Making Sure It Is a Perfect Match
Finding the perfect match doesn’t happen only in the dating world. When entering the housing market, viewing homes is much like going on a first date —a brief introduction, a whirlwind of emotions, and tons of uncertainty about whether this is the “right” one.
Finding the perfect home is all about picking the right choice for your lifestyle and budget. In fact, finding “the right one” is about asking the right questions and making an informed decision. To help with this process, here are a few questions to ask before your virtual or in-person house date…we mean, tour.
Why is the seller leaving or moving?
Understanding why the seller is moving gives you insight into how motivated they are and the overall status of the home. If the seller is downsizing now that their children are grown, there is a lot to learn from that key piece of information.
- They enjoyed the home and neighborhood enough to raise a family.
- They are only moving because they no longer need the space.
- They may be more swayed by an offer that has a personalized letter to show your love of the home.
How long has the house been on the market?
The longer a home sits on the market, the more motivated the seller is once an offer is presented. Often a home that is priced too high will result in multiple price reductions and create a situation where a better deal may be negotiated.
Were there any major renovations to the home?
Understanding a home’s renovation history gives a glimpse into the listing price and the overall condition of the home. Always make sure to ask if the current owner has done any major renovations or if they modified elements of the home over the years.
How old is the home, structural additions, HVAC, appliances, windows, roof, etc?
Knowing the age of all the major systems and renovations is critical to understanding how long they are going to work correctly and when items may need to be replaced. From knowing the lifespan of the roof to anticipating the life of the HVAC/water heater/appliances, this information will help to set a realistic budget for the home.
Age matters when it comes to the efficiency of a home as well. Buying a new(er) home comes with tons of perks. Not only do you know that everything should be in relatively good condition, but you also have the confidence that there is little to fix after you purchase the home. Buying an older home comes with more challenges and more opportunities for things to break.
Is the home price comparable to other homes in the area (comps)?
When purchasing a home, don’t get swept up in the moment and forget to do your homework. Ensure that you or your real estate agent pull the comps in and around your home to see if the price is justifiable.
Do you like the neighborhood?
Could I see myself living here now and in the future? If the answer is “no” then you have a problem. Drive around the neighborhood and take in the scene before you purchase a home. Make sure it is where you see yourself in the future and get a good sense of what it provides.
Are You Ready for the Home Buying Ride?
After you make a bid on the home (and it is accepted), there are a ton of things to think about and do. From the home inspection to the closing date, it is a whirlwind of emotions and information. Make sure you are ready for the home buying process because the due diligence period can be a bumpy ride. Want to read more about the home buying process? Take a look at a few more of our blogs:
At Oak City Properties, we have been helping those in the Raleigh area purchase and sell homes for years! Whether you are a family trying to purchase a home or an investor wanting to diversify their rental portfolio, our full-service property management company is here to help.
If you’re interested in learning more about our services or want to speak to one of our agents, give us a call at (919)-232-9222 or Contact Us. Feel free to also check out our website at oakcityproperties.com.