Sponsored

Just Listed in Arlington: November 15, 2024

By Sponsor

Just Listed highlights Arlington properties that just came on the market. This biweekly feature is written and sponsored by Coral Gundlach Homes.

Hello Arlington!

Coral Gundlach here with Coral Gundlach Homes in Arlington. I’ve been an Arlington homeowner since 2001 and a Realtor since 2004. I love this real estate market, even though it has its challenges.

Well, the election is behind us at last. Mortgage rates are steadily rising, buyer showings are down and there was a slight increase in purchase contracts. For the week ending November 10th, showings in Arlington were 623 compared to 677 the week prior and purchase contracts ticked up slightly from 47 to 52. 

Here are the numbers as of the time of writing: Friday, November 15 at 11 a.m.

This week we will feature the highest and lowest between any categories. Highest is a detached home, lowest is a condo. 

  • All active listings in Arlington: 280, exact same as two weeks ago
  • New Listings in the past week: 53, up from 40 two weeks ago
  • Under Contract/Pending in last week: 32, down from 44 two weeks ago
  • Median Days on Market for Active Under Contract: 18, down from 22 two weeks ago
  • Median Days on Market for Pending: 15, up from 6 two weeks ago
  • All active detached listings: 94, down from 98 two weeks ago
  • New active detached listings: 12, down from 16 two weeks ago
  • All active townhouses, fee simple: 28, up from 25 two weeks ago
  • New active townhouses, fee simple: 10, up from 3 two weeks ago
  • All active condos/co-ops: 155, up from 152, two weeks ago
  • New active condos/co-ops: 29, up from 19 two weeks ago

Thirty-eight total properties closed in the last week, down from 41 two weeks ago. The median CDOM was 20, down from 22 two weeks ago, and the median original list price to sales price ratio was 98.6% and the average current list price to sales price ratio was 99.2%, 

The highest priced new listing is a 8000 square foot single family home in 22207’s Arlingwood neighborhood. It was built in 2001, sits on 31391 square foot lot — nearly 3/4 of an acre. Listing price is $3,200,000.

The deal of the week is a studio condo in 22204’s The Carlton condominium building. It is remodeled and 546 square feet. Condo fees are $550 a month and include all utilities. It is listed for $169,950.

Contact Coral Gundlach Homes today at (703) 200-3631 or email [email protected] to talk more about buying or selling Arlington real estate.

This week’s Just Listed feature:

2520 S. Walter Reed Drive #6, Arlington VA, 22206 — $750,000

2520 S. Walter Reed Drive #6

This week’s featured new listing is delightful 2520 S. Walter Reed Drive #6 in 22206. This 3 bedroom, 2.5 bath townhouse condo in S. Arlington’s Windgate community. This is the largest model offered in Windgate, an end unit, with window and light on two sides. It includes an unfinished basement, stylish kitchen and baths, hardwood flooring and a spacious patio that backs to a park-like common area. It is listed by Renata Briggman of KW Metro Center and is open Friday from 5-6:30 p.m., and Saturday and Sunday from 2-4 p.m.

Want to see more Just Listed properties? Interested in an Open House this weekend? We’re happy to show them to you privately! Contact Coral Gundlach Homes today.

Please note: While Coral Gundlach Homes provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.

How can Horizon Business Brokers help you?

By Sponsor
Dustin Zeher, CBI

Your next opportunity is just on the horizon!

At Horizon Business Brokers, we specialize in navigating complex transactions, ensuring smooth negotiations, and maximizing value for our clients.

Founded in 2006 by Dustin Zeher, Horizon Business Brokers is based in Northern Virginia. Dustin is a Certified Business Intermediary (CBI) and President of the Maryland Business Brokers Association. He is also a board member of the Carolinas-Virginia Business Brokers Association. Horizon has sold nearly 400 businesses for business owners from all parts of the D.C. metro area.

What is a Business Broker?

Business brokers act as intermediaries between buyers and sellers of businesses and work to ensure mutually beneficial outcomes for both parties. They are vital in the sale and acquisition process, offering expertise in valuation, negotiation, and transaction management while confidentially connecting buyers and sellers of privately held businesses.

Today business brokers have access to advanced technology and use sophisticated tools like data analytics and Artificial Intelligence (AI) to provide more accurate market insights and valuations, helping clients make informed decisions. They manage complex deal terms and ensure that the process is smooth and efficient, ultimately helping sellers maximize their returns while also fostering positive relationships with buyers to ensure they are getting a great business at a fair price.

Frequently a business seller wants to maintain a level of confidentiality, so hiring a broker enables them to maintain discretion when sharing information as the broker will be the first point of contact during the sale process.

The broker will acquire information from potential buyers prior to releasing any sensitive details about the business that is listed for sale to ensure buyers are professionally and financially qualified and to obtain their confidentiality. A business broker also creates sales and marketing materials to highlight the business and its strengths and opportunities for growth, while also managing the marketing and advertising efforts of the business.

Using a number of different platforms, a business broker will reach out to their internal database of buyers as well as their professional contacts to let them know the business is for sale, all in a confidential and effective manner. When using a business broker, there is a higher probability of a sale versus trying to sell the business on your own, and more often than not, a broker is able to sell the business for a higher price in a shorter time period.

An overwhelming majority of small business sales are private transactions so there is not a publicly accessible database of final sale prices from recent years. A broker will be able to provide a business owner with a reasonable asking price based on business performance, the value of any tangible assets, intellectual property or patents, goodwill, and inventory. Many brokers offer business valuation services to determine a fair market value and the most probable selling price of a business.

If an offer is accepted, the broker will assist the buyer in conducting due diligence to verify that what has been presented in the offering materials is accurate, and to ensure that the seller is only sharing information that is absolutely necessary and will not be detrimental to the operation and sale of the business. A knowledgeable broker will also be able to provide guidance for working with landlords to transition the lease to a new party, if needed, and to pre-qualify the business for an SBA backed loan to help expedite the financing if necessary. An experienced broker will also likely have established relationships with attorneys, accountants, and bankers who may be involved at various phases of the sale process to assist both the buyer and the seller.

Before a business owner decides to engage with a broker, they should do research and interview multiple brokers to see which one best fits their goals. The average time to sell a business is roughly 6-12 months, but there are times when it takes longer for a variety of factors so you will want to make sure your broker is someone you trust and will enjoy working with as you navigate the process.

Whether you’re selling your business or looking to grow through acquisition, buying your first business, or having your business valued, partnering with a reputable business brokerage firm can make all the difference.

Contact us today for a complimentary consultation to explore how we can help you achieve your business goals!

Dustin Zeher, CBI
Founder and Principal Broker/M&A Advisor
Horizon Business Brokers, LLC.
Office: 703-910-7384
Cell: 571-437-5135
[email protected]
www.horizonbrokers.com

Contact Horizon Business Brokers Today!

Arts Focus: Arlington’s bounty of arts & culture for the holiday season!

By Sponsor
1/4

This column is sponsored by Arlington Arts/Arlington Cultural Affairs, a division of Arlington Economic Development.

’Tis the season for gathering with family and friends!

If you’re looking for ways to entertain your guests or explore Arlington’s vibrant arts scene this holiday season, we’ve got you covered. With events running through December, Arlington’s Winter Arts Highlights offers a comprehensive guide to arts and cultural happenings across the county, ensuring you’ll find something for everyone.

Arlington, together with D.C. and Alexandria, ranks third among the most arts-vibrant communities in the U.S. as evaluated by the National Center for Arts Research’s Arts Vibrancy Index. This ranking assesses vibrancy by analyzing supply, demand, and government support for the arts across 900+ communities. Since the index’s debut in 2015, Arlington has remained a top-ranked community for the arts, bolstered by a creative mix of visual and performing artists.

This high ranking was achieved because of Arlington’s exceedingly talented and creative array of visual and performing artists.

This winter, their offerings include soulful cabaret evenings at the Tony Award-winning Signature Theatre (through November 24); an opportunity to shop local at LAC Studios Holiday Show and Sale (December 7); holiday performances by The Arlington Philharmonic Brass Quintet (December 7-8; 14-15); Encore Stage & Studio’s staging of Disney’s The Lion King, Jr. (through November 24); Jane Franklin Dance’s performances of “December at TOTR” (December 14-15); and an Artist Talk and Tour of current exhibits at Museum of Contemporary Art Arlington (November 22).

This winter, Arlington’s vibrant cultural calendar includes unique events for all ages. Below are some featured highlights, with a full schedule available on the Arlington Arts’ Winter Arts Highlights page.

(more…)

Just Reduced Properties in Arlington: November 13, 2024

By Sponsor

Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!

Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.

As of November 11, there are 123 detached homes, 35 townhouses and 140 condos for sale throughout Arlington County. In total, 16 homes experienced a price reduction in the past week, including:

3644 N. Vermont Street

Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.

CMIT Solutions: Achieving success with cybersecurity compliance in small to medium businesses

By Sponsor
CMIT Solutions

In today’s digital age, cybersecurity compliance is crucial for small to medium businesses (SMBs) to protect sensitive data and maintain customer trust. Discover key strategies that SMBs can implement to achieve success in cybersecurity compliance.

Cybersecurity compliance involves adhering to laws, regulations, and standards designed to protect digital information. For SMBs, achieving compliance can be challenging due to limited resources and expertise. However, with the right approach, SMBs can effectively safeguard their data and ensure regulatory adherence.

Key Strategies for Cybersecurity Compliance

  • Risk Assessment and Management

SMBs should start by conducting a thorough risk assessment to identify potential vulnerabilities. This involves evaluating the likelihood and impact of various cyber threats. Once risks are identified, businesses can implement appropriate measures to mitigate them.

  • Employee Training and Awareness

Human error is a significant factor in cybersecurity breaches. Regular training programs can educate employees about best practices, such as recognizing phishing attempts and using strong passwords. Creating a culture of cybersecurity awareness is essential for compliance.

  • Implementing Robust Security Measures

SMBs should invest in robust security measures, including firewalls, antivirus software, and encryption. Regular updates and patches are crucial to protect against emerging threats. Additionally, businesses should establish protocols for data backup and recovery.

  • Compliance with Regulations and Standards

SMBs must stay informed about relevant regulations and standards, such as the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS). Compliance with these standards not only ensures legal adherence but also enhances customer trust.

  • Regular Audits and Monitoring

Continuous monitoring and regular audits are vital to maintaining cybersecurity compliance. SMBs should establish processes for tracking and analyzing security incidents. This proactive approach allows businesses to identify and address potential issues before they escalate.

Contact CMIT Solutions of Arlington

Helping your business get compliant is one of the core services offered at CMIT Solutions of Arlington. For expert assistance and tailored solutions, contact CMIT Solutions of Arlington, VA at 703-216-1860, or fill out the contact form here: Contact Our Corporate Offices | CMIT Solutions.

Our team of professionals are dedicated to helping you get and stay compliant allowing you to focus on your business and your core offerings.

Contact CMIT Solutions Today!

Ask Eli: Vote to donate to Veterans non-profit

By Sponsor

This regularly scheduled sponsored column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at Eli@EliResidential.com.

Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.

Thank you to all who have served and to their families who have sacrificed or lost loved ones for our freedom.

The Eli Residential Group will be donating $1 for each vote on the three Veterans charities in the poll below (up to $1,500). So vote and share!

One vote = $1 donation.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].

If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.

Video summaries of some articles can be found on YouTube on the Eli Residential channel.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460. 

Legal Insider: What to expect in a security clearance appeal

By Sponsor

This is a sponsored column by attorneys John Berry and Kimberly Berry of Berry & Berry, PLLC, an employment and labor law firm located in Northern Virginia that specializes in federal employee, security clearance, retirement and private sector employee matters.

By John V. Berry, Esq.

Thoughts on the Security Clearance Appeal Process

Security clearance appeals take place when individuals get denied while applying for a security clearance. They can also occur when an individual with a security clearance has their clearance revoked. Security clearance appeals can have important ramifications for your career.

In many cases, losing a security clearance can result in losing your position. We represent government contractors, federal employees and military personnel in security clearance appeals.

Each Agency’s Appeal Procedures are Different

Every federal agency handles security clearance appeals differently. While the right to a security clearance appeal comes from Executive Order 12968, agencies have developed their own policies in implementation.

Some agencies, like the Department of Defense and Department of Energy, incorporate an administrative judge hearing process. These types of appeals are essentially administrative court proceedings, with the government represented by an attorney. Other agencies, like the Department of Homeland Security, incorporates a written response and personal appearance process, which is less formal. Many of the Intelligence Community agencies provide the opportunity to submit a written response and meet with adjudicators during a personal appearance.

While there are many different procedures for security clearance appeals, there are many things in common.

Common Considerations in Security Clearance Appeals

While there may be different procedures by different federal agencies in the security clearance appeals process, there are many similar considerations. These include:

  1. Obtain Legal Advice Early: Obtaining legal representation early in the security clearance appeals process is extremely important. Too often we see security clearance appeals that have gone too far in the process before an attorney is hired, which often lowers the odds of ultimate success. Ideally, individuals with security concerns should meet with an experienced security clearance lawyer before submitting their initial security clearance forms. If not then, it is important to have a security clearance lawyer help them respond to a Statement of Response (SOR) or Notice of Intent to Revoke a Security Clearance.
  2. Obtain Critical Documentation: Many individuals are not aware and not advised about the level of detail and documentation needed to present a strong security clearance appeal. Depending on the particular case, we may need to obtain government records, performance evaluations, documents that address the security concerns, witness statements, awards, character letters and other mitigating documentation to present the best possible security clearance appeal.
  3. Draft a Comprehensive Written Response to the Security Concerns: In many cases individuals handling their own initial responses don’t realize the level of detail needed in their written response to address the security concerns. Some individuals write in “I admit” on the SOR or prepare a short paragraph responding to the concerns. A response, to be successful, must give a complete and detailed explanation about the security concerns raised by the Government. These responses tend to run 10-14 pages and along with the exhibits attached can run 25 to 40 pages. Additionally, the response has to provide detailed information about who you are as a person. The Whole-Person Concept, an overview of you and your experience and life is critical to help resolve a security clearance appeal.
  4. Be Fully Prepared for the Administrative Judge Hearing or Personal Appearance: When the time comes for an administrative judge hearing or personal appearance on the security clearance appeal it is critical to be prepared. A security clearance attorney can assist you in preparing for these processes. You will want to be able to answer questions clearly about the security concerns, your background and other issues. Additionally, in administrative judge proceedings you will want to be prepared for a government attorney’s cross-examination. For personal appearances, you will want to be prepared to address critical questions raised by the reviewing official.

Contact Us

Each security clearance appeal is unique, so individuals are advised to have counsel advise and represent them as early in the process as possible. If you need assistance with a security clearance issue, please contact our office at 703-668-0070 or at www.berrylegal.com to schedule a consultation.

Statutes of Liberty: Trump administration part II, buckle up

By Sponsor

This sponsored column is by Law Office of James Montana PLLC. All questions about it should be directed to James Montana, Esq. and Janice Chen, Esq., practicing attorneys at The Law Office of James Montana PLLC, an immigration-focused law firm located in Falls Church, Virginia. The legal information given here is general in nature. If you want legal advice, contact us for an appointment.

We didn’t ask for our sponsored column on immigration law to be published less than two days after the election — that’s just the way the cookie crumbled.

The U.S.-Mexico Border

The first thing we want to say to our readers — and our clients — is: Don’t panic. As we explained recently in these pages, most of our immigration legal apparatus is statutory or regulatory. Statutes can only be altered via legislation, and regulation can only be promulgated via the regulatory process. Major changes, if they occur, will be slow.

What changes do we expect?

  1. DACA may end. The Trump administration tried to terminate DACA in its first term; it will now have the opportunity to try again.
  2. TPS may be revoked for individual countries. The Trump administration attempted to revoke TPS for El Salvador in its first term. President Trump has said that he would revoke TPS-Haiti if elected. We believe him.
  3. Parole in Place for spouses of U.S. citizens is almost certainly toast. As we said in our article on the subject back in June 2024: “As an executive action, it is subject to a simple revocation by any subsequent President without an act of Congress.”
  4. Prosecutorial discretion in the immigration court is going to be severely restricted. The first Trump administration effectively had a “everything is high priority” posture. That means the immigration court backlog is going to get worse, not better.
  5. Future asylum claims will be made much more challenging. We expect this to be a highly contentious and litigated area, and will address it in future columns as developments dictate.
  6. Public charge determinations may be a big part of family-based immigration law again. Will we see the return of the Form I-944? Maybe!
  7. The U and T Visas may be restricted via internal action. These visas, for victims of crime and human trafficking, are authorized by statute. But the Project 2025 blueprint suggests that a future Trump administration uses its executive authority to restrict U and T visa approvals to those who are actively providing significant material assistance to law enforcement. This would restrict approval to those whose U and T visa application processes are running concurrently with the criminal prosecutions — a small fraction of the total.
  8. Mass deportations are a real, albeit unlikely, possibility.

What should immigrants do?

  1. If you qualify for a benefit today, apply. Possession is nine-tenths of the law, and, in immigration law, possession means having a pending application.
  2. Stay out of immigration court.
  3. As always, avoid giving your hard-earned money to the crooks who prey on vulnerable people in difficult times like these. Never pay a ‘notary’ for immigration help. Always insist on working with a licensed attorney, and get a quote from more than one. Comparing the possibilities can save you time, heartache, and legal fees.

As always, we are grateful for your questions and comments, and will do our best to respond.

Plan your holiday party with RSVP Catering

By Sponsor
1/4

The holiday season is fast approaching and with Thanksgiving arriving later this month, December will be here before you know it. Before you’ve even packed away the turkey carving knife and gravy boat, it’ll be time to start planning your holiday party.

But don’t worry — contact RSVP Catering, and we’ll take care of all your holiday celebration needs!

The end of the year is full of festive celebrations, and whether you’re planning an intimate family gathering or an impressive company holiday party there’s a lot to consider, but with RSVP Catering by your side, you can relax and enjoy the process.

As one of the region’s premier catering services, trusted by both corporations and wedding planners, RSVP offers a wide range of elegant menus for in-home parties and off-site corporate events. Whatever your budget, RSVP Catering ensures your celebration is seamless, sophisticated, and stress-free.

If you’re looking to design a custom menu that reflects your style or prefer one of RSVP’s chef-curated prix fixe reception menus, RSVP Catering has options that suit every need. You focus on what to wear, and let us worry about the rest.

Just a few standout items from this year’s Holiday Menu include the savory Sunday Parm Station with crispy chicken cutlets and creamy Stracciatella, our festive Bubble Bar cocktail station to keep your spirits high, and the indulgent Chocolate Grazing Table filled with holiday chocolates and house-made confections. And for dessert lovers, you won’t want to miss the Melt-A-Way Tiramisu Bar or our fan-favorite Build Your Own Sicilian Cannoli Cart — you might just need to have both!

If you’re planning a holiday celebration at home or in the office, RSVP Catering is ready to bring the magic to your table. Let us handle the details so you can enjoy every moment of the season.

Browse the Holiday Menu!

Biz Talk: Arlington Economic Development and partners bring day 2 of DC Startup & Tech Week

By Sponsor
1/3

This article is sponsored by Arlington Economic Development’s Business Investment Group.

Arlington Economic Development (AED), in partnership with key regional players like JBG Smith, the Virginia Innovation Partnership Corporation, National Landing BID and the Alexandria Economic Development Partnership, celebrated a major step forward for Arlington’s entrepreneurial ecosystem with DC Startup and Tech Week in October.

More than just an event, this initiative highlighted the strategic role Arlington plays in fostering a supportive and innovative environment for founders and entrepreneurs across the region.

With around 1,500 attendees, Day 2 of DC Startup and Tech Week transformed National Landing into a buzzing festival-like hub for tech and innovation, channeling the energy of an East Coast SXSW. The day started with engaging sessions on growth strategies, artificial intelligence, Web3 and climate tech.

Highlights included a fireside chat on the future of work, where JBG Smith’s Evan Regan-Levin and Seema Alexander shared insights into ways their organizations are actively investing in innovation, and a compelling panel organized by the Virginia Innovation Partnership Corporation on how the region can grow its reputation as a top technology ecosystem.

This day of inspiration and connection, funded by the Arlington Innovation Fund, underscored AED’s mission: to connect startups with the resources, networks, and capital they need to succeed. The Innovation Fund, backed by over $1.2 million from the Arlington County Board, is a cornerstone of AED’s economic growth strategy, designed to attract and retain entrepreneurs who drive innovation, create jobs and contribute to the local economy.

Additionally, the remarks delivered by AED Director Ryan Touhill further emphasized Arlington’s commitment and championed the region’s collaborative spirit and shared resources that make Arlington an ideal place for tech startups to flourish.

DC Startup and Tech Week also highlighted Arlington’s commitment to fostering connections across the DMV. “We’re breaking down barriers and thinking regionally,” Touhill said. “This event is a testament to our belief that no community stands alone in building a thriving tech ecosystem. Our collaboration with partners from Alexandria to Virginia Innovation Partnership Corporation and National Landing BID strengthens our collective goal of making this area an innovation powerhouse.”

For those interested in learning more or getting involved with Arlington’s innovation initiatives, AED offers services through its Business Investment Group. From strategic guidance and network-building to funding resources, AED is helping to shape a thriving future for Arlington and the broader region.

Additionally, National Landing, a rapidly evolving area, is increasingly becoming a preferred location for entrepreneurs to both live and work. Events like DC Startup and Tech Week reinforce Arlington’s role as a vibrant hub, advancing the vision of AED’s strategic plan to drive regional economic success through innovation and collaboration.

To stay connected with upcoming opportunities, visit AED’s website or reach out to Tally Wolff ([email protected]) for partnership opportunities. Whether you are a founder looking to take your idea to the next level or a business leader eager to support the growth of the local tech ecosystem, Arlington is here to welcome you.

About Arlington Economic Development

Arlington Economic Development (AED) is committed to helping Arlington thrive as an economically vital, competitive and sustainable community by providing leadership and services to Arlington’s business, real estate, tourism and cultural affairs sectors. We’re here to help your business get the tools and resources you need to grow and succeed in our community. Interested in learning more? Visit our website.

Just Reduced Properties in Arlington: November 6, 2024

By Sponsor

Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!

Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.

As of November 4, there are 121 detached homes, 41 townhouses and 142 condos for sale throughout Arlington County. In total, 16 homes experienced a price reduction in the past week, including:

1700 Clarendon Boulevard #153

Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.

Ask Eli: Advice for starting your home search

By Sponsor

This regularly scheduled sponsored column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at Eli@EliResidential.com.

Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.

Question: We are looking forward to buying a home next year. Do you have any recommendations on how we should start the home buying process?

Answer: If you Google “home buyer tips” or “what to know before buying a home” you’ll find plenty of advice on the topic, so I’ll include some suggestions I don’t usually see online and put my own spin on some of the more common advice.

Length of Ownership

How long you expect to live in your home is one of the most important factors in defining what you prioritize and how you use your budget. You should focus on the following:

  1. Likely length of ownership
  2. Difference in criteria for a 3-5 year house vs a 10-12+ year house
  3. Difference in budget requirements for a 3-5 year house vs a 10-12+ year house

Appreciation is not guaranteed and difficult to predict, but the value of longer ownership periods is undisputed. One way longer ownership adds value is the potential for eliminating one or more real estate transactions over your lifetime, thus the associated costs (fees, taxes, moving expenses, new furniture, etc.) and stress that comes with moving.

If you have an opportunity to significantly increase your length of ownership by stretching your budget, you generally should. On the other hand, if your budget or future (e.g. job will move you in a few years) restrict you to housing that’s likely to be suitable for just 3-4 years, it’s generally better to stay under budget.

(more…)

View More Stories