Buying a property is one of the most expensive purchases you can make, so it’s important to get it right. Whether you’re buying your first property or your 10th, the process will always be the same. When you’re buying a property, you need to make sure that it’s the one for you, and being armed with the right questions can help you find out.
Help your house purchase go as smoothly as possible with these top questions to ask when buying a property.
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How much can I afford?
Before you start looking at properties, it’s important to get a clear picture of your financial situation to help you figure out what’s realistic and to help you set a budget. You’ll want to ensure that you take steps to improve your credit score and clear your debts before you start getting excited about houses. With a figure in mind, you’ll be much more prepared ready to be able to make an offer when you find the right property.
What do I want in a home?
With so many properties out there to buy, you need to be able to narrow it down to stop you from saying yes to anything. Making a house wishlist is a great idea to help make sure your chosen property meets your criteria. Even if properties don’t have everything on the list, you might be able to achieve some things through home improvements, allowing you to create your dream home over time. Think about all of the things you want in your home to help make it easier to sift through all of your available options.
Why are the owners selling?
People sell their homes for a reason, and finding out why before you make an offer can stop you from making a huge mistake. The reasons why someone is selling their home can be varied. From having to relocate for work to needing more space, not all reasons are to do with the house itself. However, if the home is in need of several improvements, the neighborhood isn’t great or the neighbours are unbearable, then it’s good to have some warning before you get too attached to the house. Ask why the owners are selling to give you some further insights into the property.
How long has the property been on the market?
Finding a home that you’ve got a lot of interest in is great, but you need to find out as much about it as possible to stop you from making the wrong decision. Always ask how long a property has been on the market. If the house seems great but it’s been listed for a long time, you could find that there’s some underlying problem with it.
Will the value on this home increase?
It’s difficult to assess whether or not a home will increase in value, especially with the economy as fragile as it is. However, as your home purchase is an investment, you want to make sure that you’re making a wise move for your future. If you can find ways to increase its value through improvements etc., or it’s a property located in a good location, then it’s possible you could benefit from an increase in value. If things in the area you’re looking at aren’t looking great, then you might want to consider real estate in another city or even another country. When looking at properties, don’t just think about the present – look way into the future too.
Have there been any major structural problems, leaks or infestations?
People selling a home want to make it look as attractive as possible, which is something that can hide a lot. Some important questions to ask when buying a home include whether there have been any significant problems with the home that have needed addressing. Things like bug infestations, damaged roofing and burst pipes can all be big warnings that you’ll want to avoid. Make sure you book in the right home inspections to make sure you get to know as much about the property as possible.
With so many things to consider when buying a house, you need to go through all of the details with a fine-toothed comb to make sure you’re getting the best deal and making a house purchase that’s right for you. Once you’ve got the stress of buying out of the way, moving home will be the next big step! Learn how to reduce the stress of moving house to make the transition to your new home a smooth and happy one.