10 Questions Home Buyers Are Not Asking (But Should Be)
Home buyers often get caught up in the excitement of finding a home they like and forget the important questions that they need to ask. Without a bit of preparation, they may not know the right questions to ask to ensure it is a good buy.
Do not let a fast-talking seller make a home seem perfect without following up with a few questions. Prepare these ten questions in advance to really know what a home is like.
Purchase History
This is not a question that must be asked of a homeowner or their real estate agent. Learning more about the purchase history of a home is easy. Any listing site will have the last sale date and what the home sold for. This price can give a home buyer an idea of how much the home was worth when the owners bought it and if they have a mortgage how much they still owe.
This can be important information if determining the seller’s motivations.
What Has Changed
Knowing what renovations have been complete can give insight into the price point of the home. A house that was bought for cheap and had thousands of dollars poured into it may be on the market for a much higher price.
Ask to see the work that has been completed and even look at receipts from the contractors. No renovation gives a homeowner one-hundred percent return on investment but it can affect the price of the home.
Paying Taxes
Always look at the property tax history. This is something that is typically located close to the purchase history on a listing site. The property tax can change since it is calculated from the value of the house which is affected by the latest purchase price.
If buying a house for significantly more than the previous owners paid, keep in mind that the taxes are going to increase.
Ask About Bills
Know what the house uses in utilities and see if there are any association fees. Monthly bill costs and maintenance costs should play a huge role in the decision-making process. While a mortgage may be relatively low, if the utility cost is double what a buyer is used to paying their budget will be strained.
Talk About the Plumbing
No homeowner wants to talk about the bad aspects of their home. So, it is a conversation that may need to be forced.
Ask if there have been any major problems with the plumbing. Even if a problem has been fixed in the past that could mean the system is strained.
Many home insurance losses are due to poor plumbing so it is necessary to know what the plumbing has done in the past.
What’s On Top?
Always check the age of the roof and have it inspected. An old roof is not going to be a cheap problem to fix.
Natural wear and tear on a roof is expected. However, do not buy a house with a roof on its last leg. If a roof is extremely old ask the homeowner to update it or ask for a credit to lower the price of the house.
Little Critters
Never buy a house without knowing if it has problems with pests. Each neighborhood and house may see different problems. Some people see mice when the months get cold, others have ants when it is warm, and major infestations should be reported to the buyer.
Even though a homeowner has taken care of a past infestation does not mean those pests will not be back later.
Learning About Warranties
It is always a good idea to have a home warranty when moving into a new house. Before jumping into a home warranty, ask about the appliances current warranties. If the home is being sold with many new appliances they are likely still under warranty. Any old appliances are probably on their last leg and will need to be replaced.
The Car Situation
Parking situations go beyond looking at the garage. Check if there are parking permits that are needed. See where and when parking is allowed if there will be more than one car parked at the home.
It will also be helpful to know if the seller has ever had problems when having guests over.
Past Owners
The last question to consider asking is if the home has had any past owners or interesting history that is attached to it. This could vary from a person dying in the home to the house being a local landmark for starring in a film. Each one of the situations can change a home buyer’s mind about what history they would like to deal with in a house.