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10 questions to ask before you buy a house

Regrob presents the most important questions which the buyer need to ask himself before buying a house.

If you answer them correctly , they would eventually help you take a more informed decision about your home purchase plans.

1.What is this property worth in today’s market ?

You need to do a proper evaluation of the property before agreeing in the price asked by the seller or realtors. You need to be lucky enough to get a house, which is undervalued by the seller. In majority of the cases it is the other way round , so better go for Regrob’s certified real estate agents.

2.Can I make the needed home renovations or additions?

Different locations have different local issues , so try to know them if you want to have some add-ons attached to your house . Sometimes adding a safety channel for your car , might be resisted by the local authorities ; this might even hold true for amending your terrace.

3.Is renting or buying a better option ?

You need to take a lot of factors into consideration, before deciding whether to buy a house or take it on rent. Depending on your condition , you should take the decision of buying or renting. If you have lot of debts and lack habit of saving , then renting is the best option for you.

4.What is the neighborhood’s crime rate?

When you read newspaper , the majority of it is covered with the crimes happening in the city. So just go through the facts available and consult the neighbourhood people , whether the place is safe enough to live or not

5.Why is the house for sale ?

It is important to know the motivation of the seller. This might be helpful in decision making process. Sometimes even small facts can be influential in shaping important decisions. This is the question, which should arouse in the mind of skeptical buyer.

 6.What home inspections are available?

It is on the safer side to perform as many inspections as possible. The suggested ones are Sewage , Sewer Line, pool and spa, Geological and drainage inspection. You can also check whether the smoke detections are  properly installed or not.

7.Are their any issues with property , land or neighbors property?

Sometimes we need to do independent research, since we cannot rely completely on the agents. Even agents are human beings and to err is human. If the price of the house is unexpectedly low, then we can certainly put the house on scrutiny.

8.Why am I buying ?

The answer of this question must be kept simple.If it is your dream house then price is secondary to location and amenities; in case the house happens to lie in the category of business prospects   then the only factor to be considered is price. It is crucial to fall into one of the categories and certainly it is not safe to be in both categories.

9.How long has the property been on the market ?

If the property has been more than six weeks , assume that something is certainly wrong with it. Ask if the property was taken to auction and failed to sell. Somehow if the answer comes out to be yes , then you need to deeper your suspicion.

10.Can I afford to buy this property ?

Buying a house is an expensive process and it has to calculated that whether or not you will be able to pay the EMIs. The biggest question is that whether you will be able to continue your same lifestyle or you will have to compromise with it after making the deal.