The 2022 real estate market felt like a roller coaster ride with sharp turns, rising and falling home prices, and soaring interest rates. Many home buyers were forced to put their dreams of buying a new home on hold. If you're hoping to buy a home in 2023, our real estate agents have important tips that will put you on the road to successful home ownership.
Keep a Close Eye on Your Credit
If you're planning to buy a home, your credit rating will have a big impact on your loan approval. When you apply for a mortgage loan, lenders will pull your credit report to check your credit score, payment history, and debt-to-income ratio. Late payments, outstanding loans, credit card debt, and a high debt-to-income ratio can cause mortgage lenders to deny your loan.
Moving to the D.C. area opens the door to many new experiences. If you like to explore, you can find a treasure trove of things you can do as a family. After a long day of learning what the area has to offer, visit one of the sweet places where you can enjoy a dessert treat that is second to none. Our real estate agents can help you find a sweet shoppe that offers many of your favorite goodies.
Seylou Bakery & Mill – Seylou Bakery & Mill offers the best whole grain foods in the D.C. area. All of the foods made at the bakery are made with flour that is ground on the property. Approximately two dozen types of grains are used on a daily basis to ensure that everything offered on the menu is as delicious as it is unique. Seylou works diligently to support local grain farmers throughout the Mid-Atlantic area.
If you're buying a house, a home inspection will help you uncover problems before you close the deal. Although lenders don't always require them, our real estate agents know they can detect hidden problems in a home that can cost you a lot of money down the road. Take a look at nine important questions to ask your home inspector before, during, and after the inspection.
What do you charge?
Most home inspection rates range from $300 to $600, depending on the size of the house and the going rate in the real estate market where you live. Ask the inspector about the charge in advance because payment is usually required on the day of the inspection.
What do you check?
Most home inspectors check the roof, the basement, the foundation, and the visible structure of the house, but they don't cut into walls to check for hidden problems. If they suspect electrical or plumbing problems, they will note it on their report and refer you to an electrician or plumber for further inspections.
Can I join the inspection?
The answer should be yes! Good inspectors want homeowners to join the inspection and ask questions about important systems in the house. If an inspector doesn't want you tagging along, it's best to look for a different inspector.
What does this mean?
During your home inspection, the inspector will point out potential problems that may require repairs. If the inspector notes missing roof shingles, rotten floorboards, or leaks in the basement, ask about possible repairs and how much those repairs may cost.
Should I be worried about this?
Don't be afraid to ask questions if you spot potential problems. If you notice water spots on the ceiling, uneven floors, mold under the sink, or musty odors, talk to the inspector about your concerns, especially if you're looking at D.C. homes for sale that are over 50 years old.
How do I maintain this?
If you're looking at older homes, they may have inadequate electrical panels to support your lighting, electronics, and new appliances. Instead of central air and heat, you may find a boiler system in the basement. Ask your inspector about necessary maintenance and the costs of upgrades.
Where are the electrical box and water shut-off valves?
Many homebuyers have no idea where the electrical box and water shut-off valves are located until they have an emergency and need to find them. Ask your home inspector to point them out, so you're prepared in advance for an unexpected electrical outage or broken pipe under the house.
What are your biggest concerns?
At the end of the inspection, your inspector will give you a summary of his results and forward a written report within a few days. This is a good time to address your concerns and ask the inspector about his major concerns. Make a punch list of flagged problems, so you can follow up on the costs of potential repairs and talk to your real estate agent about contingencies.
Should I call other professionals?
If your home inspector is concerned about specific problems like a damaged roof, electrical wiring, poor insulation, water leaks, rotten flooring or siding, or termites, you should follow up with a roofer, an electrician, a plumber, and a termite company. The home inspector can only note the problems but can't tell you how extensive they are or how much repairs will cost.
If you're considering a move to D.C., contact us about neighborhoods, homes, and prices that fit your family's lifestyle.
D.C. is a popular tourist destination for people who come to see the White House, the Smithsonian, the Lincoln Memorial, and the National Gallery of Art. The city is filled with historical treasures and beautiful parks, but it's also home to some of the best breweries you'll find anywhere. If craft beer and scrumptious food sounds good, our real estate agents recommend visiting these local D.C. breweries where family fun is also on the menu.
So you've just finished shopping for D.C. homes for sale, congratulations! Now it's time to begin making that new home your own. There are some maintenance tasks that you'll want to take care of quickly in order to make the transition to your new home as smooth and stress-free as possible. Our real estate agents have all the details on common home maintenance tasks for first-time buyers and the tools that you'll need for the job.
For many D.C. homeowners, Halloween is a holiday that brings fun-filled activities for the entire family. Decorating with pumpkins, dressing up in costumes, exploring haunted houses, and trick-or-treating with the kids make Halloween so much fun. If you look forward to this spooky time of year, our real estate agents recommend visiting some D.C. events that are sure to put some fun and fright in your day.
While many of us would be forgiven for feeling like every day should be National Coffee Day, there's a real day just for coffee lovers, and it's coming up on September 29. Fortunately, you won't have to travel far from D.C. homes for sale to find a top-rated local coffee shop, and there are great spots all around the city to enjoy a cup of your favorite brew. Our real estate agents have all of the delicious details on 6 of the best DC coffee shops for celebrating National Coffee Day this year.