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DC
METRO REAL ESTATE
Serving
the Real Estate needs of the communities of
Manassas, Bristow, Haymarket, Warrenton, Gainesville
and Culpeper in Northern Virginia
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Dave
Scardina
Broker
/ Owner
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703-829-SOLD
866-909-0900
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Tips for Buying Bristow HomesBristow FAIR MARKET VALUE
Setting the right price is an important first step in getting a home sold. Sellers often wonder if they should spend $200 to $400 for a professional appraisal of their Bristow real estate before placing it on the market.
WAYS TO DETERMINE VALUE IN Bristow
A professional appraiser's opinion of a property's market value is based on the recent sales of similar Bristow real estate. Different appraisers could come up with different numbers. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property. An alternative to a professional appraisal is to ask a professional Realtor for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours.
Bristow Home Buying Pitfalls
Buying your Bristow home whether you are a first time buyer or an ‘Old Pro’ involves legal, financial and emotional considerations. The more you know about the most common buyer mistakes in Bristow, the more likely you are to avoid them.
Make sure that when you put in an offer on any Bristow home that you have spent time narrowing down just what you are looking for. When the sellers accept your offer, you are involved in a binding contract that could cost you your deposit and other damages should you decide to back out. The opposite scenario, waiting for the 100 % perfect home can be an exercise in futility. With the thousands of variables available in housing, including location, style, size, amenities and condition, perfection is almost always an unreasonable goal.
Buying Bristow Below Market
On most real estate Websites you can enter the parameters you want for your Bristow. Include the price, size, features and location and the technology will notify you automatically the moment a property that meets your needs comes on the market. Now if what you are looking for is a particular type of property for a price that is significantly under market, you’d better be prepared to act quickly because you aren’t the only one who’s looking for a bargain.
Often times, when a home comes on the market priced under the market there are extenuating circumstances. Maybe the house needs maintenance. Maybe the yard needs work. If you are prepared with a certain amount of knowledge about the costs of roofing, painting, landscaping and other types of deferred maintenance, you will be in a position to evaluate whether or not the Bristow is priced well enough that it truly is a bargain and not a fixer-upper nightmare.
Buying Bristow Real Estate...Will it Pay?
With a typical 30-year loan, most of your monthly payment goes toward interest payments with only small amounts going to the principle in the early years. Only half the principle is repaid in the first 23 years of the loan. You can build equity in your Bristow faster by choosing a 15-year loan instead of a 30-year loan.
As a Bristow real estate owner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in home equity, you gain $3,600.00. Investing in Bristow can be a very good idea.
Does Your Bristow Have Curb Appeal?
Good curb appeal is definitely an advantage to home sellers when prospective buyers visit your Bristow and can be an advantage in advertising in the newspaper and on the Internet. However, it is important to note that even a home with great curb appeal can look bad in an advertisement if the photographer did a bad job with the camera. A photograph of a Bristow home on a dreary day will look quite different from a photo of the same home when the sun is shining. Sometimes it is better to take a picture of a home from an angle rather than a straight on shot that may turn out to be more about the garage door than about the house itself.
Bristow DEDUCTIONS
One of the advantages of home ownership is that while most other types of interest are not tax deductible, the interest you pay on your Bristow loan is deductible on your Federal and State income tax. This fact alone gives homeowners a distinct advantage over renters.
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