Buying a home comes with a lot of responsibilities and liabilities. When you buy a home, you are stuck with it until after you sell it successfully. Because of this, you must take extra precaution and try to ask as many important questions as possible before you close a deal with the seller or broker. Below are the questions you shouldn’t forget to ask when buying a home.
Can You Have a Copy of the Home’s Sales History?
It is important to know about how many times the home has changed hands over the years as well as for much the home sold for each time. This will let you know about your prospective property’s value fluctuations which can help you sell the home and negotiate fairly in the future.
What is the Cost of Monthly and Annual Utility and Maintenance?
No one wants a home that racks up utility bills as though the owners are made of money. The water, power, and gas bills should be disclosed as well as annual maintenance cost for you to gauge if you can truly afford the home.
How Much is the Property Tax?
Although the home’s value is the primary determinant of the property tax, knowing how much the current owners are paying is a good way to determine future expenses on the property.
Does the House Have an Unusual History or Has It Been Involved in Any Crime?
Any history of suicide, murder, or death should be disclosed by the broker or seller. Unusual history like appearing in a magazine, commercial, or movie should be disclosed as well. A home appearing in public media may mean a future privacy breach and a negative history can make a home difficult to sell in the future.
When was the Roof Last Fixed or Replaced?
A roof replacement can cost upwards of $10,000. The future homeowner should know when a huge expense like this may be due.
Does the Area Around the Property Come with Parking Restrictions?
Whether or not the home has a garage, it is possible that future visitors may need to park outside of the property. When this happens, the last thing you want is for your guests’ vehicles to get towed away.
Are There On-Going Warranties for the Kitchen Appliances, Garage Door, the HVAC System, and More?
Replacing any of the above can easily cost thousands of dollars. Having the warranties can save a lot of money down the road.
Are There Renovations or Additions Made by Past and Current Owners?
Upgrades can cost a lot. It is best to know which contractors worked in the house before and what they did more so if planning future additions or renovations.
Are There Any Issues with Sewage or Broken Pipes?
Although you can hire a home inspector, it is best to know these issues beforehand more so that the cost of repairs for issues like this can be equivalent to a sizable amount.
Are There Past or Current Pest Infestations?
Getting rid of rodent or insect infestation can incur a lot of time and money. Something like this needs to be disclosed rather than find out when it is too late.