Buying a home is a huge step that requires a lot of preparation and thinking. Most first-time buyers make the mistake of falling in love with a home immediately and skipping all the formalities. But the process is an intricate one that must be done effectively and efficiently. A lot of money is going to be invested and put into buying a home, so you’ll want to make sure that everything works out well.
An estate agent can help carry the burden when buying a home. Because a lot of people are not familiar with the complex process, they can be guided by an experienced estate agent through it. To make a truly informed and proper decision, here are some essential questions to ask an estate agent.
What is the condition of the home?
During a home viewing, the house might look very well-maintained and presented in its best light. But photos or a quick physical viewing will not uncover any repair and maintenance efforts needed to be undertaken.
Make sure to ask your estate agent and the seller about the condition of the home. What is the history of renovations done on this house? What else needs to be repaired? How well are the utilities working? These are just a few inquiries that will help a home buyer figure out how much they will need to allocate for maintenance costs. And it will also be an essential factor when further negotiating the selling price.
What is the current situation in the locality?
Many factors affect the value of a home. Location is something that plays the biggest role. The smallest things such as neighbourhood demographics, upcoming construction plans, proximity to nuisances, etc. can significantly affect how much the home will cost X years from now.
Homebuyers must be made aware of these value-affecting circumstances. Ask the estate agent to tell you about the local trends. Are there any plans with the local neighbourhood that can affect us, as homeowners? This is an important question that will help you figure out how if you’re getting your money’s worth.
What is the lowest price the seller can accommodate?
Don’t be afraid to negotiate. Chances are, the asking price is the highest value the seller can get for the home. But they might be able to negotiate. Ask your estate agent how low you can go in terms of making an offer. This will help you calculate your expenses and make a better deal.
May we speak with the home seller?
Don’t get us wrong – having an estate agent will help you seamlessly go through the home buying process. They can even help with negotiations, owing to the fact that they know a lot about the local market trends. But even so, it’s still an advantage to be able to communicate with the home seller.
No one knows the house more than the people who lived there. Speaking with the seller directly can give you honest and valuable insights on the condition of the home. You’ll find out why they’re selling the first place, what maintenance efforts they undertook, what problems they encountered, etc. This will all come into play in helping you decide if this is the home for you.
Buying a home is a complex process that is affected by many circumstances. Make an informed decision by asking your Stratford estate agent anything you need to know to help you make a smart and informed decision.
