Buying a house in Buckingham involves securing pre-approval, collaborating with local agents, navigating competitive offers due to low inventory, and finalizing inspections and closing. The process is influenced by regional market trends, property types, and financing options.

Buckingham, Virginia, is part of the Washington, D.C., metro area, attracting buyers seeking affordable suburban living with access to urban amenities. As of 2023, the median home price was $450,000, reflecting a 15% annual increase from 2022. Inventory remains tight, with a 2-month supply of homes, prompting multiple offer scenarios. Buyers typically work with agents familiar with local neighborhoods like Buckingham Station or historic districts. Financing often involves conforming loans (up to $729,750) or VA loans for veterans, with average interest rates around 7.5% in 2023. Closing costs average 2-4% of the purchase price, including taxes, insurance, and title fees. Inspections are critical due to older properties and potential flood risks from nearby waterways. Recent data from the Buckingham County Assessor’s Office shows 12% annual growth in home sales since 2021, driven by remote workers relocating for lower costs. Commute times to Washington, D.C., (45 minutes) and proximity to Quantico Marine Base also influence demand. Buyers should budget for property taxes (0.8-1.2% annually) and maintain emergency funds for repairs. The combination of affordability, growth, and limited inventory makes Buckingham a competitive yet viable option for first-time and move-up buyers.