Homeownership is undisputedly the Great American Dream. There is a good reason for that, especially as interest rates have dropped. And while the pandemic has changed the landscape of buying a home, with patience and the help of great real estate professionals like The Licata Group, you can make this a reality. If you’ve never walked this path before, there are a few steps you can take to help your dream come true.
Step 1: Check Your Credit Score
Your credit score is a number that gives lenders a good idea of whether you’re financially responsible. Ideally, you’ll have a score of 720 or higher. You may be able to get a loan with a credit score of 580, but the higher your credit score, the lower your interest rate. It’s always a good idea to know what’s hiding on your credit report before you contact the lender.
Step 2: Know What You Can Afford
Knowing your credit score is only part of the puzzle. You also have to figure out how much you can reasonably afford for your mortgage. According to the Consumer Financial Protection Bureau, most lenders will also consider your debt-to-income ratio (DTI). Generally speaking, you are more likely to repay your loan if your DTI is 43 percent or less. Your credit score and DTI may also determine which types of loans you are eligible to receive.
If you have very little credit, as many homebuyers do, you might want to consider an FHA loan. Often, you can put less money down and still walk away with a reasonable monthly payment. If your goal is the lowest mortgage possible, plan to put 20 percent down and stick to a 30-year loan. Fifteen- and 20-year loans are also available, and they can help you pay your house off faster, but they’ll cost more money each month.
Step 3: Find the Right Realtor
If you haven’t already, it’s time to start shopping for a reliable real estate agent. This is the person who will represent your best interests throughout the home-buying process. While it is technically possible to buy a house without this kind of assistance, keep in mind that a buyer’s agent does not charge you. Instead, barring a few exceptions, their time and expertise are compensated by the commission offered by the seller.
Step 4: Begin Your Search
Now that you have a handle on money, you can start your home search. First, determine how much home you actually need. Plan for the future and look for a home that will provide enough room to accommodate your lifestyle and space needs for the next five to 10 years. This is where the affordability factor comes into play, and your realtor will be able to steer you in the right direction. Note that on average, homes in Lake of the Woods currently sell for $335,000.
Step 5: Found It! Make an Offer
When you think you have found the perfect house, put your game face on and make an offer. Depending on your local climate, you may want to offer close to the asking price – your agent can help you make that determination. Keep in mind, however, that even after they accept the offer, things may change depending on the home inspection and appraisal.
In a normal scenario, when your offer is accepted, things will move quickly, usually between four and six weeks. However, the pandemic could have an effect on how long you wait to close. Regardless, during this time, you’ll be contacted by your lender for additional information, and you will be in close contact with your agent. If everything goes off without a hitch, you’ll find yourself sitting at the title company on closing day, holding the keys to the next chapter of your journey.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available properties, please visit our website licatagroup.com
Welcome to 3209 Traveler Street, in the middle of everything yet in its own wooded enclave you find Mosby Woods. A 60’s planned community that thrives today as a wonderful established neighborhood. You will fall in love with all the updates and fine finishes this beautiful home boasts. Full of charm the living room is generous, stunning and features a fireplace. Kitchen is updated with granite counter tops and dining area as well as a formal dining room. The classic owner’s suite with en-suite bath is updated and inviting. A finished lower level offering another family room and flex space to use as an office, classroom or craft room is sure to please.
Enjoy the expansive deck to relax, entertain and enjoy the privacy of your own backyard oasis. Close to great schools and George Mason University, ten minutes to Fair Oaks Shopping, Tysons Galleria, Vienna Metro, Army Navy Golf Club and easy access to I66 and all major highways. Did we say NO HOA??? Yes, and with no HOA dues in the heart of Fairfax it makes Mosby Woods uniquely appealing. A large community pool and clubhouse is right inside the neighborhood which you can join for an annual fee. Activities abound and Dale Lestina Park offers walking trails and playgrounds in a wooded 8 acre setting. For more information on 3209 Traveler Street, Click Here!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available properties, please visit our website licatagroup.com
Build your dream home here on this incredible half-acre + lot backing to parkland! If you are looking for privacy on a sought-after larger lot, this is it!
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, waterskiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed!
Perhaps you’d like a game of bridge or volunteering your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $100,000 to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience why I love Lake of the Woods! For more information on 208 Edgemont Lane, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to 117 Butler Circle… a fabulous lot located near the back gate, on which to build your perfect home in the sought after Lake of the Woods! Mature trees and almost an acre make this the one! So get your lake life started by building your perfect place at the lake on one of the few remaining lots! For more information on 117 butler Circle, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
In February, 20 homes sold in Lake of the Woods. 0 sold between $130-199,999; 4 sold between $200-249,999; 6 sold between $250,000-299,999; 5 sold between $300-349,999; 2 sold between $350,000-399,999; 2 sold between $400-599,999; 1 home sold over $600,000.
14 Active Listings for Sale 63 Homes Under Contract 40 Homes Sold since January 1, 2021.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata
Welcome to 222 Spotswood Road, close to the main gate and backing to Spotswood Park. This is the perfect fixer upper! This gem will need a new roof and several repairs. Property being sold “AS-IS” and no repairs will be made by the seller. This home will require an FHA 203K loan or cash. Inspections will be paid by the buyer and the utilities are on. For more information on 222 Spotswood Road, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to 10816 Pinnacle Drive, which features a transitional floor plan, over 5600 square feet of finished living space, and water views. You will be wowed by what this home offers: two-story foyer, generous sized rooms, custom moldings, fabulous bar in the lower level and amazing patio. This home allows for flexibility for any lifestyle. The kitchen is the heart of the home with a gourmet layout and expansive island with breakfast bar and dining area. The main level owner’s suite is expansive, and the en-suite bath is beautifully finished with double vanity, soaking tub and glass oversized shower. Several flex spaces that will make working from home or homeschooling a breeze. Fawn Lake is an elegant, gated community with a 288-acre lake boasting seven miles of wooded shoreline. Enjoy the Clubhouse, swimming, tennis, golf, the country club, and an Arnold Palmer golf course and so much more. For more information on 10816 Pinnacle Drive, Click Here!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available properties, please visit our website licatagroup.com
Welcome to 20233 Mountain Track Rd! If privacy is what you crave then this beautiful home is the one! Perfectly situated on two acres where you can watch the deer graze and the birds sing. Once inside you will love all the new flooring and spacious light-filled living room with a fireplace to keep you warm on those cold nights. The kitchen is perfect with plenty of counter space for cooking and baking, and you will love the breakfast bar and dining area. The owner’s suite is spacious with multiple closets, an en-suite bath boasting double vanities, a soaking tub to melt the day away, and a separate shower. Enjoy sitting on your deck taking in all the sounds of nature and grateful for all the privacy. Plus the detached oversized 1 car garage and two-car carport are a bonus making this home in the country the one! For more information on 20233 Mountain Track Road, Click Here!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available properties, please visit our website licatagroup.com
Millennial homebuyers approach home purchases very differently from their parents and grandparents. A modern generation is busy, environmentally conscious, and tech-minded. However, some current housing preferences echo past generations, such as updated bathrooms and kitchens. Still, they have many other features on their priorities list. Here are the home features that millennial homebuyers want.
Low maintenance
Nowadays, people are busier than ever before, so they don’t want to spend their free time keeping up with home issues. More and more millennial homebuyers are looking for homes that require little or no maintenance and home amenities that are quick, efficient, and long-lasting. Popular low maintenance materials are hardwood floors, granite countertops, etc. This generation requires something that looks modern and something easy to wipe up and mop down quickly. Many millennials are families with young children, so they need something convenient more than anything else. They will look for a new roof, new windows, and high-efficiency HVAC systems.
Updated kitchen and bath
Brand-new fixtures in the kitchen and bathroom are essential for millennial homebuyers. Many of them have limited budgets, so their savings will go towards a down payment and furniture. That’s why home updates are critical to them. They need a sense of comfort, but they also opt for “trendy” designs. A kitchen that fits a millennial’s needs is stylish and updated with integrated appliances. Two sinks, lots of cabinets, and a big kitchen island for food preparation and serving will catch the eyes of modern homebuyers.
Renovated kitchens and bathrooms not only catch the eye of a young homebuyer, but they are also among features that make the home sell faster, in case they decide to do it later.
Renovated kitchen and bathroom are among the home features that millennial homebuyers want.
Modern and smart amenities
Millennials look for tech-savvy homes and high-functioning amenities, such as dishwashers, washers, and dryers. Home automation and voice devices pique their interest. They are a generation that grew up with technology, and it will always be an integral part of their lives, integrated into their homes. The ability to interact with a home from a smartphone is becoming common. Automated security, smart heating and cooling, and smart lights are among the home features that millennial homebuyers want.
Energy efficiency
Millennial homebuyers focus on environmental sustainability and decreasing energy costs. That’s why green homes are so popular among modern homebuyers. Energy-efficient features are very important for an environmentally conscious generation. A Home with energy-efficient appliances, double-paned windows, LED lights and a programmable thermostat is something they wish for. They are ready to pay more because they know energy-efficient features save their money in the long run. They will eventually save a lot on utility bills.
Home office
Working from home is increasingly common, so working from the kitchen table is not good or a long-term solution. Millennial homebuyers seek designated office space, where they can be concentrated on work tasks, away from any household distractions. Professional couples who make a living from the home list a home office among their top priorities. Even if the homebuyers don’t work from home, in the well-connected world we live in, it’s good to have a nice and comfy place to sit and focus on daily chores or just relax. Some prefer to play computer games, some will pay the bills online, and everybody writes emails and video chats with their friends. That’s why a home office is a crucial part of what young professionals are looking for in a house.
A home office should also have enough adequate outlets to power up necessary mobile devices. Good wireless service and the internet are an absolute must when it comes to home features that millennial homebuyers want.
Millennial homebuyers seek designated office space as more and more people work from home.
Open concept
In recent years open spaces have become prevalent features – a kitchen well-connected with other areas instead of a formal dining room. Modern home buyers want to cook, socialize and watch TV or listen to music, all at the same time. An open concept is a trend that will continue to be popular for generations to come because of the modern way of living. Open spaces encourage family gatherings and entertaining; they are both social and practical.
Laundry Rooms
Millennials wish to have a separate, well-defined laundry room, with some shelving or a folding table. No more stumbling over piles of laundry. Home laundry is one of the top home features for 2021.
Storage matters
Millennials are looking for separate storage spaces, such as:
Spacious closets
A spacious garage
A walk-in pantry
Rooms need to have space for some creativity and expansion; they need to be multi-functional. If a millennial is not satisfied with current home conditions and has enough money for some updates, they will decide to do some basic renovations to make a new home more up to their needs and lifestyle. If the house doesn’t have as much storage space as it should, a homebuyer may decide to make some changes.
Before renovations, renting a storage unit is an excellent option to keep their belongings out of the way. No matter how minor the remodel, it will imply some dirty work and require clear space. So, they can simplify the process by doing this. While their items lay safely in a secured storage unit, the renovation process can go smoothly and stress-free.
Outdoor spaces
Functional outdoor living spaces rate high on the homebuyer’s priorities list. A simple patio may not be enough for a modern generation’s needs. Today’s homebuyers wish to have a pool, outdoor fireplace, comfy lounge chairs, and even a cozy hammock where they can take an afternoon nap or read a good book. This trend is popular both for the cities with mild weather as it is for those who have only a few precious summer months.
Homebuyers want to have functional outdoor living space for relaxing with their friends and family.
Pet-friendly home
A large number of millennials own at least one dog or a cat. They are looking for houses with backyards, sturdy fencing, and shade trees where their pets will be happy.
Enough space for a family
At the top of most millennials’ list of must-haves, you will also find – enough space for starting a family. They want their home to be comfortable, safe, and kid-friendly.
Dealbreakers
There are few dealbreakers for millennials when it comes to buying a home. Those are usually the features that come with the risk of needing more cash to fix later. A list of dealbreakers includes leaky roofs, foundation issues, or mold, pest, and insect infections. That’s why a home inspection is crucial to make the right choice when buying a home.
Conclusion
Home features that millennial homebuyers want are essential to the real estate industry. So, when marketing your home to millennials, think about all these factors. Understanding homebuyers’ needs may significantly help someone sell the house quickly, which is in everybody’s interest.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available properties, please visit our website licatagroup.com
Welcome to 111 Fairway Drive, located close to the main gate and overlooking the 18th hole will make this the one. You’ll love the gleaming hardwood floors, open floor plan, and updated finishes! The living room flows effortlessly into the dining room boasting a cozy fireplace and built-ins. Imagine an upgraded kitchen that provides room to spread out. The spacious and inviting owners suite with updated en-suite bath is sure to delight. Additionally, there is flex space that will make a perfect office, classroom, or craft room. That is not all… you will enjoy relaxing the days away in the sunroom, screened porch, or deck while enjoying the view. If you’re in the mood for a great breakfast or lunch, Fareways Cafe is just a few steps away as well as the Golf Pro Shop. For more info, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
