Top Questions to Ask Before Buying a Home

You should have been informed by your real estate agent about your market value,but if not, please ask. There is no right or wrong answer when it comes to buying a home, because you want to learn as much information as you can about the home you want to make an offer to.

Knowing the original value and comparing it with the current value will give you an idea about the market. If the home was sold five years ago, and the market has not drastically changed, there shouldn’t be much of a price difference.

Homes that have been on the market for six months or longer typically means that it is overpriced. It can also mean the owner may be willing to negotiate and lower the price.

The answer to this question will help you gauge how much money was used to improve the home, and how much they are expecting as ROI.

You want to have an idea of how much your monthly expenses will be, because you’ll also be paying a monthly mortgage.

You need to find out how much the closing costs are so you will not be surprised when you have to pay them at closing. Also, you need to know if the seller is willing to make concessions and pay some of the closing costs.

Before you sign on the dotted line of the contract, ask the seller if there are issues with the home. Don’t expect the seller to disclose everything, but at least you’ll have a general idea of what to encounter when you live there.

Though the appliances look new, it is always better to know when they were bought and if they still have warranties, because you never know when they’ll stop working.