Questions a Buyer Should Ask About a Property Part I

As a real estate team, a big part of our job is preparing our clients for the home-buying process. That includes knowing which questions to ask potential sellers, so you can make sure that a home you buy is going to be perfect for you for years to come. After all, when you look at a beautiful home online it’s easy to start envisioning your life there, but you have to look at all the details about the home – and the neighborhood – to get the full picture.  

That’s why we’ve created this guide for the most important questions you should learn the answers to about a property you are interested in. We’ll start with questions related to the condition of the home, since this information could have a significant influence on the final purchase price. 

What’s the History of the Home?

To get an idea of the home’s condition, start by learning what year the home was built, and when the last major renovations or repairs took place for each component of the home.

Depending on when a home was built, there are certain aspects that need to be checked out. If was built in the 90s, you want to see when the roof was last done and see what condition it’s in. If it was built in the 70s, you are going to want to check the plumbing (PVC pipes didn’t become common until the 80s and homes in the 70s with cast iron pipes could have an expensive repair if they’re encased in the foundation. And of course, you want to see the age of things like the HVAC unit and the water heater so you can accurately determine when maintenance (or replacement) is going to be needed. 

Are There Any Major Issues With the Home?

Next, it’s time to determine if there are any major issues with the home, or problems that need to be fixed in the near future. 

To be clear, a minor issue is something that can be fixed relatively easily, like a leaky faucet or a door that won’t close all the way. A major issue, on the other hand, is not easy or inexpensive to fix. Examples of major issue include:

• Structural damage to the foundation 
• Roofing damage
• Faulty electrical work
• Severe plumbing problems

If your seller reveals major issues, you can either choose to walk away, or factor the required repairs into price negotiations. 

How Old Are the Home’s Major Systems?

As you can see, several examples of major issues are related to the home’s internal systems: roofing, plumbing, and electric. Even if there are no disclosures, you still need to determine each system’s age and condition to determine how much time you will have before the system reaches the end of its lifespan.

What’s Included in the Sale?

Lastly, it’s crucial to make sure you know exactly what’s included in the sale. While built-in appliances like ovens and dishwashers are commonly considered aspect of the home, refrigerators, washers, and dryers are not always included in a sale. Some sellers also include certain pieces of furniture in their sale, while others might include no furniture at all. 

So, if there’s a certain part of the house you love, make sure it’s included in the sale. 

Now that you’ve obtained some essential information about the property, you can move on to the neighborhood: 

How are the Local Schools Rated?

Even if you don’t have kids, the rating of an area’s schools speaks volumes about its overall reputation and future trajectory. If the schools are highly rated, the area has a good reputation and is bound to attract more and more families and anyone else seeking a family-friendly neighborhood. 

Additionally, you want to look at the location of the schools – is traffic really high at school drop off or pick up? While something that seems small in the abstract, it can become very frustrating over the years.  

Is the Area Appreciating in Value?

One of the quickest ways to gauge an area’s growth is asking whether or not property values have increased as of late. Are houses in this area priced considerably higher than a few years ago? Factors that increase property values include safety, new infrastructure, and new commercial and residential developments. Translation: if property values are on the rise, this area could be getting a lot of attention from fellow homebuyers, property developers, and businesses alike. 

What’s the Crime Rate Like?

A neighborhood may appear to be perfectly safe, but the crime rate might tell a different story. Typically, a crime rate is measured by the number of crimes per 100,000 residents. All of this can easily be found online. 

Are There Any Upcoming Developments or Zoning Changes Nearby?

Zoning changes typically occur when property owners or developers want to use land in a way that is not currently permitted under existing regulations. This could mean building larger homes, or constructing apartment complexes in a place that previously only permitted single-family homes. 

So, this is another way to tell if real estate is expanding in this neighborhood to welcome a projected influx of new residents and businesses. 

What’s the Commute Like to Major Job Centers or Highways?

Much like top-notch schools and a low crime rate, a key component of a good neighborhood is easy access to where you go regularly. This is especially important if you’re going to be commuting for work. Is your potential home located near a certain highway that will make your commute easy? How long is your commute going to take in traffic? You’re going to be taking this route almost every day, so you’ll want to make sure it’s accessible, and more of an advantage than an inconvenience. 

This concludes our first round of questions for potential home buyers. In Part II of this series, we’ll explore questions related to the final stages of the buying process, like negotiating a reasonable purchase price. 

Are you ready to find the home of your dreams? If so, the Kern Team is happy to help. Harnessing our 20+ years of local expertise, we’ll show you how to make this journey as efficient and rewarding as possible. Give us a call today to schedule a conversation today!