Questions To Ask When Considering Selling In Fairfax County
These questions will help you decide whether you’re ready for a home in Fairfax County that’s larger or in a more desirable location. If you answer yes to most of the questions, you may be ready to move.
Have you built substantial equity in your current home?
Check your annual mortgage statement or call your lender to find out how much you’ve paid down. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest. But if you’ve owned your home in Fairfax County for five or more years, you may have significant, unrealized gains.Has your income or financial situation changed?
If you’re making more money, you may be able to afford higher mortgage payments in Fairfax County and cover the costs of moving. If your income has decreased, you may want to consider downsizing.Have you outgrown your neighborhood?
The neighborhood you pick for your first home in Fairfax County might not be the same one in which you want to settle down for good. You may have realized that you’d like to be closer to your job or live in a better school district.Are there reasons why you can’t remodel or add on?
Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home in Fairfax County may be your best option.Are you comfortable moving in the current housing market?
If your market is hot, your home may sell quickly and for top dollar, but the home you buy will also be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home in Fairfax County. Consult Nesbitt Realty agents to ask what they see happening locally. Are interest rates attractive? Low rates help you buy “more” home, and also make it easier to find a buyer for your current place in Fairfax County. Is the effort and cost of maintaining your current home becoming difficult to manage? Nesbitt Realty can help you decide whether a smaller house, condo or rental would be appropriate.Properties in
Buying A House in Alexandria VA With Resale Value in Mind
- location,
- location and
- location.
- Does the neighborhood have easy access to shopping and groceries?
- Is the neighborhood served by a good school?
- How is the view? Is the home close to the Potomac?
- What's the traffic like at various times of the day? Do you have a lot of cut through traffic or are you in a quiet corner of the center of the world?
- How are the neighboring properties kept?
- Consider the orientation of the house. Depending upon the time of the year the sun will set in different places and this can impact comfort and view.
- How big is the lot? How private is the lot?
- What sort of lay-out does the home have? Does the floorplan work for you? Does it work for others?
- Are the kitchens and baths new or do they need updates?
Features to avoid
- One-bath homes can sell for significantly less than homes with at least two baths and they take longer to sell. - Electric baseboard heat and electric ceiling heat are usually not as desirable as central heating systems. - A fireplace in the living room is usually a plus. In older/historic homes, the fireplace might need some attention. Your first objective is to buy a home that's right for you, but it's important to estimate the resale value before you make the final decision, especially if you know you'll move again within three to five years. A careful purchase now will help give you extra funds to move up with the next time you buy a home. Just Listed in Alexandria VA
