Buying a house can be an intimidating and overwhelming experience. Here are
some key questions to ask yourself and sellers before plopping down a down
payment.
What To Ask When Looking At Potential Homes
Following is a list of general questions you should always ask when
considering making a real estate purchase. Keep in mind, however, you are
unique.
You have particular dislikes and likes as well as factors in your life that
are different than other people. The point I am trying to make is that you
shouldn't stick to just these questions. You are making an important choice, so
give some thought to your situation.
1. Don't rush into things. The first question to ask should be directed at
yourself. What type of home do you want? How big should it be? What amenities do
you want? Are you planning for a family in the next three to five years and will
the home be able to accommodate a new bundle of joy? Make a definitive list and
stick to it. If you stray from it, you could end up with a house that doesn't
really fit you and suffer buyer's remorse.
2. The next question is what area do you want to live in? Pick a few. You may
find the prices to be excessive or the selection not so hot, but make sure you
exhaust those areas before moving on. Again, you want to avoid buyer's remorse.
3. Once you start looking at homes, a key question to ask is how long the
house has been on the market. The amount of time will give you an idea of how
flexible the owner is on price. If the house has been on the market for a month,
the owner isn't going to be very flexible. If it has been on the market for six
months, flexibility will definitely exist.
4. Has the house previously been in escrow, but fell out? If so, find out
why? Was it a problem with the buyer getting financing or did the buyer find out
there was something wrong with the home?
5. What kind of condition is the house in and how old is it? Remember that a
seller has typically done everything reasonably possible to spruce up the home.
If you can see wear and tear on the house, it may be a red flag. In such a
situation, you need to get a home inspection to make sure there aren't problems
in areas you can't see such as mold, rust and water leaks.
6. If you have children or are planning on it, you must investigate the
school district. Are the schools good? Are there gangs or crime in the area?
7. In addition to the home price, you should ask whether there are any
additional fees such association fees.
8. What are the property taxes and what will they be when you buy? Many
people are shocked to find out how much they have to kick out in property taxes.
Don't get surprised.
9. Zoning and easement issues are often overlooked when buying a home. If you
are buying in a neighborhood with many homes, zoning is undoubtedly going to be
for residential living. Easements, however, can be nasty surprises. Find out if
there are any easements on the property. An easement gives a third party the
right to use of part of the property. This can include giving the neighbor the
right to do something or a utility company to place structures on your
prospective property.
10. Noise is another big issue to consider. If you are serious about the
property, make sure to drive buy on weekdays and weekends. If the property
shares a wall with another residence, such as a duplex or condo, make sure you
view it while the neighbors are home to get an idea of how loud it is.
11. In the euphoria of buying a property, practical issues can be missed. A
big one is traffic. Specifically, what is the commute like between the house and
your place of work? You don't want to buy the house only to find out it takes
three hours to get to and from work each day.
Obviously, you should be asking many additional questions before making a
purchase. These 11 questions, however, will help you get started.