10 Important Questions to Ask Before Buying a Home Featured Image

Just as open houses and pre-approvals are part of the real-estate purchasing process, so are inquiring minds. You probably have your own questions that you want to ask before you buy a house, but you also don't want to ignore these basics that can make or break the deal. 

What School District is This House In? 

For people with children, this question is often one of, if not the most important. While you can often see a school district online, the information is not always accurate. Furthermore, you don't want to just know which school district the property falls within, but also the specific schools. The strength of different schools can vary even within a district.

What is the Crime Rate of the Neighbourhood?

While you can gain statistical information online, you want to ask your real estate agent what the most trusted source for details is. Crime can certainly happen in any neighbourhood, no matter how safe it is, but people generally want to live in the safest area that they possibly can. You also want to get a sense of what type of crimes happen in the area.

How Much Are You Willing to Negotiate?

The buyers might be a little uncomfortable telling you exactly what their bottom line is; however, you do want to get a sense of whether or not they are willing to negotiate at all. You don't want to waste your time with a house that is far too expensive and that is currently owned by individuals who won't negotiate at all.

What is the Appraisal Value of the Home?

Not only do you want to get a price that makes sense for your budget, but you also want to ensure that you aren't paying too much for the property. The appraisal value is information that should be readily available to you.

When is the Home Inspection Going to Happen?

Before purchasing a house, you want to ensure that the property is thoroughly inspected. You need to know how much money you will have to put in to ensure that the property is up to code. Failure to take care of this important step could mean that you are going to spend even more funds once you move in.

Can My Closing Costs Be Rolled Into the Loan?

When you're taking the costs of buying the house into consideration, do not forget about closing costs. Some people show up for closing, and they are horrified at the number of cheques they have to write. Setting aside money for closing is wise, and you can also ask if the costs can be rolled into the home loan. Then, you can pay them off slowly as opposed to all at once.

Does This House Have a History of Termite or Mould Damage?

While many different ailments can plague a house, termites and mould are two tremendous ones. If a house has had termite damage in the past, then it might be structurally unsafe. Even if that is not the case, the termites might come back if you do not keep up with the treatment. Mould is another major problem because it can be difficult to permanently get rid of. Houses that have been involved with floods may experience consistent mould damage.

What is the House's History With Floods, Anyway?

Speaking of floods, you want to find out if the house is located in a flood zone. In the event that the house has flooded during serious weather conditions in the past, especially multiple times, a decent chance exists that it is going to happen again. Depending upon the location of the house, you might have to purchase flood insurance.

How Close is the House to Public Transportation and/or Highways?

No matter how you choose to commute, you likely have to at some point. Therefore, you want to know how long it is going to take you to get to highways or parkways; make sure you account for traffic and find out if the rush hours are bad in the area. If you take public transportation, you want to make sure that you are able to easily access the stops. 

Is the Community Socially Active?

Not only do you want to know about the specific house, but you also want to know about the neighbourhood. The definition of "socially active" is going to depend upon who you are. For example, if you have small children, you probably want to know about programs for parents and kids; if you are a young couple, you may wish to know how close the restaurants, bars and stores are. 

Asking these important questions before you purchase the house will help you to have a smoother transition into the world of home-ownership.

Photo credit: stock.adobe.com

Posted by Terry Paranych on


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