For most people, buying a home is one of the biggest investments they’ll ever make. If you’re planning to purchase a home, your budget likely includes the down payment and monthly mortgage payments—yet many buyers, particularly first-time homeowners, find their budgets stretched by unexpected costs. In fact, according to a survey by ConsumerAffairs, 44% of recent home buyers said they had already spent more than they’d planned, with the average over-budget amount exceeding $10,000.
While record-breaking home prices over the past several months have contributed to this trend, new homeowners often find themselves surprised by unexpected costs, such as the following:
Property taxes. Currently, the average property tax rate across the U.S. is 1.1% of a home’s assessed value, but this amount can vary greatly based on location and average home prices.
Closing costs. The upfront costs of buying a home include more than just the down payment—at closing, you can expect to pay costs ranging from 2-5% of the home’s value. These may include title insurance, mortgage origination fees, surveys, and more depending on your market and lender.
Utilities. For many people moving from an apartment or rented house to a home of their own, the cost of all the utilities they need can be surprising. From the basics like water and electricity to items that you may or may not need depending on your preferences and where you live (such as cable, sewer, and trash collection), utility bills can add hundreds of dollars a month to your home ownership costs.
Insurance. In order to take out a mortgage, you’ll need to provide your lender with proof of homeowners insurance, which will cover certain damage to your home and the items within it. This necessary coverage will cost anywhere from several hundred to several thousand dollars per year.
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 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, 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.
A local celebration of our freedom in Orange, Virginia for local residents and visitors! This event features live music, a Touch-A-Truck, kid’s activities, and of course FIREWORKS!
This event is absolutely FREE and the gates will open at 6pm sharp. There will be donations accepted for parking by OCHS Football. Parking is limited, please arrive early. Fireworks are scheduled to start once it gets dark. Bring picnic blankets and lawn chairs. Alcohol is prohibited and pets must be on a leash at all times. Come hungry! Featured food vendors for your stomach’s pleasure will be Barbara’s Soulfood, Buffalo Wild Wings, B-Radd & Honey, R U Freak’n Hungry, and Kona Ice of Culpeper.
Don’t miss this event on Friday, July 1st at Booster Park, 1177 Bloomsbury Rd, Orange VA 22960 (behind the Orange County Airport). For more info visit their website or call 540-672-5435.
This event is brought to you thanks to the support of the following businesses and organizations: the County of Orange, the Town of Orange, the Town of Gordonsville, Somerset Sod Farms, Rappahannock Electric Cooperative, 103.1 WJMA, Mason Insurance Agency Inc, Reynolds GM Subaru, Piedmont Power, Skydive Orange, Altman Tire & Auto Sales, Mr. & Mrs. V. Rea Jones, Cowan Realty, and Orange Tire Inc.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The question is how much is it worth? 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 contacting Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Even if you locate a condo that precisely suits your budget and meets your requirements, there is sometimes a lingering sense of insecurity that will make you wonder if that condo is really “the one”. Believe it or not, you’re not alone as this is quite common and with good cause. After all, you don’t want to make a costly error while purchasing a condo, especially if you’re a first-time homebuyer. It’s not only your biggest financial investment, but you’ll be living in it for years. That’s why it’s important to recognize signs you’ve found your perfect condo. Further in this post, you’ll find out what you should pay attention to when shopping for your new condo.
Clear signs that say you’ve found the perfect condo
As you undoubtedly know, finding “the one” is difficult, especially when you’re in the process of buying a home. Studio or one-bedroom apartment? Modern finishes or natural light? Hardwood or tile floors?
Your real estate agent will present you with many great options, and you’ll avoid feeling overwhelmed if you know what signs to pay attention to.
Finding the condo of your dreams might be difficult with so many options available. Fortunately, there are a few telltale signals that you’ve located your perfect condo. Continue reading, and you might realize that you have already found “the one.”
It gives out a homey feel
The first thing to pay attention to when looking for a condo is the way it makes you feel. You want to find a place you feel comfortable and homey, especially if you’re moving to a new hometown and didn’t get a chance to familiarize yourself with the place. Spending time in a new condo that already feels like home will make this transition easier for you.
The proper condo will entice you in and make you feel at ease. It will instantly make you want to relax in the living room or have a conversation with your real estate agent in the dining room. Going into the bathroom is not at all weird. Indeed, you may have caught yourself opening cabinets or admiring the room. The condo simply feels comfortable and homey. Could this be the right one?
It fits your budget perfectly
No condo is right for you unless it perfectly fits your budget. So when considering which condos to take a look at in person, start by reviewing your budget and knowing how much you can afford. It doesn’t make sense to invest in an expensive home with all the latest amenities if you can’t afford it. It simply doesn’t fit your lifestyle.
To avoid disappointments, scratch off any alternatives on your list that are way out of your price range, as none of those will be the right condo for you.
Don’t be disheartened if you happen to find a gorgeous place that’s just over your budget that you simply adore. You still have a few choices. For starters, see if you can work out a better price. Or decide to decorate on a budget and invest in cheaper furniture. You might be able to cozy up the place easily while staying within your budget.
The condo sets the bar for all other condos
When you find the perfect condo, you’ll realize that you keep returning to it throughout your search. You go to one open home and admire the living room and kitchen design, but you notice that the layout isn’t as excellent as the one you saw earlier. That condo set “the standard.”
It’s in a perfect location
If you’ve found a condo in a fantastic location that perfectly suits your lifestyle, it could be that you’ve found “the one.” If you’re a homebody who enjoys peace and quiet, for example, you’ll probably prefer to look for apartments in more suburban locations.
On the other hand, if you prefer to be in the thick of things, a thriving downtown neighborhood can be right up your alley. For the added convenience of having restaurants and entertainment within walking distance, you might be ready to compromise on things like assigned parking or square footage. So if you feel like you’ve found an ideal location, perhaps you‘ll overlook minor flaws and realize that you’ve found your perfect condo.
Your perfect condo is just the right size
The most amazing condos aren’t always what you need right now in your life and don’t always fit your lifestyle. It’s easy to get caught up in the thrill of discovering the perfect apartment in the nicest neighborhood, but don’t forget about the space.
On the other hand, if you found a condo that’s just the right size and with a great layout, it might be worth sacrificing and moving to a slightly less desirable location. It can be tough to find a condo that ticks all of your boxes. So if you’ve found a place with the right size and within your budget, don’t think twice about it.
It simply feels right
Sometimes, you simply know that something is right for you. If a condo appeals to you right away, it’s an indication that it might be the right one for you. Try to imagine yourself living your daily life in that place. Is everything going to work out, or will you have to make some adjustments to your daily routine?
When you find the right condo, your gut will make sure to send you a sign.
If just the thought of living there makes you happy and your life seems easier, it’s probably the one. However, don’t let love blind you to the price tag. Remember, it’s critical to ensure that your new home fits into your budget in the long run.
Pay attention to these signs, and you’ll know you’ve found your perfect condo!
And that’s it—it all comes down to listening to your gut and paying attention to those subtle signs. Of course, the safest way to go is to get in touch with an experienced Realtor® who’ll guide you on your real estate journey and make sure you’ve found your perfect condo.
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Buying property is a significant investment, and you want to be sure you have found the right one. Read on for signs you’ve found your perfect condo.
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 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, 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.
We will be collecting donations for the Orange County Children’s Toy Box now through December 4th, so that we may help make Christmas miracles happen for less fortunate families. Should you wish to donate a gift, you can do so at our office, 36111 Goodwin Drive, Monday – Friday, 9:00AM – 5:30 PM. Other drop-off location include the LOW Clubhouse, Fareways cafe in LOW, Lake of the Woods Lions Velona Building (only on 11/7 & 11/14, 9 Am – 12 PM), Coldwell Baker Elite and at the Lioness Book Sale at the Ferris Building (Only on 11/28 from 8:30 AM – 1 PM). Suggested items are family games, sporting equipment (soccer balls, basketballs, etc), art supplies, and any other age-appropriate toy (through age 17). Monetary donations of cash/checks are also accepted; if writing a check, please make it payable to Orange County Children’s Toy Box. Nothing warms your heart more than making a child happy, so please consider helping us put smiles on little faces this Christmas!
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.
Once you’ve found the perfect home and secured the loan, all that’s left to do is start chipping away at those mortgage payments…right? In actuality, there are a handful of other, often-overlooked expenses that come with buying a home, but as long as you know what you’re getting into, they’re plenty manageable.
Take a look at our comprehensive list of all the costs of buying a home.
One-Time Payments & Closing Costs
Closing Costs
For buyers, closing costs are typically low and range from 2-5% of your purchase price. A lot of these costs are one-time expenses, and totals can vary from state-to-state.
If you want a better idea of what closing costs could be for you, check out this helpful guide on the average payments for each state.
Miscellaneous Fees
There are quite a bit of one-time fees bundled into your closing costs, but most of them are pretty inexpensive. Some of the most common expenses include the home inspection, appraisal, credit report, deed recording, land survey, notary fees, title insurance, and document prep fees.
Recurring Payments
Mortgage Payments
Mortgage payments are the most obvious cost when buying a home. These are your predictable, monthly payments decided by both the final price of your home and your down payment—in addition to a few other bundled costs. A larger down payment means a smaller mortgage payment, and it’s a good idea to pay this off quickly, since it will accumulate interest.
Property Taxes
Property tax payments don’t go towards just one thing—they actually cover quite a bit, like road construction, community maintenance, public works, and local government salaries. The exact amount you’ll pay in property tax is calculated by the county based on your home’s value, and the rates tend to rise and fall over time. Many buyers pay their property taxes through an escrow account set up by the lender.
Homeowner’s Insurance
It’s better to have insurance and not need it than need insurance and not have it, so homeowner’s insurance is pretty crucial to home owning. While it’s almost always required when you get a mortgage and then bundled into your monthly payments, be sure to double-check that you’re covered.
Private Mortgage Insurance
If you can’t afford a 20% down payment on your home, you’ll have to pay PMI as a way to ensure that the lender won’t go under if you default on your loan. You don’t have to pay PMI forever—it ends once you pay off 78% or more of the principal amount—but until then, expect to pay up to 2% of your loan amount annually.
HOA Fees
Moving to a neighborhood with an HOA? Your dues can range anywhere from under a hundred dollars to over a thousand, but they come with perks like landscaping and exterior maintenance, and some even include added benefits like swimming pools and fitness centers. Not all neighborhoods have an HOA, but your agent can tell you what your payments will be if yours does.
Utilities
Lastly, utility fees can come as a surprise to new homeowners who are used to renting. Depending on the size of your home, you can expect to pay a few hundred dollars per month for water, electricity, heating and cooling, and trash services. If you’re curious what your utility bills might look like, just ask your agent, and they can likely secure a few statements from the past owners.
Ready to Make an Offer?
When it comes to buying a home, the most important thing you can do is be prepared. While there are a handful of costs to keep in mind, the satisfaction of calling a place your own is well-worth it in the end.
Are you ready to get started on your home-buying journey? With years of professional and local experience, our team knows all about navigating the expenses that come with buying. Give us a call today at (540) 388-2541 to get a better idea of your costs, and let’s get started!
Welcome to 224 Harpers Ferry! Offered at $550,000!
The best was saved for last! Here’s your one and only chance to grab the last truly exceptional waterfront lot in amenity-rich Lake of the Woods! Offering 265 ft of water frontage ideally situated, you’ll capture spectacular sunrises and sunsets. Spanning the main lake as well as the cove, the best of both worlds awaits! Golf, pools, stables, fitness center, Clubhouse dining & so much more!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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.
Build your dream home here on a fantastic lot in amenity- rich Lake of the Woods, VA. You deserve the lifestyle that LOW offers: dine on the dock overlooking lake, play a round of golf, take a trail ride at the Equestrian Center or take a dip in a pool. You will love how much there is to do in this community.
Community Features Management: Owner/Self-Management Bar/Lounge, Basketball Courts, Beach, Boat Ramp, Club House, Common Grounds, Fitness Center, Gated Community, Golf Club, Golf Course, Jogging/Walking Path, Horse Trails, Lake, Meeting Room, Picnic Area, Pier/Dock, Pool (Outdoor), Putting Green, Recreation Center, Riding/Stables, Security, Soccer Field, Boat Slip, Gift Shop, Tennis Courts, Tot Lots/Playground, Water/Lake Privileges Management Included, Master Insurance Policy Included, Pier/Dock Maintenance, Reserve Funds Included, Road Maintenance Included, Tot Lot(s)/Playground Included, Security Gate Included, Snow Removal Included, Security Included, Pool(s) Included Covenants, Restrictions School Information Elementary School: LOCUST GROVE High School: ORANGE Middle School: LOCUST GROVE
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 homeworth?” 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.
The time has come… you’ve been searching for your dream home and you’ve found it! You’ve completed the grueling loan process and are ready to close and move in right away! It has the right amount of bedrooms and baths that you feel are perfect for beginning to start or continue to grow your family; have you stopped and considered one thought…”how will this affect my fur-friend?” That loving animal-companion that has been there through each of your apartments or room-sharing rental homes. There are many questions that you may want to start thinking about after the initial thought… Will he/she have more territory to protect and feel overwhelmed? Will they be lonely by themselves if no-one is home anymore to give them attention they had grown accustomed to? Will they have a fenced in yard now to roam free, when they may not have before? Moving is a big deal and should be treated as such, even for non-humans! When you buy your first or even your second home, it’s because you plan on staying there for quite a while and want something secure and stable compared to moving apartments once a year due to increased rent or maybe some not-so-nice neighbors. Whatever the case may be – you want to feel safe – but your fur-friend does too! Pets can often get stressed with the ongoing commotion of packing up boxes and seeing regular household items “disappearing” from their normal places they belong. This new stress and change can cause fear – so be cautious – when opening doors while going in and out for the removing of completed packed items; chances are higher your pet(s) will take off to get out of the confusing situation. In your new home, as much as we want to let them run around and check this new building and environment for them, experts say it’s better to introduce them to one room at a time, at a slow place. This allows them to adjust properly compared to feeling overwhelmed. Help your pet feel more secure by placing their food & water bowl, bed and toys in a place where they will more than likely remain. Animals really like stability and routine; so they are eagerly willing and ready to learn their new routine and begin their adjustments to the new environment in their new home with you! Have you ever moved with a pet before? How did they react? Did they take it well or did they have a hard time? Have they fully adjusted now? Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, “what is my homeworth?” 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.
It’s a fact: You feel better when the space around you is organized and free and clear of clutter. There are some easy steps you take to tackle getting the job done.
Include everyone in the house in the project. Talk about the plan and how to execute.
Divide and conquer: Pick small sections of a room and work that till complete, then move on. It will be less overwhelming that way.
Clean for 10 minutes every day. Pick your time and see what you can accomplish in small burst.
Unpack all bags that come into the house immediately.
Divide all unwanted stuff in 4 piles or boxes: Keep-Sell-Donate-Trash
Everything has a home inside and outside. Make sure it goes there!
If family members do not want your treasures, find out which organizations could really use them and donate.
Pare down on paper and photos. Sort through the piles and shred what you can.
Be realistic about your belongings. If you will never wear it, use it or love it again, get rid of it!
REMEMBER: YOU CAN’T TAKE IT WITH YOU!!
There are many resources around that can help with projects like this. Let us know if you have any questions and we will be glad to help! Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, “what is my homeworth?” 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.
James Madison Belle Grove Foundation is hosting a New Years Eve Masquerade Casino Night on Monday, December 31st from 6pm to 1am! Where? None other than the birthplace of President James Madison: Belle Grove Plantation (9221 Belle Grove Dr, King George VA 22485). Ring in the New Year the right way at this entertaining, formal event! Suit or Tux required for the men and formal or cocktail dresses required for the ladies, and your masquerade mask of course! (The Belle Grove Plantation does ask that ladies not wear heels or spiked shoes as their historic floors will get damaged by them.) Now the only question left is, will you make your own mask or purchase one? General admission tickets are $75 per person and include 2 drink tickets. VIP admission tickets are $95 per person and include unlimited drinks. There will be a cash bar available and heavy hors d’oeuvres for all. Purchase your tickets today, before they are sold out! Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, “what is my homeworth?” 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.
