When you’re looking for a new home, whether it’s in the same neighborhood where you’re living now, or it’s across town, it’s important to know what to what questions to ask. Sure, you’ll need to know the basics regarding the square footage, amenities, and, of course, the asking price, but there’s a lot more that should go into your buying decision.
Here are 5 questions you should ask about any home you’re thinking about buying:
1. Ask your real estate agent for real estate market comparables. One of the most important decisions you’ll make is how much money you’re willing to invest in a particular property. The only way you can know what’s a fair and reasonable offer is to look at a number of comparables.
2. How flexible are the sellers? When buying a home, your real estate agent can’t tell you what you should offer, but they can provide you with some helpful information regarding the motivation of the sellers. For example, maybe the house has been on the market for several months, it’s possible you could offer less than the asking price and still have a good shot at your offer being accepted. This can be a great way to get a home that might otherwise be a bit outside of your price range.
3. If you’re looking in a particular area, always ask if there are any foreclosures in the neighborhood. Foreclosures can come with their own problems, but they are often less expensive than similar homes in the same area.
4. Another question you should always ask is if there are any problems with the home. It’s best to know upfront. You’ll likely need to have an inspection, so knowing early on that the roof leaks can help you prepare for how you’ll move forward.
5. One question that often gets overlooked is whether a home is in a flood zone. If you purchase a home in a flood zone, you’ll need to also purchase flood insurance. Of course, you’ll also need to take precautions in order to protect your home.
An experienced real estate agent will be able to answer your questions while providing professional help throughout the home buying process.