Buying a home is a big investment in fact, it’s probably the biggest one you’ll ever make. And, for this reason, you cannot rush into buying a house that in the end is not right for you. This mistake is usually made especially when buying houses that are not new construction (especially if the price is affordable since the real estate market is very saturated and there is high competition for the cheapest homes) since the property can have hidden defects or external problems that could become a problem in the future. Therefore, it is important to know what to ask the seller before buying a house to be able to detect them.
Below we show you the most relevant issues to take into account to prevent you from jumping into buying the first house at a good price that catches your attention and to avoid unpleasant surprises after the sale.
What to ask the seller before buying a house?
1. Why are you moving?
First, it is important to know the reason why the owner is selling his or her home. While there are many understandable reasons for moving, you need to make sure it’s not because of a problem with the property. Most people move because they must move for work or family reasons, because they are looking for a larger house in which to raise a family, or because they are facing a big change in their life. If they don’t have a clear reason for moving, you should pay attention to other factors to rule out any problems with the house.
2. How many expenses does the house incur per month?
Owning property has advantages, but also disadvantages. The clearest is the fact of having to face a series of expenses that, as a tenant, you would not have to cover. Ask the owner about the average monthly (or annual) expense that the home currently entails: taxes, fees, community fees, supplies, services, etc. This way you can get an idea of whether or not the home is beyond your means.
3. How long has the house been on the market?
Homes often remain on the market because they were not priced well when they were listed for sale. In most cases, their price was too high. Over time, these homes become outdated and can discourage other buyers. The longer a home is on the market, the more negotiating power you will have as a buyer.
4. Major Repairs and Structural Changes: An Important Thing to Ask the Seller Before Buying a Home
Likewise, you should ask if any major repairs have been made to the home. Depending on their condition, home sellers should be upfront about any current issues with the property. However, this does not usually extend to past problems, but it is equally important to be aware of them because, in many cases, if they are not fixed properly, they can reappear over time. In addition to asking about repairs, confirm that they were carried out by a professional Minnesota Home Guys.
On the other hand, you should also ask the seller before purchasing a home if structural changes, such as adding a room, a patio, or changing the layout of a home, could have a lasting impact on the property. Not only should you be aware of these additions, but you will also need to ensure that they were approved by the city council’s planning department to avoid penalties in the future. Structural changes don’t necessarily indicate a problem, but it is something to keep in mind.
5. What are the neighbors like?
Something essential to ask the seller before buying a house is what the neighbors are like. Sometimes, the perfect house can become a real hell because of bad neighbors. Excessive noises and bad smells, parking in your parking space, the accumulation of garbage or simply the fact that they have a conflictive personality can be a reason to consider buying another property. Talk to the current owner about his experience in the neighborhood, and research online to see if any unpleasant events have occurred in the area.
You can also see for yourself what the neighborhood and community of neighbors are like. Look for potential red flags, such as dirt, lack of maintenance, or signs of crime. Aside from this, trust your instincts when talking to the home seller about any disturbances in the neighborhood.
6. How old are the most expensive installations?
Air conditioning, heaters, gas installations, or solar panels can require major repairs if something goes wrong. Knowing when they were installed or repaired will help you understand what to expect once you become an owner. The last thing you want is to move in and discover that any of these facilities are starting to fail because they are too old and the proper repairs and maintenance have not been done.
7. How much did the seller pay for the house?
It’s helpful to know how much the seller originally paid for the home (and when). It will let you know if you are in a hot real estate market or if local prices have recently dropped. In addition, you will have more room to negotiate if you discover that the seller paid a price well below the market price.
Tags: Buying A House