Frequently Asked Questions for Buying a Loudoun County Townhouse

1. How much are my closing costs?

Closing costs vary between 2-3 % of the selling price of your Loudoun County townhouse. You’ll want to budget for this expense when preparing yourself to make a townhouse your new home.

2. Will I be able to afford my new townhouse?

You will definitely want to contact a mortgage lender and become pre-qualified for a home loan. If you would like to learn how much of a loan you qualify for today, simply send an email to Prequalification@VirginiaIsForTownhomes.com and we will recommend a preferred partner who can help you right away. What could be easier?

3. Why am I buying a townhouse?

Townhouses offer a unique entry point into home ownership. In Loudoun County, single-family homes sell for 30% more per square foot than townhouses. Buying a townhouse for a home also offers homeowners a more simplified approach to home ownership. When people purchase a townhouse, they are only buying the actual infrastructure of the home . While maintainance of the roof and gutters are the townhouse owners' responsibility, the common areas, parks, playgrounds, swimming pools, streets, parking lots, and some yard maintenance (depending on the H.O.A.) are responsibilities of the H.O.A. This type of hassle free homeownership is an obvious benefit to many residents.

4. Where am I going to get financing?

The best place to begin your mortgage shopping is with your current financial institution. Make sure you ask you REALTOR® what questions you should be asking your mortgage lenders during the interview process. You will want to shop around for a good rate on a home loan.

5. How will I know if there are good schools for my kids?

Choosing a home in the right school district is an imperative part of your move. Make sure you find out detailed information about the schools in a specific area - before you begin your Loudoun County townhouse search.

6. What does the entire home buying process include?

Buying a home involves a lot of steps. Browse the buying process page to ensure there are no surprises.

7. Is this townhouse purchase a good investment?

Consult with your REALTOR® to make sure you a familiar with real estate trends for area you are interested in buying a townhouse. You will also want to make sure that other properties of the same like and kind are selling for a similar price.

8. How can I be sure I got the “best buy”?

Do your homework and listen to your REALTOR®. Make sure you have looked at other comparable units and understand the reason for the asking price. Also, continue to ask questions and make sure you have a good understanding of the asking price for the townhouse you are interested in buying.

9. Where can I go to get all of my questions answered?

The team at VirginiaIsForTownhouses.com is dedicated. Contact us today to have your questions answered accurately and promptly.

10. When is the best time to buy?

When you are financially capable and can afford to purchase a home. Find out today by becoming pre-qualified.

11. What are my taxes & how are they assessed?

Generally speaking, for Loudoun County, you can expect to pay .89/ $1000. When you buy a home, the seller pays for the taxes until the end of the year. You will be responsible for the next year’s taxes. You may use your mortgage to incur for tax payments. Simply notify your lender before the closing on your property.

12. What percentage of the listing price should I offer for the townhouse?

Make sure you work closely with your REALTOR® to find out how long the unit you are interested in has been on the market and if there have been any price reductions to the original asking price. The recommended amount varies between 2-5 % below the asking price.