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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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Facts About Bristow Homes for Sale / Buy and Sell WiselyBristow-Home of Their Dreams
Ever think you would like to build your own Bristow home and have everything just the way you want it? Lots of people do and they often start by looking at land or lots for sale. With many people the idea is to buy a lot today, get it paid off or mostly paid off and then sometime in the future, contract with a custom builder for the Home of their Dreams via Bristow.
Negotiating the Sale of Your Bristow Home.
Some say that the “Devil is in the Details” and these last two steps are full of details as buyers make offers contingent upon certain conditions being met by the seller and sellers make counter offers in the process of closing your Bristow home. Once there is agreement, however, many details still remain in order to finalize the sale.
Bristow Homebuyers Quandry
First time Bristow homebuyers have their issues to deal with and homeowners who want to move up, down or sideways have an entirely different set of problems. A homeowner’s first task is to counteract human nature. Humans must be genetically programmed to find their next home and then scramble to sell the one they have so they can afford the one they want. The Bristow market is no exception. Of course, this is contrary to good sense but since most people will go ahead with the Buy then Sell approach.
Building Bristow Home Equity
A popular question from prospective Bristow homebuyers relates to building home equity. Buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the home’s market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00, especially in Bristow.
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 Bristow home equity faster by choosing a 15-year loan instead of a 30-year loan.
Buying Bristow Real Estate...Will it Pay?
The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Bristow loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today.
Taking Title to Your Bristow
There are so many details to consider when purchasing your Bristow and mounds of legal paperwork to read that sometimes it seems overwhelming. Some important decision can be made ahead of time so you know what is in your best interests when the time comes. For example, right at the end when the paperwork is being signed you may be asked how you want to take title. This is an important decision that should not be rushed but often is. Knowing some of the common forms of Bristow ownership ahead of time is one way to protect yourself.
A single Bristow buyer will usually want to take title in his/her name alone. Husbands and wives usually own property through a form of joint ownership such as joint tenancy. Unrelated individuals can take title in a limited partnership arrangement.
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