A home is a major purchase, so it’s vital that you arm yourself with useful information as you select a property to purchase and decide how much you’re willing to invest in it. While walking through a home is sure to inspire some queries, it’s smart to think ahead. Creating a list of questions to ask when looking at a house before you tour properties helps to ensure that important considerations don’t get lost in the excitement of seeing a house for the first time.
Questions to Ask When Looking at a House
Could this house be my next home? That’s often the question that’s floating through the minds of aspiring homebuyers as they walk through a property. It’s certainly an important question to ponder, but determining its answer is often easier if you start with some simpler questions. Here are a few questions to ask when looking at a house to get you started.
Why Is the Seller Selling?
You may not get an honest answer, but it doesn’t hurt to ask why the seller is selling the home. On the contrary, it can be quite helpful. As Own Up points out, understanding the seller’s motivations can give you some insight into how eager they are to sell and how willing they are to negotiate. Knowing why a seller is leaving might also alert you to potential issues with the property.
What Threat Do Natural Disasters Pose to This Property?
Insurance offers peace of mind and protects your investment, but homeowners insurance doesn’t cover everything. The Seattle Times reports that homes that are prone to flooding, earthquakes, or other natural disasters may require additional insurance policies that safeguard the homeowner’s interests from specific threats – and that insurance can be expensive. Unfortunately, being underinsured is risky because it leaves you vulnerable to financial ruin.
Is the Neighborhood Appealing?
There’s a reason that location is such a focus in real estate: The area surrounding a home has a major influence on its desirability. Evaluating the appeal of the neighborhood is essential, and it’s not just because you’ll be living there. The neighborhood can also have a huge impact on a property’s value and your ability to sell it in the future.
What About Improvements or Repairs?
Sketchy renovations and shoddy repairs can be hazardous to the health of you, your property, and your wallet. Investopedia suggests asking who did the work for any major repairs, remodels, or construction projects. You could also ask to see the relevant permits and inquire about warranties.
What Is Included in the Sale?
Is the shed in the backyard part of the deal? What about the washer and dryer set? While fixtures are normally included in the sale of a home, the rules for what must stay and what the seller can take vary from state to state. Exclusions should be listed in the listing description, but the Seattle Times advises potential buyers to avoid confusion and ask what is and is not included in the sale.
Is There Anything Else I Should Know?
Specifics are important, but sometimes the most informative question is a vague, open-ended one. If you’re interested in learning more about a home, Forbes suggests asking the agent one final question: Is there anything else I should know about this house? This allows the agent to direct the conversation and can open up new avenues that you might not have thought about.
Whether you’re buying your first house or your 21st, having your financing in order provides insight into how much you can afford to spend and strengthens your case when you’re ready to make an offer. At PrimeLending: Twin Cities, our team of home loan experts can help you find the best loan product for your needs and guide you through the loan process. Contact us today to learn more.