First Time Home Buyers--Who Will Be Living There?

By
Real Estate Agent with Momentum Realty

In the Washington D.C. Metro area, and specifically Northern Virginia, the search for a firsttownhouses home can be a particular challenge. Single family homes are often out of reach for all but the most successful first time buyer (and even then, only those who are disciplined savers), which leaves the First Time Buyers with a choice of purchasing a townhouse or condominium.

With the townhouse and condo options, First Time Home Buyers have to very clearly define their needs. Often this means figuring out who will be living in the property.

Will you be living alone, with a significant other, or do you want the option of getting a roommate?  This matters a lot as you choose your house.  

Do you have a lot of out of town guests and will you need a guest room? Does a Futon in the living room work, or are you more comfortable with a private room for guests?

If you will be living as a couple, a great master bedroom with adequate closets for both people's possessions often tops the list. An adjoining bathroom with two sinks comes in as a strong second requirement. What else is important to you both?

If you are thinking you might want a roommate, a property will need to have two full baths so that you each have your own private space. Will you want you roommate on the same floor as you? Or will you want a separate entrance? Will you want to share a kitchen?  You will want to make sure that any room you would consider renting out has full access/egress (ie. basement rooms must be above ground or full sized windows or doors). Probably the most important thing to consider if you are planning to have a roommate is that you should be able to handle all of the expenses without one.  If you consider the rent 'gravy' and put it toward your savings for repairs, maintenance & upgrades then you will not risk losing your home if for some reason, you must go several months without the rent payment.

If you are going to live alone, you should still keep in mind the requirements of the other two types of purchasers. Presumably, this will be your first home purchase, but not your last. When you sell your first home, it is very likely to sell to someone who is also a First Time Home Buyer.  The more requirements that it meets  for all types of living arrangements, the more eligible buyers will consider your house at resale time.

Once you have determined what your living arrangement needs are you can make the determination as to whether a townhouse or condo--or possibly a single family house, in your price range, best suites your needs.

Let me know if you are considering a purchase in Northern Virginia and would like to discuss my services as an Accredited Buyers Representative. Making sure that you have an advocate in your corner as you go through the process is critical to making sure you end up with the house of your dreams, in a place you can afford, at a price point that makes sense. And after all, isn't that EXACTLY what you are looking for in your first house?

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I believe that buying or selling real estate should be a GREAT EXPERIENCE. If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!

If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!

The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.

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