead and more prepared than you think you are--yay!

2. Don't Be Afraid to Look at Your Numbers. Similar to the first step, people can be afraid to look at their numbers for fear of disappointment, helplessness, etc. You won't know until you look, so just rip the bandaid off and see what your finances look like. How much debt do you have? How much income do you have coming in? Do you have any emergency savings or savings already for a downpayment?

3. Find People You Trust to Help You (Realtor, Lender, Builder). These people will be handling a large life transaction for you. Make sure you feel comfortable asking questoins and communicating with them so that you understand the process. This is where I come in as your Realtor! With my background in education, I will make sure you are clear on what is going on the entire time. If you need a recommendation for a lender or a builder, a Realtor should usually be able to offer you several options, so that you can speak with different individuals, compare rates, etc.

   

4. Imagine Your Ideal Life (Create Your Wants/Needs/Non-Negotiables List). Taking into account your desired lifestyle and circumtances (working from home, having a family, kids, proximity to schools, commute time, fenced-in yard for animals), make a list of things you would like, things you absolutely need, and things you absolutely will not accept. For some people, it's location. They will live anywhere in Loudoun County except one city, or they commute to DC everyday so need to be near the Metro. Whatever it is, know what you're looking for so you can communicate with your Realtor and make your search more precise and efficient.

5. Start Early (Packing, Paperwork, Prepare for Unforseen Cirumstances). One of my favorite tips is to start packing early. If your plan is to move, then you will need to pack at some point, so you may as well get started early. This has a second benefit if you also need to sell the home you're currently living in, because it makes it more spacious for showings to potential buyers. Another necessary element is paperwork you'll need for your move, so start gathering statements your lender might need (tax statements, income statements) or paperwork you need to sell your home (resale documents, HOA paperwork). Finally, be prepared for unforseen circumstances. Unexpected closing costs, contingincies, etc. sometimes occur, so having the expectation that there may be surprises will make the process much less stressful.

Those are the five steps I would tell my friend to take if she wanted to buy a house! If you have any other questions, feel free to reach out at anytime. (202) 827-5069 maureenlandes@gmail.com