Whether it is your first time buying a property or you’ve gone through the process several times, it is always good to have a refresher on what kind of questions you should ask when viewing a property for the first time. In the case of first-time homebuyers, some people can get overly excited about the house and just want to sign on the dotted line before getting a thorough breakdown of the property. This article will give you an idea of some very basic questions to ask before purchasing your new property.
How Long Has The Property Been For Sale?
This is a very important question to ask because whatever the answer is could mean you have an advantage or even a disadvantage when buying the property. If the property has been on the market a long time, one thing you might want to think about is why that is. More questions should be asked like if there is any significant damage to the the structure of the property or any other areas that are expensive to repair Another thought would be that if the property has been on the market long then the seller may be willing to go lower than the asking price to sell it.
What Did The Seller Buy It For?
Knowing what the buyer purchased the home for will help you understand if the value of the home went up or down since the last transaction. You may be able to identify where the market is going with this kind of information. It is very helpful to be able to understand that in a few years the value of the home will go up and you will have a larger asset than before.
How Old Is The Roof And What Kind Of Roof Is It?
A new roof can be an incredibly expensive fix for a new property. Before signing, you want to make sure you know how old the roof is and what the kind of roof it is. What material the roof has is very important because some materials last longer than others. Metals roofs last about twenty to forty years. Tile and slate roofs could last you up to fifty or even more where an asphalt or shingles roof could be anywhere from fifteen to twenty. Know how long the roof has been up and if there have been any leaks recently.