3 Questions to Ask Yourself Before Buying a Home
So, you think that you found the property that best fits your needs? Below are three questions to ask yourself that will help you make a very informed decision when it comes time to start looking for homes.
Are You Aware of the Monthly Costs?
Not only is there the cost of the down payment, but there are also the mortgage payments when it comes to owning a home. Have you also taken into consideration the cost of property taxes? When you are looking, look at the type of heating the home has and how much it will cost per month. If there are any maintenance costs associated with the home, what are they? When you are looking at potential homes, do not hesitate to ask the current owner if you can look at their bills so that you have a good idea of the recurring costs you can expect to pay.
Is there work that needs to be done?
A pre-purchase inspection can help you along with this step and give you an understanding as to how much work might need to be done on the house. When you are looking around, ask about the work that needs to be done soon, some of this work might be costly, such as replacing the roof or fixing old plumbing.
Have You Planned for Additional Costs?
There are several start up costs when you become a homeowner. One of the most important ones is an inspection of the property. There are also a few fees when it comes to buying a home. Costs like notary fees, sales tax if it is a new property, the transfer tax and property tax adjustments.
Real estate brokers are experts in the field and are there to support you and guide you throughout the process and will help you with asking the right questions. They will accompany you in your search, analyze the important documents and if necessary refer you to any other professionals.