Here Are 8 Key Questions to Ask When Buying a House

There are many factors to consider during the home buying process. After all, buying a home most likely will be the biggest purchase ever in your life.

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After signing all the closing documents for my first home, I recall the escrow agent shaking my hand, saying, “Congratulations. You’re in debt.” We all laughed together.

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Learn from my mistakes, and be sure to ask these eight important questions when buying your first or next house.

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1. How Much Can I Afford?

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Expect a house in an appreciating area with a good school district to have higher property taxes than houses in the opposite condition.

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Typically, closing costs are between 2% to 5% of a house’s purchase price. So, for a home for sale at $250,000, the closing costs would be at least $5,000 ($250,000 x 0.02).

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Usually, people sell their homes to upgrade to a bigger house or downsize because they are empty nesters. Another reason is their employer is relocating them to another city for work.

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5. What Items Are Staying With the House?

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Here Are 8 Key Questions to Ask When Buying a House

There are many factors to consider during the home buying process. After all, buying a home most likely will be the biggest purchase ever in your life.

After signing all the closing documents for my first home, I recall the escrow agent shaking my hand, saying, “Congratulations. You’re in debt.” We all laughed together.

Learn from my mistakes, and be sure to ask these eight important questions when buying your first or next house.

1. How Much Can I Afford?

This question may seem to be the most obvious every potential homebuyer should ask. But, unfortunately, it’s not unheard of a person falling in with a house for sale without looking at their finances.

Expect a house in an appreciating area with a good school district to have higher property taxes than houses in the opposite condition.

2. How Much Are Property Taxes?

Typically, closing costs are between 2% to 5% of a house’s purchase price. So, for a home for sale at $250,000, the closing costs would be at least $5,000 ($250,000 x 0.02).

3. How Much Are Closing Costs?

Usually, people sell their homes to upgrade to a bigger house or downsize because they are empty nesters. Another reason is their employer is relocating them to another city for work.

4. Why Is the Seller Leaving?

5. What Items Are Staying With the House?

Buyers shouldn’t assume everything they see comes along with the house. Sellers stage their homes to help convince potential homebuyers to make an offer on their house.

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