How To Determine How Much Home You Can Handle

Buying a new home is a very exciting time.   But trying to figure out how much house you can handle may be an even bigger challenge than you can imagine.  So let's talk about the best ways to help make that decision and keep yourself in check.

1. Look into your future -  where will you be working for the next seven to ten years, how much do you expect your family to grow etc.  Sometimes people err on the side of caution a little too much.  They will buy a home that suits them just fine for now and they think they are saving money.  But the truth is - you should be buying a home that will suit your needs now and for the next seven to ten years. It will cost you more in the long run if you outgrow your home and have to go through the time and expense of having to move again.  

2.  Don't buy too much home - following in line with the above statement - you don't want to buy too much home.  A home that is more than you will need for years to come.  Remember, a larger home means more to heat and cool, more repairs to be done, more landscaping and the property taxes will be higher just to name a few.  So think about the future but make sure you don't go overboard.

Here are a few things that will help you make your decision about your future home wants versus your needs:

• marriage or co-habitation

• having children or adopting a child

• what kind of pets will you have and how many

• how soon will your kids be leaving home

• will your adult kids be staying at home or returning home

• do you have aging parents or other extended family moving in

• how long do you plan on staying at your current job

• what activities do you enjoy that will require a certain space in or around your home

• do you plan on renting out the extra space in your home

3. What about maintenance and repairs -   do you have money saved for unexpected repairs and ongoing maintenance items or do you have the ability to fix things yourself.

4.  Homeowners association fees - don't forget to factor in any homeowners association fees and possible future increases in those fees.

5.  Financial sustainability - do you have the means to pay for an unexpected interruption in income someday and did you take into account that property values generally increase each year resulting in higher taxes.

As you can see, there is much to think about before buying a home.  Talk to your realtor about helping you determine how much home you can handle.  Your realtor deals with home buying and selling every day and will be more than happy to help you come up with a detailed plan for buying a home that will suit your needs now and into the future.

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia. 

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800 ��yd
e�bll be more than happy to help you come up with a detailed plan for buying a home that will suit your needs now and into the future.