Your homebuying budget should begin with costs you can comfortably afford, not a townwide price statistic. I'll help you keep that personal boundary central as you decide which homes to consider.
The latest market report covers Leesburg single-family homes, condos, townhouses and apartments together. The typical sale price was $825,000 for homes that sold in that reporting period. The typical asking price among homes listed for sale was $805,025 at the reporting period's end. Asking prices describe listed homes, while sale prices describe completed sales, so these figures do not establish a negotiated discount.
I would use these townwide figures for orientation, then build your search around the payment and savings you want to preserve. A lender's borrowing limit and the amount you feel comfortable spending need not be identical. Leave room to discuss taxes, insurance, maintenance and any applicable fees rather than focusing only on the purchase price.
Ask your lender for a payment estimate that identifies the included costs and the money needed at closing. Separate must-have features from preferences so we can compare homes without stretching your budget for every appealing detail. Set the maximum price you are comfortable offering before a particular home starts influencing your decision.
