Are you thinking of buying a house?
There are over 3 million Americans that move interstate each year. This is because moving to a new home is an achievement and it’s a sign of being independent. Also, it means that you’re living up to your dreams.
Moving locations is often complicated because people don’t know about the crucial questions to ask before buying a house. They often end up in a house that’s not good for them or their lifestyle. With the right questions, though, you can avoid this.
These are the 10 important questions you need to ask before buying a house. Read on to learn what to ask before moving in.
Is It Within My Budget?
The first question to ask before buying a house is can you afford it? Aside from the sales price, there’s an extra cost to consider when buying a house. This includes property tax, homeowner insurance, and any renovation you want to do.
With all the additional expenses, you don’t want to make any expenses that involve money lending. This makes asking the question important so you don’t run the risk of a mortgage larger than what you can afford.
What’s Included in the Sale?
Cabinets, faucets, and window blinds are also known as fixtures. They’re included in the home sale which adds to what you’re buying. Some items aren’t considered as fixtures, and depending on the state, the list of fixtures is longer.
When buying a house, it’s important to know what’s included in the sale. This is so you know what you’re buying and what’s included. To avoid disappointment, it’s best to get in writing what the included fixtures are.
How Much Is the Down Payment?
When it comes to budget, your downpayment is another thing for you to consider. The size of your down payment can affect your mortgage payments. The more you pay for the down payment, the less you will have to pay the mortgage.
Buying a house is wonderful, but it’s not an emergency, so don’t use your emergency funds for any payment. When buying a house, keep in mind it’s a planned expense. Your emergency funds are best used for things like renovations along the line.
How Old Are the Major Systems?
Among the things you have to take note of are the major systems like appliances, air conditioners, and furnaces. This can help you expect the repair and expenses for renovations and replacement. It’s also important to know how they got damaged if it’s through DIY or contractor damage.
The safety of your new home is important if you’re moving into it with your family in tow. You’ll need professionals to do building inspections before you can be confident in the house’s structure.
Do I Need to Furnish or Redecorate?
There are cases where property records and listing don’t match up. The advertisement isn’t always correct, and may have non-conforming additions that don’t abide by the building codes. Find out what are the repairs and renovations the seller has made in the house.
This will help you understand the seller’s selling price and the possible expenses you will spend on renovations. Here, you can estimate as well if you will be using your emergency funds or you need more. This is also an opportunity to know if you will need a loan for buying the house.
Any Repairs or Renovations That I Need to Do?
Before you move to your new home, you need to check if there’s anything that needs repairs. The first thing you should check is the roof as any damage there means there are also damages somewhere else in the house.
You can also ask the agent if the house has any existing problems. Make sure to ask about any problems it had in the past, too. It’s a good way to prepare yourself for any possible occurrence within the house.
How Long Has the House Been on the Market?
The reason why a house is on the market for a long time is because of the high price. The listing will become stale the longer the house is on the market. Stale listings aren’t as desirable as they once were.
The good news is, the longer a house is on the market, the more motivated they are to sell it. This is a good opportunity to negotiate the price. Make sure to do a thorough check to find anything you can use as leverage for negotiation.
Any History of Past Insurance Claim?
What to look for when buying a house? Always get a C.L.U.E., which stands for Comprehensive Loss Underwriting Exchange.
This benefits you because this is a seller report. They have to state any homeowner’s insurance claim in the past seven years.
This will give you an insight into any damage the home has sustained that the seller has failed to mention. Also, to estimate the cost that you will spend on buying and repairs.
Why Is the Seller Leaving?
It’s important to find out why the seller is leaving. Sellers can move for many reasons like job relocation and such. This will allow you to negotiate the price especially if the seller needs to move out right away.
A seller who’s motivated to move out is negotiable. They will work with you so they can sell the house fast. Thorough questioning is also a good way to find out if the listing is illegal in the first place.
Is It Prone to Natural Hazards?
Always check if the house is prone to disasters and natural hazards. This is important to know because a house in a precarious spot can be a prime victim of hurricanes or earthquakes.
This knowledge should be in your mind as you’re deciding to buy the house. Think about the risks it puts you and your family in should a potential disaster hit you.
Know the Questions to Ask Before Buying a House Today
Don’t forget to take proper steps to take before buying a house. Asking these questions will guarantee that you walk into a home that you’re confident in. Find a house and get asking today!
Do you want to learn more about house purchasing? These crucial questions to ask before buying a house aren’t the only things that can ensure quality homes. Check out more of our guides to learn all you can today!