Questions to Ask When Buying a House
Buying a house is an exciting process and the start of a new stage of your life. It is a large financial investment, so it is crucial to know what questions to ask when buying a house. Buying a house is a prolonged process and there are many factors that go into deciding if the house is right for you. These are some of the most important questions to ask when buying a house.
Does this neighborhood feel like home?
Walk around the block and get a feel for the neighborhood. In fact, walk around at several different times of day so you can get to know the area in its different forms. Is there traffic noise, kids playing outside, or neighbors socializing? If you can see yourself in this neighborhood it’s a good fit.
Why is the house being sold?
It’s a very important question to ask, but you may not get an answer. You may never meet the seller, but it is good to know that the seller is leaving for the right reasons and not an issue with the house or neighbors.
Am I ready to buy a home?
You need to be honest with yourself and ensure that you mentally ready for home ownership and all of the maintenance that comes with it. Reflect on the house, where you are in your life, and your financial situation to make sure you are ready to transition from renting to buying.
Does the space fit your needs?
The house should be the appropriate size. Have a clear plan of how you want your life to be in the new house. Though your plan will inevitably change, you don’t want to buy a house that has too much space and is expensive to maintain.
Is this house in my price range?
Make sure you have an emergency fund and then some. Buying a house is a huge investment and you don’t want to into perilous financial straits after making such a large purchase. Be honest about what you can afford in maintenance costs.
Is the house in a disaster prone area?
Questions to ask when buying a house should also concern the surrounding area. Find out if the house is on a flood plane, or near a river. This may make the house very expensive to insure or entirely uninsurable. Do everything you can to find out if the house is vulnerable.
Does the house have good bones (wiring, heating, foundation, plumbing, roof)?
Any and all of these are very important for the safety of the house, not to mention would be extremely costly and disruptive to replace. Make sure that the house is thoroughly inspected by multiple inspectors before purchasing the home.
Are there any known problems with the house?
Is the house vulnerable to ants in the spring? Does the roof get worn down faster than normal? These aren’t necessarily deal breakers but it is better to know about potential issues that may arise so that you can keep an eye on them or take preventative measures.
When is the Best Time to Buy a Home?