Buying a house is probably one of the biggest investments you make in your entire life. Therefore, it’s vital to consider all the factors, gather all the information, and make all the plans prior to purchasing the house. This can help save a considerable amount of your money and avoid multiple problems in the future. So, ask necessary questions from your real estate agent before purchasing the property.
1. How Long Has The Owner Lived In The House, And Why Are They Selling The Property?
Is the owner moving to purchase a bigger house in their preferred locality, or are the pipe leakages forcing them to leave? Knowing the reason behind the seller's move will help you understand whether the house is a good fit for you. Your real estate agent will surely tell you the right reason. Of course, they want payments, and they will only get it when you give the green signal to purchase the house.
Not only do these questions help you make the right choice, but they also help you negotiate with the seller. This is why, if the seller is in a hurry and wants to move to a new state or city to begin their new job, the chances are that they don’t have much time to waste on the selling process. You can benefit from the situation and negotiate a great amount of money.
Finding out how long the homeowner has lived in the house can help you collect the right information. If they have lived for a longer period, this could indicate that the neighborhood condition is satisfactory. However, if they move within a year or a few years, there is something fishy. In that case, it’s better to roam around the neighborhood to understand the environment, people, and facilities.
2. What Is The Worth Of The Property?
Understanding the approximate value of the property is important to know whether the seller’s demand is right. It will also help you determine the right negotiation value with the homeowner. Well, your Real Estate Agent can't tell you what you should offer, but they can tell you the prices of the houses in the neighborhoods in which they have sold properties.
You can ask your real estate agent about the high and low prices of similar properties in the locality. Furthermore, use this information to compare the house and its asked price to make the right offer.
3. What Is Included In The Sale?
Most people don't ask about what they will get with the house. Later, when they move to their new home, they don't have the equipment, devices, or furniture they thought they would get with the house. So, make sure you have discussed everything you will get when buying the property. First, ask your agent so they can discuss it with the sellers.
Some important things you need to get are white goods such as laundry appliances, dishwashers, or fittings. And of course, don’t forget to keep the fixtures and garden shed. Asking these things upfront before paying a deposit can save you hundreds of dollars that you can use for home improvement projects. Apart from this, you also need to test and check the electronic devices and appliances to know they are working perfectly well.
4. Does The House Have Any Major Problems?
No one wants to invest in a house with problems. Investing in a house with leakages, damaged HVAC, and old and unfunctional thermal insulation can cost you a lot of money. Although your building inspector can help you identify potential problems, asking your agent before hiring an inspector can save you money and time. Your agent will be more focused on a potential sale. Therefore, they will tell you all the major issues that can impact your decision.
Additionally, when your real estate agent answers all your queries, hire a building inspector. Plus, ask for a copy of the building inspection report to know the house's condition. You can also discuss the report with your Real Estate Agent to make the best decision for yourself.
5. How often has this house been sold?
This is one of the most important questions to ask your agent. You need to know how quickly the owners have been selling the house. If the property has come into the market several times in the last ten years, it can indicate a problem that forces owners to move out of the house. Note that it can be anything related to the property, such as location, neighborhood, and people living in the locality.
Ask your agent to check how many times the house has been sold in the last decade. If the number is high, ask your agent why. Furthermore, if your agent works in this neighborhood for a longer time, they will definitely know the reason. It is the primary reason you need to hire experienced agents, rather than beginners, who can give you the best services.
6. How much are the utility bills and the property tax?
If you are happy with the house, it’s important to understand whether you can afford it. Moreover, it's important to plan a budget prior to moving to your dream house. Obviously, you need to get approval for the loan from the bank to know what monthly payment you need to pay and how long. But you also need to know some additional costs related to the house.
Asking about the utility bills and property taxes for the house can help you plan a budget for each month. It will also help you understand whether you can afford the house bills with the mortgage payments.
Bottom Line
In a nutshell, you need to ask important questions about the house from your real estate agent so that you don't have to suffer after investing your hard-earned money. Gather as much information as you can about the house and neighborhood. Ask your agent to inspect the reason the sellers are moving out. Once satisfied with all the answers, you can purchase the house.
