Your real estate agent has shown you several homes and you’ve found the one that you believe is the ideal fit for you. It’s beautiful and you can see yourself hosting the perfect dinner party thanks to your new spacious kitchen.
Despite your excitement and how beautiful the home is, there are a few questions that you need to ask before signing any documents and purchasing the home. Whatever you do, don’t buy a home without asking these five crucial questions.
1. Is the Home in a Safe Location?
Location is everything, especially when you’re about to make a thirty-year commitment. Before you buy a home, you should consider its location.
How is the neighborhood? Is there a high rate of crime? What about other factors that may make the location unsafe? Is it near a refinery or correctional facility?
Is the home near a busy freeway? Will noise be an issue?
2. Will the Home Pass Inspection?
Before buying a home, make sure that it passes inspection. Hire a reputable inspector to do a detailed inspection of the home’s interior and exterior.
You also want to ask the inspector serious questions about the state of the roof, plumbing, and electrical wiring. How old is the roof? The plumbing? The wiring?
If the home comes equipped with appliances, inquire about the age. Test any appliances to make sure they work correctly.
3. Can You Afford the Home?
You may be tempted to purchase a home that is just out of your price range. Before you do so carefully think about all of your expenses and if you can afford it.
Not only do you have to pay the mortgage, you’ll need to pay property taxes and home owner’s insurance as well. Can you afford these payments alongside your utilities and other bills?
4. Does the Home Suite Your Needs and Wants?
A home may have the most beautiful kitchen, but if it doesn’t have everything you need it’s advisable not to make the purchase.
Consider the needs of your family. Do you have children? Are there enough bedrooms and bathrooms for your family to be totally comfortable?
Is the home too big or too small for you? Large homes require more maintenance. Who will be doing the cleaning? If there is a large backyard, who will be mowing the lawn?
5. Does the Home Have Resale Value?
Unless you’re a psychic, then you’re unable to predict the future. Several years may pass and you may decide that you need to move. In that case, you want a home that will increase in value. Is the home in a popular area of town? If so, the value of the home may increase considerably.