The journey to buy a home in Northern VA can be both exciting and daunting. As a prospective homeowner in 2024, understanding your budget and savings strategy is crucial. Fortunately, with the guidance of negotiating experts like Joey Remondino and his team at J Group Realty, with 21 years of experience in the real estate market, this process can be simplified and made more accessible. You may even be able to buy a home, townhome, or condo sooner then you think.

Key Costs to Consider:

Understanding Down Payments:


The first step in your home-buying journey is to assess your finances to include cash for a down payment. Contrary to popular belief, a 20% down payment is not always necessary. Every buyers situation is different and every mortgage loan program is different and depends on the unique financial standing and goals you have to purchase. There are VA loans, FHA first time buyer Loans, Conventional Loans, and many others which all have different down payment requirements. You will need a team of professionals, including a real estate agent to captain the journey. Our team at J Group Realty, led by seasoned expert Joey Remondino, can help you navigate and make your home-buying experience as smooth and informed as possible. The next pro you will need is local and experience mortgage lender to review your finances first, to determine your capacity to borrow for the purchase of a property in Northern VA. The team at J Group can help you find some exceptional local lenders!

Budgeting for Closing Costs:

Closing costs are an essential aspect of your real estate transaction, and typically ranging from 2 to 5 percent of your mortgage. These costs cover various fees and payments necessary to finalize your purchase. At J Group Realty, we work closely with trusted lenders to ensure you have a clear understanding of these expenses and are prepared for them. Want to know the details, visit our J Group blog post, Surprised By Closing Costs.

Planning for Earnest Money Deposit (EMD):

An Earnest Money Deposit is a sign of good faith when making an offer on a house, usually between 1% and 2% of the total home price. This will be higher for new construction not yet completed. This deposit is not an additional cost but rather a part of your upfront expenses, contributing towards your down payment and closing costs. You pay this when the offer is accepted. Our team at J Group Realty will guide you through this process, ensuring that your offer stands out in the competitive Northern VA real estate market.

Your Next Move:

Being well-informed and prepared is key to a successful home purchase. With the expertise of J Group Realty trained by our negotiating expert, Joey Remondino, you can navigate the complexities of the Northern va real estate market with confidence. Your first step is to connect with us to have a knowledgeable and experienced partner by your side throughout your home-buying journey in Northern VA