What To Ask When Looking At Potential Homes
By Raynor James
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.
Raynor James is with the FSBO site - FSBOAmerica.org - homes for sale
by owner. Visit our home buying page to buy homes and read relocation
articles.
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