If you are in the market for buying a home; I know of an exceptional place! Loudoun County is an idyllic place to call home as new and exciting things abound in its' peaceful and quaint setting. Buyers of all kinds find its charm, location and beautiful surroundings hard to resist.It's no surprise then, that first time home buyers choose to settle down in Loudoun County and make it their permanent home. There's a sense of excitement and mystery that surround making this decision for the first time. Dreams of having a living space that is solely "yours", not being answerable to a landlord for paint colors or home improvements seem surreal. Loudoun County is filled with gorgeous homes and many options for find that ideal home to fit your needs!
In all the excitement, it can be easy for first time buyers to get carried away in wanting to do everything at once. Below are 7 tips to ensure that the transition and whole experience is enjoyable for years to come.
1. Don't Overspend on Furniture and Remodeling - Give yourself time to adjust to the expenses of home ownership and rebuild your savings – the new kitchen you’ve been wanting will still be waiting for you when you can more comfortably afford them.
2. Don't Ignore Important Maintenance Items - While you should exercise restraint in purchasing the nonessentials, you shouldn't neglect any problem that puts you in danger or could get worse over time, turning relatively small problem into a much larger and costlier one.
3. Hire Qualified Contractors - Hiring professionals to do work you don't know how to do is the best way to keep your home in top condition and avoid injuring yourself.
4. Get Help With Your Tax Return - Home ownership significantly changes most people's tax situations and the deductions they are eligible to claim. Just getting your taxes professionally done for one year can give you a template to use in future years if you want to continue doing your taxes yourself.
5. Keep Receipts for Home Improvements - When you sell your home, you can use these costs to increase your home's basis, which can help you to maximize your tax-free earnings on the sale of your home.
6. Don't Confuse a Repair with an Improvement - Unfortunately, not all home expenses are treated equally for the purpose of determining your home's basis. The IRS considers repairs to be part and parcel of home ownership -something that preserves the home's original value, but does not enhance its value.
7. Get Properly Insured - Your mortgage lender requires you not only to purchase homeowners insurance, but also to purchase enough to fully replace the property in the event of a total loss. But that's not the only insurance coverage you need as a homeowner.
Read the full article 7 Smart Steps Every New Homeowner Should Take on Realtor.org.
If you're a first time home buyer or are wanting a change of scene; I would enjoy answering any questions you may have about Loudoun County! Come see why so many love to call this charming place "home".
Helena Talbot
Broker/Owner Exit Realty Talbot and Company
Phone: 703-574-3800
Email: Helena@mris.com
www.loudouncountyonline.com
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