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10 Steps to
Buying a Home

Thinking of buying a home in Washington, DC Metro? Make sure you know what to expect—whether you're a first-time buyer or a real estate aficionado. Here are the steps you need to know for buying a home.

The Home Buying Process

1.

Determine what you can afford

Determine what you'll be able to afford in mortgage payments each month, as well as what you can invest initially as a down payment. This handy mortgage calculator can help you estimate your monthly payments.

Keep in mind additional expenses like closing costs, fees, homeowners insurance, and taxes will all add to the overall cost of your home.

2.

Shop for a loan and get preapproved

Finding a trustworthy lender and determining what type of loan you'll qualify for will help you figure out how much home you can actually afford. Get recommendations, check with the Better Business Bureau, and be sure to talk to at least three or four lenders before making a decision.

Need recommendations for lenders in Washington, DC Metro? Just ask me!

3.

Determine the selling price of homes in your location

If you have a preferred location or neighborhood, find out the actual selling price of homes in that area—not just their listing price—to confirm whether you can actually afford that location.

Have a particular neighborhood in Washington, DC Metro you'd like to check? Request your neighborhood sold report here!

4.

Find an agent

Your agent should be someone you know you can trust, an expert on real estate in your area and neighborhood, and very proficient in working with buyers of your experience.

Looking for an agent in Washington, DC Metro? Find out more about my experience and how I can help you buy a home!

5.

Find your home

This is the fun part, where you get to visit open houses, tour homes, make notes, and really hone in on your perfect dream home! Make sure you keep detailed records of the homes you visit, noting things you liked, didn't like, pros and cons, etc. Taking pictures can also keep your memory fresh.

Buying a home in Washington, DC Metro? Start searching for your dream home today!

6.

Make an offer

When you find your favorite home, work with your agent to determine a competitive but reasonable offering price. You'll want to choose a number that is comfortably within your price range but competitive enough that it won't cause the seller to immediately reject your offer.

7.

Get an inspection

Nothing's finalized yet, so make sure you're getting your money's worth! Ask your real estate agent to recommend a trusted home inspector to walk through the house and check for any potential defects or problems. If necessary, you can request that the seller repair any issues you find.

8.

Finalize your mortgage

Work with your chosen lender to submit your mortgage application, review predicted closing costs, and have your home appraised. Common closing costs include attorney fees, title insurance, appraisal fees, home inspection fees, courier fees, government recording fees, and taxes.

9.

Close and pay

It's time to close! Meet with your agent, lender, and the seller to finalize the paperwork, sign your contracts, and pay your down payment and closing costs. Finally—the keys to your new home!

Still Have Questions or Ready to Get Started?

If you're thinking of buying a home in Washington, DC Metro, then it's time to contact Pam Ryan-Brye. Not only can I answer all your buying questions, I can also help connect you with the resources you need to make an informed decision so you're sure to find your dream home at just the right price. Take a look at some of the home buying resources I have to offer.

Washington, DC Metro Home Buying Resources