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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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Haymarket Real Estate Tips / Help for Buyers and SellersHaymarket Real Estate or Homeowner’s Insurance
While it is necessary to have Haymarket Real Estate or Homeowner’s Insurance, there are ways to reduce your premium costs.
One: Raise your deductible. Deductibles are the amount you must pay towards a loss before your insurance company starts to pay. You can save costs on your overall policy by increasing the amount of your deductible. For example, according to a Federal Government paper on lowering Haymarket insurance costs, you can save up to 12% on your rate if you go with a $500.00 deductible rather than a $250.00 deductible.
Haymarket Home Improvement
Homeowners hear a lot about improvements that might add value to houses. But less attention is paid to what to avoid. Steer clear of renovations that will cost you money at resale time.
If an Haymarket home becomes conspicuously larger -- and more expensive -- than those around it will risk becoming hard to sell. Additions tend not to return their entire investment. The 2005 "Cost vs. Value Report" found that homeowners were able to recoup only 83% of the cost of a family-room addition and 82% of a midrange master suite.
Guidelines for Buying Haymarket
The Internet is great but nothing really substitutes for your personal inspection of homes that are for sale in the Haymarket. When you have visited plenty of homes online and in person when the right property comes along you will know it.
It is perfectly normal for buyers to have a general idea of what they want in a home without a great deal of specificity. Research, both online and in person will help you define your Haymarket needs but you can and should know your financial needs before you even start looking. I recommend that buyers go through the process of prequalifying with a lender or at least with a real estate agent in order to narrow the search among homes that are a possibility. Many agents refuse to show homes to prospective buyers who have not been pre-qualified.
Buying Haymarket Real Estate...Will it Pay?
A frequent question from prospective homebuyers relates to building home equity. Haymarket 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. This is one way of building your Haymarket home equity but there is more you can do.
Choosing Your Haymarket Neighborhood
You’ve probably heard about the three major determinants of Haymarket values are: 1) location, 2) location and 3) location. This is not only true about real estate in Haymarket; it is true about real estate in general. If you cannot afford what you want where you want it, give up something inside the house rather than settling on a lesser location.
Taking Title to Your Haymarket
There are so many details to consider when purchasing your Haymarket 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 Haymarket ownership ahead of time is one way to protect yourself.
A single Haymarket 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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