Will you buy your first home in 2017 or would you like to at least know how to get started? If you’re like most DC area residents who rent, your costs of living have been going up in the area. Rental rates have been increasing over 3% per year in the area, depending on if you rent from a management company or an individual landlord.
“If you’re in the DC area and do not own a home, now is the time to start preparing. Rents are going up faster than a lot of people’s incomes,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “Plus, the super low mortgage rates from the last year have been increasing. Rates are still low at 4.16% for a 30 year fixed rate mortgage.”
UrbanLand Company offers twice weekly free Home Buyer Workshops for local home shoppers who want to understand and navigate the pathway to ownership in the DC/MD/VA marketplace. Tuesday nights at 5:30pm is our After-Work Edition Workshop, with a fast-format introduction to opportunities and challenges facing first time buyers shopping in the $200,000 – $600,000 price range. Saturday mornings at 10am is our popular $0 Down Home Buyer Workshop series. Location on both sessions weekly is 913 Florida Avenue, NW.
Here’s the current calendar of events for the rest of December and January.
You may not be aware, but due to higher housing prices and costs of living in general, DC, Maryland and Virginia all offer a variety of home buyer and mortgage assistance programs. Some programs issue grants for down payments, which is virtually free money as you do not pay it back. Here’s some of the programs that we regularly speak about and answer questions on in the Workshops:
The UrbanLand Company Workshops group of agents have successfully sold over $41 million in DC area first time home buyer homes since 2014 alone. It’s over 125 condos, row homes, single family homes, turnkey renovations and fixer uppers ranging from the $200,000’s to the high $500,000’s. “Many come to us for our knowledge of the financing programs, and leave with an UrbanLand Company agent leading them through to a successful buy,” said Gerard. “We’re happy to help you with your purchase, whether you end up using low down payment programs or not.”
Take a look at some of the recent homes that Workshops attendees have purchased & settled on.