7 Questions to Ask Your Real Estate Agent When Buying a Home
Unless you're a real estate professional or have experience buying properties, the chances are there are a lot of things you don’t know about buying your first home. Real estate agents can make the process a lot easier, but you still have your work cut out for you.
The first thing you should do when buying your first home is make sure that the real estate agent you choose is right for you. It’s also important that you’re being an active buyer instead of passively being sold to.
Ask these seven questions during the home buying process to ensure you’re buying exactly the type of home you want:
How many previous owners are there? This ties not only into a house’s age, but if the property changes hands more than a crooked card player, it’s a big warning sign that your dream home might be more of a nightmare.
What work, if any, has been done to the property? Renovations can change the look and feel of a home for the better - if they're done correctly. It's important to know what work has been done and ensure that all renovations have been approved by the relevant housing codes in your area.
How flexible is the seller?There’s absolutely no reason to buy a home without negotiating as much as possible. However, if the seller isn’t open to negotiation, you might miss out on a house you really want by coming in under the asking price. Weigh the opportunity cost as find a happy place between how badly you want the home and how much you're willing to pay for it.
Why are they selling?You might not get an answer for this, but if you do you might be able to turn it into savings. For example, if the owner is relocating because they got a new job in another city they may be in a hurry to sell. This is good news for homebuyers because the seller is likely to accept a lower offer.
What’s the neighbourhood like? A good agent should know all the best neighbourhoods in the city. Ask if there there schools nearby? Inquire if there are a lot of college students and find out about local restaurants or bars in the area. The neighbourhood is a main contributing factor for enjoying life in a new home.
How much are utilities in this area? Houses are expensive both with both upfront costs and ongoing monthly expenses. Try and get an exact idea of what you’ll be paying to avoid stressing about bills every month.
Can we meet the seller in person? It’s always nice to meet the current owner of a home in person and get them to answer detailed questions about the living experience they’ve had with the place.
If you’ve taken my advice on how to find a good real estate agent, you should have no problem getting answers for these or any other questions. Part of an real estate agent’s job is to convey information to you in the clearest and most efficient way they can. Don’t be afraid to ask them about anything you don’t understand. It could end up saving you a lot of money when buying a new home.
Once you've found your new home, get an online quote for your new home insurance. Comparing prices will help you find the best deal in your area.