Did you know that almost half of first-time home buyers believe that the system is set up against them? This is from a combination of feeling overwhelmed by the process, lacking vital knowledge, and not knowing where to start.
However, it’s important to keep in mind that it’s possible to buy a house of your dreams without feeling lost. It all starts with knowing the right questions to ask your mentor or realtor so you can be equipped with the right knowledge.
Read on to learn the top six questions to ask when it comes to buying a house in Vancouver for the first time!
Integrity First Home Buyers understands that life is full of unexpected and sometimes difficult situations for homeowners in the York, PA, area.
1. What Do You Want in a Home?
This is one of the first questions you should ask yourself when it comes to looking at homes for sale. Beyond knowing your budget, you need to be able to identify the details that are necessary for your home purchase and details that you’re willing to be flexible about.
For instance, if you have a young family, purchasing a home near good schools and in a safe area may be at the top of your list. On the other hand, a two-car garage may be a must if you’re a carpenter or you want to keep your cars clean when they’re not in use.
Should you want to live in an apartment, you should check rental market trends in Fort Worth so you know how much to spend for rent.
2. How is Your Credit?
Credit can be a tough subject for many homeowners if you’ve never taken the time to look it up or improve it. For most loans, you’ll want a credit score of 620, but the higher it is the better.
Make sure that you know your credit score and strive to improve it before you begin meeting with mortgage lenders. Once you’re ready to find a mortgage lender, make sure you compare and contrast multiple lenders in order to find the best rates.
3. What Are the Imperfections?
When you’re looking at homes for sale, it can be tempting to make an offer right away on one that you find promising. However, the seller needs to disclose all of the major issues with the house, such as water or structural damage.
This is also why hiring a home inspector is so important–they’ll be able to find the minor issues that the seller may not have disclosed. Keep in mind that multiple minor issues can add up to major expenses for you in the long term.
If you still want the house, knowledge of those imperfections may help you when it comes to negotiating the price down.
4. Do You Want a Brand New Home?
Turnkey or new build homes are tempting because they’re already modernized and move-in ready. This means that they require little to no construction or alternation on your part, especially if you already like the paint colors, layout, and new appliances.
However, turnkey homes will always have a more premium price tag than period homes. Period properties may take longer to modernize and renovate, but you may end up saving money in the long run if you budget correctly.
5. Is the Seller Flexible?
Your realtor will help you get a good idea of how flexible the seller is. This is important if you’re trying to sell a home while at the same time purchase a home with the right timing. The seller may be looking to sell house in 7 days, meaning that they may accept lower offers because they want to close as soon as possible.
Beyond price, the seller may flexible when it comes to paying a part of closing costs, offering furniture, appliances, and more. Make sure you talk to your realtor about what you can negotiate and what you can’t.
6. How Much Room Do You Need?
It’s important to consider how much room you need now and how much you’ll need in the future. For instance, if you’re moving to a new house with a significant other and planning on having or adopting children, you may need more room later on.
It’s important to keep in mind that unless you’re used to touring homes, photos and square footage may not tell the real story about a home’s size. You’ll also want to get a feel for the flow of the layout, what kind of furniture you can fit into the rooms, and more.
Online virtual tours can give you a better idea of the home’s size. However, they can’t replace actually going to the home and walking around.
Buying a House: Don’t Be Afraid to Ask
When it comes to purchasing new homes, it’s important to keep in mind that no one is an expert overnight. Accept the fact that you’re new to the process and don’t be afraid to ask as many questions as you can about the process.
The best questions start with asking yourself about what you need and what can be negotiable. For instance, new families may want a good, low-crime area with good schools and room for a nursery. On the other hand, young professionals may want a downtown location that’s closer to the nightlife and their jobs.
Next, remember that even if you fall in love with a house, it still needs to pass an independent inspection. Your inspector will help reveal any flaws or imperfections that the seller forgot to disclose. From there, you can decide if you still want the house or whether it’s not worth the trouble.
Ready for more tips to get started purchasing a new home? Keep reading the blog for more strategies!