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Questions Every Buyer Should Ask |
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Monday, 31 July 2006 |
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Take this checklist along when you visit a home and talk to the listing agent. Make note of your own observations, watch for defects, and ask about anything you may not see on your own.
- What is the visible condition of the property? Poor exterior condition may spell problems inside.
- Does the house require major repairs or replacements? Major repairs, such as a new roof, can be costly. Consider these costs if you decide to make an offer.
- How old are the mechanical systems? Consider the cost of replacing older systems if you decide to make an offer.
- Has the house been well maintained? Ask if the sellers have kept any maintenance records.
- Where is the house located on the block? Corner lots can be spacious, but exposed to more traffic and noise. Interior lots can be quieter but too close to neighbors.
- How is the house sited on the lot? Be sure the area around the house is graded properly to provide good drainage.
- Are there noteworthy architectural features? Front porches, gables or other details add value to the property.
- Are there noteworthy landscaping features? Established trees, shrubbery and perennials add value to the property.
- What is the condition of the houses on either side and across the street? If neighboring properties are too run-down, they may affect your resale value.
- What is the surrounding neighborhood like? Look for evidence of a sense of identity, and pride of ownership in the other homes.
- How close is it to shopping and schools? Nearby services can also add value.
- Are there community amenities nearby? Parks or recreation centers can add value to the property.
- How long has the house been on the market? A long time on the market may indicate problems with the house or neighborhood that you need to know.
- Why does the seller want to sell? If there's a problem with the house or the neighborhood, assess the situation carefully.
Source: The Wall Street Journal Online
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