10 Questions Every First-Time Home Buyer Should Ask at a Viewing!
It can be difficult to know what questions to ask when viewing a home that you’re considering buying. Here are 10 questions that every first-time home buyer should ask at the viewing.
It’s important to remember that these questions are general ones and may or may not apply to every situation.
So you should definitely tailor your questions to your situation based on what you want to learn from the viewing, and what information you need from the seller in order to make an informed decision about whether or not to buy the home.
1) Who owns the property?
The first question you should ask is who owns the property. If the owner is not the person giving you the tour, ask for their contact information so you can follow up with them later. It’s important to know who you’ll be dealing with when it comes to such a large purchase.
2) Why are you selling it?
It’s important to understand the seller’s motivation for selling the property. Are they looking to downsize? Are they relocating for work? Knowing their reasons can give you some insight into how negotiable they might be on price. If they’re eager to sell and won’t budge on price, that doesn’t mean it’s not worth considering.
3) Is there anything wrong with the property?
Before you start falling in love with a property, it’s important to ask the real estate agent if there are any known issues with the home. This could include things like water damage, pests, mould, or structural problems. If there are known issues, you’ll need to factor in the cost of repairs when deciding whether or not to make an offer on the property.
4) What improvements have been made to the property?
If you’re considering purchasing a fixer-upper, it’s important to ask about any and all improvements that have been made to the property. This will give you an idea of the work that still needs to be done, as well as how much it might cost.
It can also help you negotiate a lower purchase price. After all, if there are already significant repairs that need to be completed, you won’t want to pay full price for the home.
5) What repairs will be needed in the future?
Any home, no matter how new, will have repairs that need to be made eventually. But some homes will require more repairs than others. If you’re looking at an older home, find out what kind of repairs will be needed in the future and how much they are likely to cost. Be sure to get estimates from contractors before making any offers on a property so you know if it’s worth it or not.
6) Are there any leasehold issues?
If you’re buying a leasehold property, it’s important to be aware of the restrictions that come with it. For example, you may be limited in how long you can stay on the property, or what modifications you can make.
Asking about these issues upfront will help avoid any surprises down the road. What are your plans for renovations?: Renovations are an investment. They require time and money and they need to be considered before purchasing a home.
7) Will it is easy to sell once I’ve moved in?
It’s important to think about the future when you’re buying a home. Will your family grow? Do you plan on staying in the area for a long time? What’s the job market like? All of these factors can affect how easy it will be to sell your home down the line. Here are a few questions to ask yourself:
1. Is the neighbourhood in demand?
2. Are there any planned developments that could increase or decrease property values?
3. How difficult is it to get approval from homeowners’ association boards, zoning boards, and local government?
4. What’s the average age of residents in this neighbourhood?
8) What’s your pet policy?
Do you allow pets in the building? If so, are there any breed or size restrictions? How many pets are allowed per unit? Are there any additional pet fees?
9) How much notice do you need if I want to sell when my term is up?
If you’re planning on selling your home before your mortgage term is up, you’ll need to give your lender advanced notice. Otherwise, you may be subject to penalties, such as paying off the remainder of your mortgage in full.
10) Where is it likely to be worth more in the future – here or elsewhere?
It’s important to think about the future when you’re buying a home. Where is the neighbourhood likely to be in 10 or 20 years? Is it up-and-coming, or on the decline? Are there plans for new developments or gentrification in the area? All of these factors can affect your home’s value, so it’s important to do your research before making an offer.
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