Buying Real Estate in Reston

Finding homes for sale in Reston is not a problem, because the real estate market is always active and full of opportunities. Here are some answers to the most frequently asked questions about buying a real estate in Reston.

What credit score do I need to buy real estate in Reston?

You will need a good credit score to get the mortgage that will allow you to buy a house. The reason for this is not that Reston properties are expensive, but that since the credit crunch of 2008 financing companies – those based in Reston included – are less willing to lend money to borrowers without near perfect credit.  A few ‘glitches’ are acceptable but in general you will not want to have any late pays to your current mortgage company or if renting late payments for rent due the landlord – yes, they do check with your landlord for the past two years.

How much money do I need to buy properties in Reston? 

It all depends on whether you want a condominium, townhouse or a house, as well as on the size of the property, its location, and obviously, its condition. Many people who relocate to Reston from Washington find the property prices affordable. That said, you cannot know how much money you need to buy or rent a house or apartment until you get in touch with a lender a good Reston realtor, preferably one who has lived in the area for many years and knows it well can recommend a lender to help and advise you.

Do I need a down payment to buy houses in Reston?

You almost always do, unless you are a veteran and qualify for no money down VA financing. Owners of properties for sale in Reston like to see some type of down payments.  It helps with the acceptance of your contract and also, in my opinion, the more money in the downpayment the easier it seems to be to sail thru the loan approval process.   In conclusion, being able to pay down at least part of the property price will help you secure a better deal.

Do I need a Reston realtor who knows the area?

Reston is a place where real estate opportunities abound. We offer small to large condominiums, small, medium and large town and patio homes and single family homes in all shapes and sizes and price ranges.  But these opportunities, at least the most notable of them, are not easily spotted. An experienced realtor, who has spent decades in Reston, knows the area well enough to differentiate between good and seemingly good real estate opportunities. Getting a Reston realtor will ultimately help you find the best possible property for your situation, and usually to buy it for a better price. 

If you’re interested in buying real estate in Reston, contact a realtor who knows the area and who can help you find a Reston property that you will be proud to own. For best results, choose a realtor who has himself lived in the area for many years.