Questions to Ask When Buying a House In order to help eager home buyers avoid costly surprises down the road, here is a list of the most important – but often overlooked – questions home shoppers need to ask before committing to a home purchase and a monthly mortgage. 1. What is the neighborhood’s crime rate? One item David Bakke, finance specialist, suggests taking into consideration when buying a house is the neighborhood’s crime rate. High crime rate brings down the property value, but what’s most important is having that peace of mind that you and your loved ones live in a safe and secure area. 2. What are my home ‘needs’ and ‘wants’? According to Steven Aaron, a Beverly Hills real estate professional, “No property is perfect. What are your ‘deal breakers’ vs. your wants? Where are you willing and able to compromise?” The point here is to have a shorter check-list of “must-haves” when looking at potential homes. 3. Where is the seller’s disclosure? Even if you are head-over-heels for a house, don’t fall in love with it. Unlike a person, a home is just four walls — and there are plenty out there with many more being built. Steven Aaron recommends to “Ask the listing agent if there are any seller disclosures (known defects of material facts that can affect desirability or value) before you write an offer.” Just like a relationship, you need to take time to know your future partner, or in this case, your future home. 4. Can I make the needed home renovations or additions? If you are looking to add on to your home or do renovations, it is wise to check the house’s zoning or area disclosure. Steven Aaron advises to “Know if the property is located in any type of historic or preservation area. There may be limits on adding on, aesthetics etc.”
Posted on: Wed, 24 Jul 2013 20:07:19 +0000
Trending Topics
Recently Viewed Topics
© 2015