Buying a Home? Remember to Ask These Important Questions

 

 

 

 

 

 

 

 

 

Buying a home is both exciting and stressful. When visiting potential homes, buyers can get caught up in the excitement of the moment. It can be a daunting task to try to find the right place, and it is easy to overlook some things. However, prospective buyers should ask several important questions prior to making an offer on a property. Working with an experienced agent will help ensure that all of the important questions are answered before the buyer makes an offer.

What are the Known Problems?

Another question homebuyers should ask is what problems the house may currently have, if they know about them. Sometimes the inspection uncovers problems, which the owners legitimately did not know about. However, there are some issues that may be the underlying reason for the sale. One such issue is how recently the replacement of key systems was. Disclosure is important for buyers so they can make an educated decision about the property.

Is it in a Flood Plain?

One often overlooked consideration is flood plains. Unless the buyer is from an area that has flooding issues, this topic may not be on the list of concerns. However, it is important for potential buyers to know if the home is in a flood plain and if it has ever flooded in the past. As homeowners insurance will not cover flood damage, this crucial information can tell buyers whether there will be an added expense and approximately how much more they will pay.

What is the Foundation Type and Age of the Roof?

Of course, when it comes to the house, consumers should ask how old the roof is and about the type of foundation on which the house is situated. These are important components that can be costly to repair or replace if they are not in good condition at the time of the purchase. Additionally, potential buyers should ask about insulation in the walls and attic. Other considerations buyers need to ask about are radon and mold tests.

What will the property taxes be?

If it has been many years since a house last sold, the property taxes that will be assessed on the home after purchase may be higher than what the current owner is paying. Understanding what the property taxes will be after the sale based on the purchase price will help the buyer understand the full financial picture of ownership beyond the mortgage payment.

It is an exciting time when considering buying a home. It is easy to overlook the hard questions, especially when buyers have fallen in love with a specific home. Do not be afraid to make a list and take it to any showings.

 

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