Whether you are buying a home or renting one, there are important facts to know about the property before settlement. Asking the necessary questions arms you with the needed information about the house, which helps you to make the best for your family.
Before moving past inspection contingencies, ask for the estimates for the repairs – assumptions can be costly. You should know the home condition which includes the state of the components in the house, such as HVAC, roofing, electric service, chimneys and more. Knowing the necessary repairs to be made will help you make a fair offer and prevent loss on your side.
Try to find out why the owner is selling before making a decision you can’t easily turn away from. While most sell due to outside circumstances, some might be selling because of certain faults with the home. Safe reasons for selling include: relocation for a job, moving closer to family and friends, desire to move into a bigger house, neighborhood, school, etc.
The quality of schools near your potential home should be put into consideration if you already have or plan to have kids. The proximity of the school to the home and the quality of the schools’ academics are key. Even if there is no kid in the picture, houses located around good schools usually sell for a higher price.
While natural disasters are not planned, some environments are more prone to natural disasters than others. Ask for the risk of common disasters like hurricanes, tornadoes, floods, severe weather conditions, wildfires, storms, etc. Knowing this fact helps you to be prepared for eventualities if you decide to get the property.
The durability, low-cost maintenance, and energy-efficiency of a house are dependent on the material the house is made of. It is important to note that concrete block homes are the best for long term usage. When a house is made of concrete block, it creates a secure, healthy, and comfortable environment for living.
Changing the roof of a house incurs huge expenses, so the roof of any property you want to buy should be in a good and durable condition. Roof style differs in beauty, durability, stamina, repair cost, etc. Decide on which one is best for your home.
Knowing how long the house has been put up for sale will give some insights to faults in the house, neighborhood, or the seller’s asking price. These insights will make for easier negotiation.
You should ask for the previous bills of the last inhabitants of the house. Asking for the property tax and utility bills will help you figure out if you can afford the house and the mortgage.
A realtor’s experience allows them to give advice about the property and future potential of the home. Take due advantage of their expertise and experience.
Before settling for a property, double-check all the facts you are provided with and do not make any decision under duress. Ensure the necessary documents are signed and protocols followed. Hire the best realtor you can afford and trust (like Matt Scannapieco)
All questions will be answered in very explicit words that are devoid of any ambiguity.
Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.