Key Questions to Ask Before You Buy a Home
Here are 8 important questions to ask your real estate agent before you make an offer on a home:
1. How long has the home been on the market? If the home is new to the market, you may have to act fast. If the home has been on the market for a while, that may be a sign that there are problems with the home.
2. Why are the owners selling? Although you’ll probably get one of the usual answers—needing more space, a job relocation, etc.—a different answer could be a red flag.
3. What is the sales history of the home? You’ll want to know if the home was leased in the past or if it was ever a bank-owned property. Also, as a general rule, the fewer number of owners, the better the overall upkeep and maintenance.
4. Are there comparable sales in the neighborhood? By looking at comparable sales in the area, you can get a good idea if the list price is fair and get a good starting point for negotiations.
5. Is the home a good investment? The area around your new home will be critical to how much your home rises (or declines) in value. Ask about future development, such as shopping and transportation.
6. Are all of the systems in good shape? It’s important for you to know if and when home systems will need to be repaired or replaced. Key areas include heating and air conditioning, roofing, appliances, and electrical systems.
7. What will the maintenance be like? Affording a new home isn’t just about your monthly mortgage payments. Ask your experienced agent if they think there are any high-cost maintenance areas that you may have to deal with.
8. What is included in the sale? Window treatments, lighting fixtures, washers and dryers, sheds, and outdoor items may not be included in the sale, so make sure to check with your agent.
For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988.
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