First of all, congratulations! The fact that you are looking at this blog means you are embarking on your journey of purchasing a home! This is a big step— not only is it an investment in your future, but it will also help define how you live, where you work, and how your potential future family will experience the world around them for years.
We know that buying a house can be scary. Trust us, we have been there; it’s a life-changing experience with a whirlwind of emotions, from excitement to uncertainty. Whether you are a first-time homebuyer embarking on this adventure with wide-eyed wonder or a seasoned real estate enthusiast seeking your next dream abode, emotions can arise and swirl all the same.
Do not fret, though. That is why we are here! To make the most informed decision and ensure a smooth transition into homeownership, you will need as much knowledge and insight as you can get— our rule is that you can never have enough knowledge when it comes to buying homes. The most potent tools in this arsenal of knowledge are the questions you ask.
Each question is a key that unlocks valuable insights, empowering you to make decisions that align with your dreams, goals, and financial well-being. Thus, read on to find out what and why we recommend it!
Question #1: Why are you selling?
This is arguably one of the most important questions you should be asking when buying a new home. It’s not merely a question of curiosity but a strategic inquiry that can significantly impact your approach to the deal. Consider, for example, if the seller is relocating due to their boss relocating them to a new city or because of pressing family issues, they might be pressured to sell quickly, potentially creating room for negotiation on price or terms— how great for you!
On the other hand, if they upgrade to a larger home or downsize due to retirement, their timeline might be more flexible, but they may also be less inclined to lower the price. As such, know your information and use it accordingly.
Question #2: Are you open to cash house buyers?
Cash house buyers have become increasingly prevalent in today’s real estate market. Cash buyers are individuals or investors who can purchase a property without needing mortgage financing. Asking the seller if they are open to cash house buyers can be valuable, especially if you fall into this category.
Cash buyers often have the advantage of faster transactions, as they don’t need to navigate the mortgage approval process. Knowing whether the seller is open to cash offers can impact your negotiation strategy and potentially give you an edge in a competitive market.
Question #3: How long has the property been on the market?
Buying a house is much like a game of poker: you want to know and read as much as you can before making a decision, and knowing how long the property has been on the market is the next best information you can have. A property that has lingered on the market for an extended period may raise red flags: it could be overpriced, have hidden issues that deter buyers, or suffer from ineffective marketing.
On the other hand, a relatively new listing might indicate high demand, meaning you could face competition from other interested buyers. Knowing how long the property has been listed allows you to gauge its desirability and adjust your negotiation strategy accordingly, whether leveraging its time on the market for a better deal or preparing for a competitive offer.
Question #4: What is included in the sale?
Who doesn’t love a little extra oomph to a sale? While, at first glance, the answer may seem relatively straightforward, there is much more at play here. Understanding which fixtures, appliances, or furniture items are included in the sale is critical to avoid feeling like you got the short end of the stick when purchasing the home. This inquiry delves into the nitty-gritty of the deal, ensuring that everyone involved has a clear and mutual understanding of what’s being transferred with the property.
After all, the last thing you want is to assume you’re getting that gorgeous chandelier or state-of-the-art refrigerator only to discover they are leaving with the seller! By clarifying what stays and what goes, you can set proper expectations and potentially negotiate for items you want to include in the sale.
Question #5: Have there been any recent inspections?
While it may seem like it at first glance, the question of recent home inspections goes beyond a simple yes or no answer: it can reveal much about the property’s condition and any potential issues (both things you would want to know!).
By inquiring about inspections and requesting a copy of the inspection report, you are essentially giving yourself another tool in your homeowner’s arsenal, as this report can reveal issues that may not be immediately visible and give you an upper hand in negotiating repairs or a fairer price. It is an opportunity to assess the property’s overall health and address any concerns before you seal the deal, ensuring you’re not walking into a home with hidden surprises.
Question #6: What’s the neighbourhood like?
Not everyone will be right for every neighbourhood, and not every neighbourhood will be right for everybody. When you ask about the neighbourhood, you’re opening the door to a wealth of information that can shape your future lifestyle. It’s not just about safety, although that’s undoubtedly a top concern; it’s also about amenities, how you think you will fit into the community, and the overall ambiance.
Inquiring about the neighbourhood allows you to envision your life there – are there parks for your kids, cafes for your morning coffee, or a vibrant nightlife scene? It’s a question beyond the property’s walls, helping you determine if it’s the right place for you and your family to thrive.
