If you’re on the market for a new house, it can be both exciting and exhausting looking for one. It’s therefore important to make the most of it so that you make a good decision in the end. Have a look at five important things you can ask about during a house tour below so that you make a final decision that you will be comfortable within the end.
Is There a Homeowner’s Association?
Before you start to imagine yourself and your family living in the home you’re looking at, it’s important to first find out if there is a homeowner’s association in the neighborhood. This is true especially if you’re one of the 78% of home buyers who say that the quality of the neighborhood is more important to them than the size of the home. Finding out if there’s a homeowner’s association is a good idea as it will help you know if there are any rules and regulations to follow, fees to pay, and what these fees will be towards. Knowing this will help you know whether you are comfortable staying in a certain home long before you get attached to it.
Why is The Owner Selling?
It’s good to know the reason why the owner is selling their house because it will give you a good idea of whether or not you want to buy the home. If they’re selling in order to move closer to a new job they got, to simply change their lifestyle, or because of other life commitments, it will be good to know this. You may be able to negotiate a discount if the seller is highly motivated to sell. You also don’t want to buy a home that the previous owner is leaving because of a reason that can affect you, such as issues with the structure of the home or problems with the area in general.
How Much do Other Homes in The Area Cost?
This is another important question to ask because you need to know the overall price so that you know you’re not paying an unreasonably high price. If the price is too high, find out if you can negotiate a lower price that will be sensible and fair. If the price is too low, this may not necessarily be good news because it may be due to a serious issue with the house which made the owner want to dispose of it and make some money while at it. Homeowners spend an average of between 1% and 4% of a home’s total value each year on maintenance and repairs, a percentage that tends to increase as the house gets older. For some perspective, a home valued at $200,000 results in repairs of at least $2,000 annually.
How Old Are Major Systems and Appliances?
Ask about the age of major systems in the home as well as appliances in general so that you have a good idea of how much longer their lifespan is. You will be able to anticipate major repair expenses and set aside the money to get them done in good time. You will also be able to know if the house’s price is worth it or if you’re going to have to pay more money in the long term.
Is the Home in an Area Prone to Disasters?
The fifth question you need to ask is whether the home’s area is prone to natural disasters like floods and earthquakes. Check the home against a FEMA map of known flood zones and do some research to find out the most popular insurance for people in the area. Doing this will help you take the necessary steps to keep your new home and family safe, such as getting adequate insurance cover and reinforcing the house or getting stronger windows and more. Note that colonies of mold can start growing after a mere 48 hours of water damage and check for signs of mold to know if the house has suffered water damage at some point.
Ask these five questions when buying a home so that you can make a sound investment. You will be glad to know that you got good value for your money.