How to Buy a House in Virginia
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$416,516
Closing Costs
$16,054
3.85% of price
Property Tax Rate
0.77%
$2,665/yr median
Days on Market
30
Median
FHA Loan Limit
$472,030
Attorney Required
Yes
Foreclosure Type
Non-Judicial
Transfer Tax
0.25%
$0.25 per $100
Virginia's housing market is heavily shaped by its proximity to Washington, D.C., with Northern Virginia (Arlington, Fairfax, Loudoun Counties) functioning as an extension of the D.C. metro and commanding prices that rival the district itself. The state's economy is deeply connected to federal government spending, defense contracting, and the technology sector that has grown up around government clients — a dynamic that provides remarkable stability but also means housing prices in NoVA respond to federal budget cycles. Beyond the D.C. influence, Virginia Beach-Norfolk provides a military-anchored coastal market, Richmond is experiencing a mid-size city renaissance, and the Shenandoah Valley offers stunning affordability with mountain scenery. Virginia does not require an attorney at closing and uses a deed of trust with non-judicial foreclosure.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Zillow, HUD, Tax Foundation
Key Facts About Buying in Virginia
- ✓Northern Virginia market driven by DC proximity
- ✓Non-judicial foreclosure state
- ✓Moderate property taxes and closing costs
- ✓Fast-moving market near DC metro
The Home Buying Process in Virginia
Buying a home in Virginia follows a 10-step process. As an attorney state, you'll need legal representation at closing.
Check Your Credit Score & Finances
Get Pre-Approved for a Mortgage
Find a Real Estate Agent
Search for Homes & Make an Offer
Get a Home Inspection
Secure Your Financing
First-Time Buyer Programs in Virginia
VHDA First-Time Homebuyer Programs
Below-market rate with closing cost assistance
Cost of Buying a Home in Virginia
| Down Payment (3.5% FHA) | $14,578 |
| Down Payment (20% Conventional) | $83,303 |
| Average Closing Costs | $16,054 |
| Transfer Tax | $1,041 |
| Annual Property Tax (est.) | $3,207/yr |
Legal & Regulatory Details in Virginia
Homestead Exemption
Available
Up to $25,000 (varies by locality)
Licensing Authority
Virginia Real Estate Board
Virginia Real Estate Law Overview
| Conveyance Document | General-warranty or special-warranty deed |
| Security Instrument | Deed of trust |
| Foreclosure Process | Non-Judicial |
| Attorney Required at Closing | Yes |
| Deficiency Judgment | Yes |
| Redemption After Sale | No |
| Reinstatement Available | No |
| Seller Disclosures | Sellers must provide a disclosure statement that essentially tells buyers they are responsible for inspection. Sellers need not disclose property conditions except for specified issues (septic-system problems, prior meth labs, code violations, military air installations, stormwater facilities). Sellers must not conceal defects; buyers can cancel if disclosures are not delivered before signing. |
