When you’re in the process of buying a home, there are so many factors to consider. Location, schools, asking price… the list goes on. Oftentimes, a good place to start is to look at your current home and what is and is not working for your family.
In order to get the most out of your next home, it’s essential to go into the buying process with a list of questions to ask. This will save you from becoming overwhelmed and missing important items you meant to address.
At BestMichiganHouses.com, we’re all about helping our clients through each step of the home buying process. We’ve done this a time or two, so we’re familiar with all the questions buyers typically have, including the ones they forget to ask. Below you’ll find important questions to ask before buying a home in Metro Detroit. Start your list now and then get in touch with BestMichiganHouses.com when you’re ready to start the search for your next home.
Ask These Questions Before Buying a Home:
How much did the seller pay? It might not seem relevant to the current transaction, but it will let you know if property values have gone up or down since the seller purchased the home.
How much does the seller owe? It’s best when the seller has a lot of equity when it comes time to sell. Buyers are less likely to have closing costs covered or additional repairs made if the seller is upside down on the mortgage.
How much have similar homes sold for recently? The appraisal will be based, in large part, on this number as it’s the best indicator of present market value. Your Realtor will provide a list of recently sold homes – or “comps” – for review.
How long has the home been on the market? We are currently in a seller’s market, which means homes don’t stay on the market long. If you come across a home that has been on the market 90 days or longer, try negotiating a lower asking price. Keep in mind, there’s probably a reason it’s been on the market as long as it has. It may be overpriced, or there may be issues hiding beneath the surface.
How old are systems and appliances? Major systems and appliances can come with a hefty price tag. It is vital to ensure everything is in good repair (your home inspection will shed light on this, too).
What’s the foundation? It’s helpful to know the type of foundation the home sits on and what that may mean for you down the road. For example: a “Michigan Basement” or crawl space make fixing certain issues, like plumbing or electrical, difficult.
What kinds of businesses are nearby? You’d certainly want to know if you were located close to a cement mixing plant or downwind from a garbage dump. Apartments and commercial properties can also lower values of surrounding homes.
How are the schools? The importance of a good school system cannot be overstated. It’s beneficial to buyers with children for obvious reasons; but if the schools are exceptional, this results in higher home values.
Are there sex offenders in the area? Keeping our families safe is our number one priority. That’s why it’s imperative to ask about sex offenders and other criminal activity in your prospective neighborhood. There are also many resources online where you can find this information.
What does your commute look like? Imagine finding out, after you’ve bought a house, that your 10 mile commute actually takes close to an hour because you didn’t take into consideration the traffic during rush hour. Scary, right? Make sure you’re aware of how your commute might change.
The reality of the home buying process is that there are hundreds of factors to consider and, in many cases, buyers have to weigh their options. To be successful, consider what is most important, or non-negotiable in your next home.
Bestmichiganhouses.com is a free browsing tool provided by Bittinger Team, REALTORS. As Realtors located in Canton, MI, you can depend on our experienced and reliable team to help you avoid mistakes and get through the process of selling your home. Contact us today!