When it comes to making a purchase as big as buying a home, there are many important questions that you should have answers to before you buy.
A REALTOR® is a licensed and accredited real estate professional who subscribed to the NATIONAL ASSOCIATION OF REALTORS®’s Code of Ethics, and is extremely knowledgeable about real estate. When you’re in the market to buy a home, here are 6 questions about potential properties that you can ask your REALTOR® when you’re hunting for real estate.
Does this home need flood insurance?
Some homes are in flood zones and require additional costs per month for the insurance to cover any damage. Be sure to ask your agent to find out if the home is in a flood zone or not. This could be an additional cost to add to the monthly budget you need to know of beforehand.
What is the average cost of monthly utilities?
Ask your agent to find out the average cost of water, electricity or gas bills so that you can plan your budget accordingly. This can also tell you if the home is energy efficient or not. If the home is lacking sufficient insulation in the attic or under the house, your monthly energy bills can see an increase.
Is there a home warranty that comes with the purchase of the home?
Some sellers provide a home warranty that covers a variety of home costs within the first year of ownership. You also want to ask if there are any additional documents on existing warranties. This can save you time and effort should issue come up and you need to provide documentation of the covered warranties in question.
What plumbing issues are known and documented?
Ask if there have been any past plumbing issues that have been disclosed with the home. Keep an eye out for any aged trees that could cause issues with the underground plumbing in the front or backyard. Ask your agent to find out if there have been any past floods or plumbing issues that you need to be made aware of.
Will your cars fit in the garage?
This is a usually something that gets overlooked, but can be an issue if you have an oversized SUV looking to park in the garage. Some garages appear larger when they’re empty, so be sure to ask if you can try parking your car in the garage before you agree to the purchase.
Does this neighborhood require POA or HOA fees?
POA stands for Property Owner's Association, and HOA means Home Owner’s Association. Some neighborhoods require a yearly fee to each homeowner for costs to keep up neighborhood pools, landscaping, private roads, or various amenities. This is something that will need to be factored into your monthly budget. At NextHome Titletown, we require that all of our agents are members of the NATIONAL ASSOCIATION OF REALTORS®, so you can be assumed that our team of real estate professions are best equipped to answer your questions and act in the most ethical manner possible. If you’re in the market for a new home, please contact NextHome Titletown today at 617.657.9811 or email us at firstname.lastname@example.org.