Buying a home in Bull Run Manassas
The Wall Street Journal discusses social economic stats . These stats provide great insight on the real estate market. Below I used data from the news article discussing Fairfax County. Manassas located in Prince William County is a neighboring county with comparable stats.
Data provided by US Census
I bring emphasis on income levels because income is generally the key factor in qualifying for a mortgage loan. Using the traditional method of what ever you borrow should not be more than 3 times your income, plays a key role in how large a house you can buy and the location of that home in Bull Run Manassas.
Washington DC suburbs have the largest range of middle class incomes. That brings a large range of price points when searching for a home in Bull Run Manassas.
It is critical to get pre-approved before searching for homes. Sit with your real estate agent and your loan officer to fully understand the market.
It is disappointing to fall in love with homes you cannot afford and a waste of time limiting your search because you think you cannot afford a larger house.
Knowledge is power when buying a home in Bull Run Manassas.
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