PAM DENT

Jump into Greener Pastures


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How Much Money Should I Save To Buy A Charlottesville VA House?

As a prospective homeowner, it is likely that you already have a dream home in mind. You may already have a checklist of all the features that you need the house to have. The more elaborate your checklist, the more expensive your dream home will be.

If you want to buy a home in Charlottesville, VA, you might be wondering how much you’ll need to save up. It all depends on you, and the type of home that you’re looking at buying. There are quite a few things that could make the house you want to buy expensive. The more expensive it is, the more you will need to save.

This article will explain the cost of the average home in Charlottesville, VA and how much you might need to save to buy one.

Charlottesville Country Homes

What Are Property Values Like in Charlottesville, VA?

For those looking to buy a home in this city, they have to know how much they’d be likely to spend. The median price for a home is about $355,000. Of course, there will also be plenty of homes below and above this price. 

For instance, over 50% of homes available in Charlottesville cost between $250,000 and $500,000. As prices go higher or lower than that range, the number of available homes decreases. But even if you are looking for seven figure homes, you will find a good selection in Charlottesville.

Top Real Estate Agents in Charlottesville, VA

You’ll also find many three-bedroom homes here, followed by two-bedroom houses. If you need even more space, then four-bedroom houses make up 16% of homes in the city.

Since the year 2000, homes in this city have appreciated 134.5%. This is about 4% every year, on average. This is something to consider for those who are planning to buy a home for investment purposes. Over the last ten years alone, the appreciation rate has been about 40%. This is in the top 30% in the nation.

Speaking of investments, you may want to buy a home as a rental property. Charlottesville, VA, is a great location to consider if that is the case. The average rent goes for about $1,700 every month, and about 60% of residents are renters.

Top Real Estate Agents in Charlottesville, VA

How Much Money Should I Save to Buy a Home in Charlottesville, VA?

If you have the cash to buy a home, it is always best to do it outright. This is not an option for most people, which is why they turn to their banks to finance the sale. By getting a mortgage, most people can become homeowners.

You will always need to pay a down payment on the house, even with a mortgage. The percentage of the total house price for the down payment varies. Many people use 20% as a rule of thumb. It can be lower than this, but it is unlikely to be higher. This makes it a good benchmark to use. If the house you decide to buy costs $500,000, you will have to have $100,000 saved up.

To always be on the safe side, ensure you have 20% of the total put aside. If you manage to get a smaller percentage on your down payment, that’s a definite bonus. You can put this extra cash to use if needed, especially if you might need to make some repairs.

Horse Farms for Sale in Central VA

What Factors Can Make a Home More Expensive in Charlottesville, VA?

When looking for a home in Charlottesville, VA, some things can make a house more expensive. You should have these in mind and keep your wallet at the ready. Especially if you want a five-bedroom estate or something like that!

Just because you can afford a house that large doesn’t mean that it is a good idea. Look at your monthly income and make sure that the mortgage won’t take too much of a hit on that. You are going to be paying it off for decades. You should go for a mortgage that is comfortable and won’t leave a serious dent each month.

Charlottesville Country Homes

Here are the factors which increase the value of a home:

  1. The size. This might be the most important consideration when looking for a home. The square footage of the property has a large effect on how much it will cost. This doesn’t refer to the house alone, but the entire lot. There are homes in Charlottesville, VA, that belong to golf communities or have farm space. All that extra land is sure to drive up the listing price. If this is what you want, make sure that you prepare for it. Homes like these are beautiful!
  2. The neighborhood. Charlottesville, VA, is a city and there are many neighborhoods within it. These areas can differ quite a bit and this can show on the average price for homes. Ivy is one of the more expensive neighborhoods in Charlottesville. In fact, it is one of the more expensive neighborhoods in the country. The median price for a home here is $790,000. This shows how important it is to select a neighborhood wisely.
  3. The year of construction. Simply put, the newer a home, the more expensive it is likely to be. The reason for this is rather straightforward. A lot of things in the house will be less likely to break down! Some of the most important parts of a home are the most expensive to fix. This includes the plumbing, wiring, and roof. If any of these get damaged, it will cost a lot of money to fix. A newer house is a sort of guarantee that these parts of the structure will last longer. Buying an older house for cheaper saves you some money you might need for fixes.

To summarize everything, you should aim for a house which you can afford comfortably. The amount of usable space, the area, and how old the house is, affect the price.

Whatever the price might be, have 20% of it on the ready. This will help avoid any disappointments you might encounter. Nobody wants to miss out on the house of their dreams.

Before you make any of these steps, you need to find the house of your dreams. If Charlottesville, VA, is your destination, Pam Dent, Realtor®, is the one. She’ll find you the best options to fit your needs. Call her at 434-960-0161 to get started now!

Is Buying A Home in Charlottesville, VA a Good Investment?

To consider a home a good investment, you need to know what you plan to do with it, as well as where to buy it. In Charlottesville, VA, buying a home can be a good investment. With Charlottesville country homes, there often is open land which may increase in value along with the house itself. Mark Twain is quoted as saying “buy land, they aren’t making more of it”. The fact that there is a finite amount of land, makes these homes a great asset if you need a smart place to put your money.

There are many reasons why you might be buying a home in Charlottesville, VA. You might want a home to live in with your family, or a retirement house. Others might be looking for a place with space to start a farm or raise horses. Charlottesville horse properties are always in demand. Yet, some people want to buy a home only as an investment. They may either be aiming to make a profit in the short-term, or years in the future.

Luckily, there are multiple ways to make money off of a home. Unlike how it might seem, investing in a home isn’t as easy as buying it and selling it years later. While value tends to be secure in a home, it does not necessarily increase. If you know what you are doing, investing in a Charlottesville, VA home will be easy. This article is here to tell you more on investing in Central Virginia country properties.

Central Virginia Country Properties

How to Make a Home a Good Investment in Charlottesville, VA

Real estate is a very complex domain. Ensuring that a home is a good investment requires more than just buying and selling. It requires patience, energy, time, and sometimes more money. Regardless of this, if you put in the effort, it’s possible to reap returns on a property. Here are some of the main ways to invest in a home in Charlottesville, VA.

1.Buying to sell later. The many Charlottesville equestrian estates in the area are perfect for investment. The open land offers the possibility for a variety of agricultural ventures.  This could be a farm for horses, a vineyard, or a sustainable family farm, and you can add barns and agricultural buildings. Many of our local horse farms are perfect for an equestrian business.  Owners can also choose to leave the property vacant, but the potential is still there. As a result of this, holding on to a property and selling it in a few years in a strong economy is likely to bring profit. With this form of investment, accumulating a profit will take several years. One major advantage is that the seller can live in the home during this period. As long as the house is well-maintained and the land is cared for, then selling value will likely stay intact.

Charlottesville Equestrian Estates

2.Buying a rental property. In 2017, there were 43 million rental households in the United States. At any time, in Charlottesville, there will never be a dearth of potential tenants, particularly due to the University of Virginia and the University of Virginia Hospital. Many people cannot afford a home of their own, so they must rent one. For others, they see renting as a short-term alternative to buying a house. Regardless of the reason, it remains true that renters are almost always available for a well-located house. By buying rental property in Charlottesville, VA, it is possible to get consistent returns. There are two ways to approach purchasing a rental home in Charlottesville, VA:

  • Leave the mortgage to the tenants. By buying the house with a mortgage, you are in debt to the lender. Apart from the usual 30% paid upfront, you won’t have to pull anything else out of your wallet. This means that without much monetary commitment, your tenants will pay every month. Of course, most of their rent will go towards paying the mortgage. But, you can always ensure that there is a nice profit on top of the rent for you.

  • Pay off the house in full. This option is a bit more limited, as not everyone will be able to do this. When the house is paid off in full, there is more safety for the homeowner. The house is theirs, and there is no risk of foreclosure if tenants default on payment. Yet, it will take years for them to recoup the value of their investment. This option is better suited for individuals who don’t mind the long-term investment.

3.Buying a property to flip. If you ever find a good deal on a Charlottesville, VA home that needs extensive repairs, go for it. These kinds of properties are perfect for flipping, particularly when the majority of the repairs are cosmetic and not structural. When a seller knows that the home is in a state of disrepair or neglect, the value of the house gets discounted.

By purchasing the home and making repairs, it can often be sold at a significant profit. The house does not have to be in a bad state either. A house that is old or outdated can also get flipped. Such a house will likely get sold at a lower price due to its age. By renovating the structure to a more modern standard, you can add to the asking price. Flipping requires effort, time, and money, but can be profitable in the short-term, particularly if you are able to make some of the renovations yourself and do not mind some “sweat equity”.

Charlottesville Country Properties

How to Get the Best Value out of Your Investment Property

The goal of an investment is to reap a profit. The expectation is that you will try your best to maximize the profit that you get. With any luck and a few simple things in mind, you won’t leave money on the table.

  • Keep the property well-maintained. When you neglect a home, it begins to show. Few people want to buy a house that looks like it is falling apart. It is important to keep not only the building itself looking good but the land around it as well. Neglected land is not attractive to a potential buyer.  Curb appeal matters.

  • Upgrade if needed. This applies to any path of investment chosen for your Charlottesville, VA, house. By making sure the house is up to date, you will earn more money from outright selling or rentals. Replace outdated utilities like pipes and electricals. Also, consider upgrades for energy efficiency or towards achieving a smart home. Be careful about what you upgrade, though. Not everything will add significant value.

  • Get an expert realtor. Many people want to keep all the profits to themselves, so they work alone. This can be stressful, time-consuming, and may not be worth the money ‘saved’. By getting a realtor, everything moves more smoothly. This applies to sales of property and finding renters. They can also assist you with a location-specific valuation that gets you the best price.

Charlottesville country properties are good choices for investment. To ensure you’re getting the best value you can, it is essential to work with a realtor who knows the area. For Charlottesville, VA, this is someone like Pam Dent, REALTOR.

If you’re on the lookout for investment properties in Charlottesville, you’ve come to the right place. Call Pam Dent, REALTOR, at 434-960-0161 to get started on a home.

What Adds Value to a Charlottesville VA Country Home?

You can add value to your country home in Charlottesville by emphasizing the advantages of rural life. The peace of rural areas is important to many people, however having good roads for access to urban areas is a boost. Adequate space for horses and other animals adds value too. The quality of the home and improvements should be optimal. While many appreciate a rustic appearance, modern amenities hold value indoors.

Selling homes in an urban area may be easier than in rural areas. This boils down to more people living in urban areas, thus a larger buyer pool. Modernity appeals to many people. For some folks, though, they want to be among nature, with peace and quiet. For these people, homes in the country are their first choice.

Over half of Virginia’s landmass is rural. There are also over 1 million people living in rural areas in the state. So while urban areas are more populated, rural living is very much in demand. And as a result of the pandemic, an increasing number of people are moving out of the city and into the country. If you’d like to sell your country home in Charlottesville, VA, this is the optimum time to put it on the market.

Before you sell your country house, you want to get as much value as you can. There are things you can do to increase the selling price of your home.

What Can Increase the Value of my Country Home?

Many home improvements can increase the home’s value  beyond the price it costs to get them done. Knowing the appropriate ones can turn a good profit. These range from minor renovations to more considerable additions.

  • Make all repairs: Ensure that all necessary repairs are complete before selling. You may be able to sell a house with a leaky roof, but it’ll take money out of the asking price. If you fix these deficiencies yourself, you won’t leave money on the table. Be sure electricity and water are in perfect working order. All light switches and power outlets should be functional. Don’t forget to make sure all windows and doors open without any issues. Proper repairs enable you to show the house without any worries. You will know there’s nothing you need to be concerned about!  You may even want to have a pre-listing home inspection so that you will know what will be found in a buyer’s inspection and you can take care of those items before your home goes on the market. 
  • Ensure easy access: Even if you don’t like the bustle of cities, being able to get to town easily is important. As much as you stay within rural confines, you will have causes to go to the city occasionally. Buyers coming for house showings will likely arrive from the city too. Private roads leading to your property should be free of any obstacles, well maintained and easy to navigate. Have your mailbox somewhere prominent and well-labeled. Buyers want to know packages can get to them without stress.
  • Get the property looking good: For taking pictures or having a showing, you want the property to look its best. Rural houses can take a lot to maintain, and most buyers know this, but if it looks shabby, they will reconsider whether they should take it on. Don’t add to the work they have to do if they buy. Ensure any grass is freshly mowed, and bushes and trees are presentable. Clean the windows, scrub floorboards, and make the house look pristine. The rustic charm of a country home is one of the major attractions. Take advantage of that, and make it look good before buyers show up. It’s sure to bring more value.
  • Market in the strongest season: You can sell a country home in any season, but you need to know which is optimal. A home in Charlottesville with abundant green is best marketed in spring or summer and don’t forget the display of fall color in the background. That way, the trees and shrubbery are as beautiful as can be! The value of a property is higher when its beauty is evident.
  • Renovate where necessary: If your country home is relatively aged, it may need some renovations. These can bring modern amenities to the home, in both functionality and appearance. Renovating bathrooms and kitchen space is one of the easiest ways to add value. Most buyers won’t want to do that themselves.

What Are Home Improvements That Don’t Add Value?

Adding renovations may seem like a sure way to increase your country home’s value. Unfortunately, that’s not true for the most part. Some home improvements will not do much to improve value. It’s essential to know which ones do, and which don’t. This will prevent you from spending money on non-profitable upgrades.

These improvements may not increase value, but they can seal the deal from prospects.

  • Improving infrastructure: There are many vital parts of a home hidden from sight. This includes water and sewage pipes, as well as electrical wiring. An old house can have older infrastructure in this regard, but upgrading won’t put much money in your pocket. It improves the description of the home, but putting a premium on account of these won’t yield much.  However, if these essential features are not up to date, it could deter a potential buyer from making an offer.
  • Bedroom renovations: A bedroom is a personal space. Putting your own touches on a bedroom to improve the home’s value can prove far from successful. Most buyers will want to design their bedrooms themselves. So doing it for them won’t add more to your asking price.
  • Re-purposing rooms: Changing a spare room into a gym or a theater may seem like a good idea. This is only if the buyer wants exactly that. More often than not, these additions will only frustrate buyers. Sometimes, this means a room that they cannot use. They can re-purpose rooms on their own, if you leave the space for them to decide.  In today’s market, rooms become offices or school rooms.  Buyers will want flexibility.  And with the prevalence of netflicks and streaming, home theaters are no longer popular.
  • Swimming pools: Pools can be fun to have, that’s a fact. Unfortunately, installing one is costly, and so is maintaining one. A home with a pre-existing pool can be a tough sell due to maintenance costs, and many buyers consider a pool to be a lot of extra work. There are also safety issues, particularly for families with children. Don’t expect a pool to add value for every buyer. 

In the end, these are a few of the elements that can add value to your home. Some are quick to put in place, and others may take some time to complete. Don’t forget decluttering and staging which are both inexpensive ways to add value to your home. It’s important to be practical and consider all the factors when planning to sell. Getting a fantastic agent makes selling a breeze. Pricing, location, and the house itself can determine which improvements you should consider.

In Charlottesville, VA, you’ll want to get an agent familiar with the area and with country homes. This way, you’ll get the greatest value, and a sale before you know it.

Don’t hesitate if you have a country home that you want to sell. Call up Pam Dent, Realtor, at 434-960-0161. Not only will she help you maximize value and get the most profit. She’ll make sure you have your country house sold before you can imagine.

SOLD! 5975 Free Union Rd, Free Union, VA 22940

This historic home and a 4.72 acre lot is located in the gently sloping hills of Free Union.It has 4 bedroom, 2.5 bathroom, 3,760 square foot home. This colonial style home merges historic charm with contemporary features and amenities, creating a residence perfect for modern living. It features gorgeous hardwood floors, large windows, a stunning kitchen, granite countertops, and as much space as you need!

Charlottesville Horse Farms | Market Report for February 2018

Horse Farm for Sale in Charlottesville VA

Your own country getaway and horse farm is waiting!

If you’ve been longing for a peaceful and tranquil life in the country where you can enjoy the company of your horses, then you should come and see the desirable city of Charlottesville VA.

This charming town is situated within the upper Piedmont Plateau, in the foothills of the Blue Ridge Mountains and at the headwaters of the Rivanna River. It is approximately 100 miles southwest of Washington D.C. and 70 miles northwest of Richmond, Virginia.

It was established as a town in 1762 by the Virginia General Assembly and was incorporated as an independent city in 1888.

Residents and tourists alike love Charlottesville because of its rich cultural, natural, and artistic history showcased in a selection of first-rate museums, galleries, wineries, shops, and parks dispersed throughout the area. The city was also home to Thomas Jefferson, James Madison, and James Monroe.

Some of the historic attractions include Monticello, the Grounds of the University of Virginia, Ash Lawn-Highland, Historic Court Square, and Michie Tavern, ca. 1784. There are tours, special events, and educational programs aimed at maintaining the vibrant spirit of the past.

 

What makes Charlottesville horse farms so desirable?

Charlottesville is home to the most beautiful houses, peaceful farmlands, horse properties, and estates in the country. There are also many rivers and lakes that provide the perfect setting for aquatic pursuits, such as swimming, fishing, kayaking, canoeing, and tubing.

The city of Charlottesville boasts of a rich equestrian history, dating back to colonial times. It’s no surprise then that equestrian buyers from all over the world are drawn to this town.

With plenty of grass in the area, horses can graze in open pastures. They are free to run and live with enough space to get adequate exercise.

This town provides opportunities to attend horse shows year round within a short drive of Charlottesville. You’ll also find hundreds of miles of beautiful, scenic trails, designed specifically for horseback riding. James River State Park, nestled in the foothills of the nearby Blue Ridge Mountains, has 20 miles of many different types of riding trails.

Charlottesville VA Horse Farms for Sale

Are you thinking of expanding your investment portfolio?

If you love horses and would like to own a countryside escape, the equestrian properties in Charlottesville are what you are looking for.

You’ll definitely find well-planned properties on the market that have everything that a horse farm buyer could ask for.

Market Report for February 2018

There are currently 161 Charlottesville and Albemarle County Virginia farms for sale. The prices range from $325,000 to $19,780,000. Spaces vary from as much as 20 to 870 acres.

 

Horse Farms for Sale in Charlottesville VA

  • 161 Horse Farms for Sale – 161 Traditional Sales
  • 0 Short Sale
  • 0 Bank-Owned/REO Property

 

The median listing price of these horse farms is $ 1,695,000.

Click here for the current list of horse farms for sale in Charlottesville.

Call me, Pam Dent, at 434-960-0161. With my extensive knowledge of the Charlottesville area and the real estate market, I can help you find the best equestrian property that suits your lifestyle.

In case you can not view this video here, please click the link below to view CHARLOTTESVILLE HORSE FARMS | MARKET REPORT FOR FEBRUARY 2018 on my YouTube channel: https://youtu.be/lue0IrZPS9I.

SOLD! Virginia Historic Home for Sale – 2495 Wagon Trail Rd Monroe, VA 24574

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A stunning Virginia historic home and vineyard for sale. The charming renovated historic home has two bedrooms upstairs. The den on the main floor could be made as the third bedroom. The home is nestled among the mountains with 6 acres of open land planted in grape vines, fruit trees, and gardens. The property includes a 7 stall barn with loft and attached storage shed. A lot of beautiful features in this Virginia country property.

 

SOLD! Virginia Historic Home for Sale – 2495 Wagon Trail Rd
Overview Maps Photos Features
$400,000
Single Family Home
Main Features
2 Bedrooms 2 Full Bathrooms Interior: 1,845 sqft Lot: 65.30 acre(s) Year Built: 1898 MLS #: 521236
Location
2495 Wagon Trail Rd Monroe, VA 24574 USA
Pam Dent - REALTOR® Pam Dent – REALTOR®

Gayle Harvey Real Estate, Inc. (434) 960-0161 [email protected] http://www.JumpintoGreenerPastures.com       

 

Listed by: Gayle Harvey Real Estate, Inc.
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😁How to Make Buying a Home a Less Stressful Experience

From saving a down payment to applying for a mortgage to competing with other home buyers, buying a home can turn you into a ball of stress without you even knowing. Since buying a home involves a series of small steps that eventually lead to homeownership, it can be very stressful and challenging.

The good news, however, is that you can make the process go much more smoothly if you understand each step and prepare for the process before you jump into the boat. Before we talk about beating the stress of buying a new Charlottesville VA home, let’s talk about the hardest parts of buying a home so you can prepare yourself for them.

Golf Course Homes for Sale in Charlottesville

  1. Saving for the down payment

Most homebuyers cite this as the single biggest obstacle to owning a home in the U.S. The savings rate in the country is so dismal that majority of Americans find it hard to save enough to make a down payment on their dream home.

While saving money is not easy especially if we are talking about thousands of dollars, it is possible. To prepare for this part, set up a budget that includes a regular line item for your expected down payment, and give yourself as many months or years as you believe it will take. By the time you’ve saved enough, you are finally ready to purchase your dream home.

  1. Finding a buyer for your current home

While this only applies to homebuyers who are living in their current homes, this is also one of the hardest parts of buying a new home. This is primarily because it requires you to be involved in two real estate transactions at the same time. Imagine how hard it already is to purchase a home, and then adding a second—and sometimes an even tougher—transaction into the mix.

Another reason why this is can be very challenging is that most of the time, even a strong market is not enough to sell a home. Many prospective buyers do not always qualify for financing and as a home seller, you will encounter one or more false starts on offers before you get your home sold.

There is also the challenge of having one of these two transactions dependent on another. More often than not, the sale of a previous home is required for the mortgage of a new home. If there is any detail on the sale of your current home that looks a bit odd or uncertain, then that will most likely cause your home buying transaction to fail.

If you want to overcome this obstacle, come up with an effective strategy that will help you sell your current home first before you buy a new one. While that may not be easy, that will increase the chances of your home buying process turning out successful.

  1. Improving your credit

Even though the conditions in the housing market continue to improve, mortgage lenders are still cautious about borrower credit. If you are planning to buy a home and want to make sure that you are able to participate in the widest number of mortgage programs, then the first thing you need to do is to get your credit score up to at least the 700 level.

If you have recently had an impaired credit, improving your credit may be a challenge. This also rings true if you are carrying too much debt.

To prepare for this part of the home buying process, take time to give your credit a boost. Bring it where it needs to be so you can easily apply for a mortgage when it’s time to buy a home. You may want to get a free copy of your credit report as soon as now so you can take a look at the negative information it may reveal. As soon as you see it, take the necessary action.

  1. Choosing the right home in the right neighborhood

This is also one of the biggest challenges when buying a home. Often, prospective homebuyers find the home of their dreams in a neighborhood that goes beyond their price range. Most of the time, what they do is compromise.

Charlottesville Horse Farms

If you do not want to compromise, then find a home that suits your needs and taste and is located in the right neighborhood at the same time. For instance, having school-aged children may push you to sacrifice finding a dream home in favor of moving into an area where there are good schools. On the other hand, having no children at all may push you to prioritize the house more than the neighborhood.

  1. Preventing yourself from overbuying

In every real estate transaction, emotion always has a way of taking over you when you begin your search for your dream home. As a homebuyer, you have the tendency to fall in love with the property and end up paying too much for it in the process.

You may also tend to buy a house just because you like the way the furniture is arranged in it, even when it is not really the type of home that you need. Once you develop an emotional attachment to a home, it’s a short walk to paying more for that home than it’s actually worth. To keep that from happening, make sure that your emotions are always at bay when purchasing the right home for you and your family.

Before you begin your shopping decide on the amount of house you can afford and stick to that. Make sure that you also make decisions based on available facts, not because of your emotions.

Purchasing a home is just plain stressful.

Buying a home is a complicated process that involves strong emotion. In fact, experts agree that moving to a new home is among the top three most stressful events in life- next to death and divorce.

Whether it’s your first time or not, some aspects of buying a home are simply beyond your control.

However, there are some things that can help make your experience less stressful. In this article, I’ve included three of the best ways in which you can beat the stress of buying a new Charlottesville VA home and enjoy the experience.

Home for Sale in Charlottesville VA

1. Get your finances in order

Before you even think about hitting open houses, the first thing you need to do is to get your finances in order. A few months before you start your home search, order your free credit report from the three big credit bureaus at annualcreditreport.com.

Examine your credit report carefully because lenders will use them to determine whether they’ll lend to you and at what rate. If you see any mistakes, have it corrected as soon as possible. You’ll need a score of a least 620 to get a mortgage while the best rates require a score of 740 or higher.

With a financial investment this big, the earlier you start getting your financial ducks in a row, the better.

2. Understand the home buying process

In the home buying process, knowledge is power. Don’t be afraid to ask questions until you understand. It’s essential that you keep yourself informed on the different steps involved in purchasing a home in Charlottesville VA. Doing so will help you manage your expectations.

There’s’ always a measure of anxiety when buying a new home. That’s perfectly normal, but you must not forget that it is also supposed to an exciting time. To make it a less stressful experience you have to prepare. Take time to educate yourself and do some legwork.  

Having an experienced and reliable real estate agent can also be an invaluable resource for you at a time like this. Your agent will keep you in the loop and let you know what’s happening at all time.

3. Partner with Pam Dent

Any real estate agent can help you browse home listings and set up showings for you. However, you will benefit more from working with an experienced real estate professional who has built connections and know-how over the years.

That would be me. I’ve been through the house buying process with many clients many times and I will help you through this one. As your agent, I will point out the pros and cons of homes, making sure you have noticed any red flags and generally making the home buying a positive, successful experience for you. I am familiar with the tools of the trade—from online listing sites to all the paperwork it takes to simply make an offer on a home.

Call me, Pam Dent, at 434-960-0161. My ultimate goal is to make your home buying experience as easy and stress-free as possible. With me on your side, you can take a step back and enjoy the process responsibly.

🏠What to Consider When Creating a Home Wish List

What does your future home look like?

Before you start searching for your new home, you need to have an idea of what it’s going to look like. House hunting can be a time-consuming process so it’s important to have a picture of what you desire and what your budget allows. Knowing your priorities will save you endless time and frustration as you  take a look at the homes for sale in Charlottesville VA.

Creating a home buying wish list can help organize your thoughts. A wish list can also help you narrow down your options.

home for sale in Charlottesville VA

 

So how do you create a wish list?

You need to start by identifying your needs and wants. Needs are features that are must-haves, while wants refer to the home features that make a home special but you can live without. Be sure to make a realistic wish list.

Consider the following questions:

1. Features

  • Do you want historic properties or newer ones?
  • What particular home style do you prefer?
  • How many bedrooms do you need?
  • How many bathrooms do you need?
  • Do you prefer updated bathrooms?
  • What type of living and dining areas do you prefer? Traditional? Formal layout? Contemporary plan?
  • How many stories do you want in a home?
  • How much space do you need?
  • How high should the ceilings be?
  • What kind of kitchen do you prefer?
  • Do you prefer a garage or a carport?
  • Do you need a basement and/or an attic?

2. Amenities

  • Do you need a home office?
  • Do you want a home with a play or exercise room?
  • What kind of security system do you prefer?
  • Do you need a workshop or a studio?
  • Do you need a home with an in-law suite?
  • Do you want a fireplace?
  • Do you want a hot tub?
  • Do you want a pool?
  • Do you prefer a home with a deck or porch?
  • Do you want a laundry room?

3. Location

Remember that your choice of location will affect the home’s current and future value. It will also have an impact on your lifestyle.

It’s also good to keep in mind that you can always add amenities, but you can never change a bad location.

  • Do you want urban? Suburban? Or rural?
  • Which school district do you prefer?
  • Is the neighborhood close to the airport?
  • Is the neighborhood close to restaurants and retails?
  • Does the neighborhood have easy access to major highways and thoroughfares?
  • Are there nearby healthcare facilities?
  • Are there nearby parks and recreation areas?

4. Length of time you plan to live in the home

When looking for a home, you should also consider your future needs, around 7 to 10 years from now. If your requirements might change within that period, be sure the home you’re going to choose will still be able to accommodate your needs.

 

Are you ready to look for your home in Charlottesville VA?

Call me, Pam Dent, at 434-960-0161. I am committed to helping you find the home that suits you best. I make it a goal to provide excellent service to all my clients. With my help, your home purchase process will be seamless!

 

👍How to Make Your Home Offer Irresistible to Sellers

Your bid needs to stand out when you’re competing with a lot of other buyers.

In markets with houses in short supply, sellers have the advantage over buyers. This often results in bidding wars among buyers vying for the best properties.

Charlottesville VA home

You may need more than just money in order to buy the Charlottesville VA home that you want. You must give sellers enough reasons to pick your offer over offers from other bidders. Your purchase offer should persuade sellers that you are a serious buyer who will give them most of what they want.

Here are some ways to make your home offer stand out:

 

1. Cash Is King

If you can buy a Charlottesville VA home with a full-cash offer, you will have an advantage over other offers with mortgage requirements.

Sellers love all-cash offers since they’re less likely to fall through before the sale closes. This is because there aren’t any issues involving mortgages, the escrow closes faster, and there is no appraisal requirement.

2. Get pre-approved

If you can’t pay cash, you’ll need to get a mortgage.

Check your credit reports three or four months before you start looking for homes for sale in Charlottesville VA. That will give you enough time to correct any errors and take steps to improve your credit score. You can get your reports once a year free from the three major credit bureaus at www.annualcreditreport.com.

Don’t bother submitting an offer on a house without a loan pre-approval in hand. A pre-approval letter from your mortgage broker or bank confirms that you can borrow enough money necessary to finance the home. It shows a seller that you’re not only qualified but also prepared and serious about purchasing their home.

3. Get the sellers to like you

To improve your chances of winning the bid, let the seller know why you want to live in the property they once called their home.

The old-fashioned letter is still one of the most useful tools for buyers these days. This will help you connect with the sellers, especially if you haven’t met them.

If the sellers love the home, they are more inclined to give it to someone they have more in common with. It’s the human factor. If you are not sure what to write to the seller, just let them know how important the house is to you, how special it is, and how you plan to take good care of it.

4. Give the gift of time

Be willing to work with the seller’s timetable to go to closing. Generally, closing takes place within 30, 45, 60, or 90 days.

You can customize the length of the closing in order to meet the seller’s need. This strategy has been proven effective many times. If the sellers want to remain in the home for a while after closing, offer them a “lease back” or “rent back”. This is legal arrangement and you will become their temporary landlord. If you are bidding on a short sale, let the sellers know that you are patient and can wait for the bank’s decision.

 

Making an offer on a home may seem daunting, but it doesn’t have to be. As your agent, I can help you craft a strong offer. I will not only guide you, but also go the extra mile for you!

Call me, Pam Dent, at 434-960-0161. I can help you find the best home that suits your needs. Let’s get started!

✅Why a Pre-Approval Is Crucial When Buying a Charlottesville VA Home

Are you getting ready to buy a new home?

One of the most important steps in the home buying process is obtaining financing. As a buyer, you have to know for certain which type of mortgage best suits your needs. In order to determine that, you need to get pre-approved for a mortgage.

Charlottesville real estate for saleMany buyers don’t understand why getting a pre-approval is important.  The truth is, if you don’t get a loan pre-approval before you start looking for Charlottesville homes for sale, you might actually prevent yourself from finding—and buying – your dream home.

Pre-qualification Vs. Pre-approval

There are some people who think that a pre-approval and a pre-qualification are one and the same.  There is actually a world of difference. You need to understand the difference between being pre-qualified and pre-approved.

A pre-qualification is the initial step and the entire process is informal. To prequalify for a mortgage, you have to meet with a lender and provide information about your assets, income, and liabilities. The lender will give you a rough estimate of how much money you can borrow based on the information you have given.

A mortgage pre-approval, on the other hand, is when a lender gives their written commitment to a potential borrower. With a pre-approval, the lender checks your credit and verifies your financial and employment information and documentation.

With a pre-approval letter from your lender, real estate agents and sellers know you are a serious buyer. Your pre-approval letter proves that you already have the backing and the ability to go through with the sale, making you a much more attractive buyer to sellers.

Below are several reasons you will be glad you obtained a pre-approval for a mortgage before looking for homes for sale in Charlottesville VA:

 

1. It pinpoints a price range

With a mortgage pre-approval, you will learn how large a loan you would qualify for based on your financial history. You don’t have to waste your time looking at properties that are beyond your price range.

It also narrows down the neighborhoods you should consider. When you know your budget, you also know what areas you can afford. This way, you can find your dream home much faster.

 

2. It results in a higher acceptance rate

Sellers are less willing to accept offers from a buyer without a pre-approval. They don’t like it if they need to wait for a buyer to get approved for a mortgage before a serious offer can be made or accepted.
Sellers appreciate buyers who have been pre-approved because they can start negotiating right away. In addition, they may be more willing to lower the asking price, cover closing costs, or make adjustments to work with a pre-approved buyer.

 

3. It speeds up the process

If you aren’t pre-approved, you’ll spend more time looking for homes. You may get turned down once you’re ready to make an offer.

With a pre-approval, you have less to worry about. You’ll have fewer major hurdles to overcome.

 

Let me help you find your dream home!

Call me, Pam Dent, at 434-960-0161. I’m committed to helping you become a successful home buyer in Charlottesville VA!

 

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Contact Pam

Pam Dent
Phone: (434) 960-0161
Email: [email protected]
Gayle Harvey Real Estate Inc.
198 Spotnap Rd, #C-5,
Charlottesville, VA 22911


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