Top questions to ask before buying a home

Question: Dear Kari, My husband and I are getting ready to shop for a home. Are there certain questions we should ask before we commit? Answer: What a fantastic question, thank you. Buying a home is very exciting, but keep in mind it can be stressful because it's most likely the biggest financial transaction you'll ever make. In addition, there will be several decisions that will need to be made in a short amount of time. Finding the right home involves a lot of research about the local housing market, personal finances and to determine the best home that suits your wants and needs. The more information you can uncover about a specific home before writing up your purchase offer, the more equipped you'll be to make the right decision to either move forward or pass on that home. Let's look at some key questions to ask: · How long has the home been listed for sale? A high-average days on market can be less desirable for buyers. This can indicate there could be issues with the home or the seller is not a serious seller. · How much do homes sell for in the area? Your real estate agent will provide you current data on the home's value based on similar sold homes in the area. This information can help to understand if the home is priced correctly or not. · Are the homeowners aware of any reports, inspections, renovations, repairs or replacements on the home? Understanding the home's history can help clarify the conditions of the home. · Have there been any past insurance claims, safety hazards or any other problems with the home? If yes, this could be a time to negotiate repairs to be completed or ask for money credited back to buyers through escrow or cancel the purchase contract entirely. · Is the home in a flood zone or any other natural disaster area? If so, what extra upfront costs, ongoing costs are required and what other outlay of monies might accompany this home? Extra money might not be in your budget. · What is the age of the roof, furnace/AC unit, appliances and other major systems? This could be a very positive answer with a good outcome, or it could mean you will be shelling out several thousands of dollars for immediate necessary repairs. This might be the home to pass on or ask the sellers for money credited back. · Find out what the neighborhood is like? Drive through the neighborhood on different days and different times. Talk with the neighbors. They are usually willing to tell all the stories whether bad or good. Make sure it aligns with your preferences and lifestyle before making the decision to purchase. · What are the schools like? Even if you don't have children, the quality of nearby schools is something to consider. Homes in neighborhoods with better schools hold a stronger resale value. · Is there any water damage or mold? Sometimes, water damage is easy to spot, but it can also be hidden behind walls or ceilings. This can make you sick, and it can be very costly to remediate the problem. · How much will all the utilities and the ongoing monthly maintenance costs? · Find out what the heating, cooling, electricity, internet, water, sewer, trash, recycling, etc. would be. It is important to know what utilities cost in a typical month before you can decide if a house truly fits your financial budget. · What is included in the sale? Just because the home for sale advertises, the washer and dryer are included in the listing, it must be asked for in the purchase agreement, or it will not be included. If the homeowners are moving to a condo, you might be able to negotiate some of their personal items such as lawn mower, outdoor patio furniture, etc. This could save you some time and money. · Why is the homeowner selling? Perhaps they are selling to move out of state to be with grandchildren or forced to sell to follow their career. This could mean they are willing to come down in their asking price for a quicker home sale. · What is the current cost of home insurance and HOA dues, if applicable? · Does the home have Mello-Roos and how much is it? This is a special tax district in California, created to finance public infrastructure and services through additional tax assessments. Not all homes have this extra tax. · Has there been a history of crime in the neighborhood? If there has been several of these situations, this might not be the right home for you. · Are there any issues with the neighbors? Having loud or disruptive neighbors can impact your quality of life. It's important to consider the neighborhood's dynamics to provide a pleasant living environment. · Are there any plans for the neighborhood? Such as a new road being installed, new apartment building or a strip mall being built nearby. Not only will it impact your lifestyle, it will also impact the value of the home. Be wise to ask questions as soon as you can to help decide if you are making the best home-buying choices. I wish you the best of luck.