From checking your credit to getting the keys, here’s what to expect when you buy your first home in Northern Virginia.
Buying your first home is exciting, and it can also feel like a lot. The good news is that the process follows the same basic steps every time. Once you know what’s coming, it gets much easier to make good decisions. Here’s how I walk my first-time buyers through it.
1. Check your credit
Your credit score has a big effect on the interest rate you’ll be offered, and even a small difference in rate adds up over the life of a loan. Check your reports from all three bureaus (Experian, Equifax and TransUnion), since each one can be slightly different. Do this well before you apply for a loan so you have time to fix any errors.
2. Talk to a lender and get pre-approved
Most buyers need a mortgage, and in Northern Virginia the right house can go fast. Getting pre-approved before you start touring means you know exactly what you can borrow, and sellers will take your offer seriously. If you don’t have a lender yet, I’m happy to introduce you to trusted local lenders I’ve worked with.
If you’ve served in the military, ask your lender about a VA loan. For many veterans and service members it’s one of the best options available.
3. Set a price range you’re comfortable with
What a lender will approve and what feels comfortable each month aren’t always the same number. Think about your full monthly cost, including property taxes, homeowners insurance and any HOA or condo fees, which are common here. Once you know your range, I’ll help you get the most out of every dollar.
4. Decide what matters most
Before we tour a single house, let’s talk about how you live. A few questions to start with:
- What does your commute look like, and do you want to be near Metro, VRE or a slug line?
- If you have kids or plan to, which school pyramids matter to you?
- How many bedrooms and bathrooms do you need now, and in five years?
- Do you prefer a newer home, or an older one with more character?
- Single-family, townhouse or condo?
Northern Virginia has very different neighborhoods within a few miles of each other. Take a look at my neighborhood guides to get a feel for the area.
5. Start your search
I’ll set you up with listing alerts on Compass so you see new homes the moment they hit the market, and we’ll tour the ones that fit. Don’t worry if the first few aren’t the one. Every showing teaches us something about what you really want.
6. Make a strong offer
When we find the right home, I’ll prepare a written offer. I’ll look at recent sales nearby and what’s happening in that neighborhood right now, then help you choose a price and terms that fit your budget and give you the best chance of being accepted. Price matters, but so do your deposit, your timeline and your contingencies.
7. After your offer is accepted
This is where a lot of the real work happens:
- Home inspection. You’ll have a set window to have the home professionally inspected. If the inspector finds problems, we can ask for repairs or a credit.
- Appraisal. Your lender will order an appraisal to confirm the home’s value.
- Loan approval. We’ll keep your lender moving and make sure the terms match what you expected.
- Settlement. In Virginia, closing is usually called settlement, and it’s handled by a settlement agent or title company. You’ll do a final walk-through first, then sign your papers and get your keys.
I’m with you the whole way, and I’m always a phone call away when questions come up.
8. Moving day
Once settlement is set, it’s time to plan your move. If you’re hiring movers, I can recommend reputable local companies. Don’t forget to file your change of address, set up utilities and internet in your name, and update your address with your bank and employer.
Ready to get started?
Whether you’re ready to tour homes this month or just starting to think about buying, I’d love to help. Send me a note or call me at 703-798-4214, and we’ll talk through your plans. There’s never any pressure.
