How homebuyers can obtain maximum value in DC's seller's market
With hard work and effort, you can purchase one of the affordable homes for sale in Washington, DC. While some people might consider it a challenge to find inexpensive properties, The Washington Post outlines several tips you can follow to obtain the maximum value on your investment.
Plan to make a bigger down payment
Planning ahead is a good idea with any investment, especially when it comes to buying a home. The more you can pay up front, the more appealing your bid could be to a house seller. Also, many lenders are offering 15- and 30-year fixed-rate mortgages under 4 percent, so it's possible to enjoy more affordable payments on your property over the life of your loan.
Cash is ideal
You may gain more control of a property acquisition if you can pay in cash. Sellers often look to close deals with buyers as soon as possible, and having cash readily available can notably speed up a real estate transaction.
Sellers might appear to hold all of the leverage in the current market, but don't sell yourself short. Be proactive when you search for properties in the metro, and if you miss an opportunity, move on to the next one. There are still plenty of chances to acquire property in DC, and taking the time to assure you receive value on your investment is the key to a successful transaction.