Questions You Must Ask Before You Buy a House

Almost everyone wishes and saves for their dream home. The folly that most make is to go in for the first house they take a liking to only to realize later what all is not right with it when it is too late. If you are planning to buy a house, you can avoid such pitfalls by asking the right questions or finding a realtor belonging to that area, since he or she will be in the best position to guide you about it.

Questions to ask yourself

#1 What kind of house can you afford?

You may manage to take a home loan from the lender to buy your dream home, but if it is not within your budget, you run the risk of carrying a mortgage burden so enormous that it may become difficult to repay it in your lifetime. The simple thumb rule to follow is to take a mortgage that is not beyond 25 percent of your monthly salary.  You may use a mortgage loan payment calculator to help you determine the cost of mortgage you are required to pay monthly, as well as your entire loan.

#2 How much should you give as a down payment for the house?

Buying your house 100 percent cash down without a loan is the best option. This will avoid the burden of mortgage that you may keep repaying forever. If you cannot pay cash down for the house, the ideal amount for a down payment is 20 percent of the cost of the house to save yourself from paying private mortgage insurance. If this is not possible, pay 10 percent, but don’t go below it to avoid paying extra interest and fees.

#3 What will be your moving expenses?

Shifting into a new house from your old one incurs expenses. The further off your new home is, the more will be the moving expense. Cater to it or find out if the company where you are employed offers a relocation package to cover your costs.

#4 What kind of location are you looking for?

Many location factors may influence your buying decision. They may include distance to your workplace, quality of the neighborhood, nearness to family and friends, nearness to shopping places, quality of schools, etc. Do consider what all is important for you before you close the deal.

Questions to ask the Seller

#1 Why are you selling?

House sellers may have many reasons, but your aim of asking is to know if there is a scope for negotiation. If the owner is in a hurry to sell, there is a chance to bring down the price.

#2 How long has the house been on the market?

If the house has been on the market for a long time, say over two months, for whatever reason, it becomes ‘stale’ and makes the buyer suspect there is something wrong with it. This may work in your favor, as the seller may be willing to negotiate.

#3 What did the owner pay for his house?

This will indicate the local market trend, whether the prices have gone up or down. If the seller has bought it cheap, he or she will be more willing to agree to a favorable selling price. In case the seller refuses to divulge this information, you can always find it out from the Register of Deeds that keep public records.

#4 What will you get in addition to the house?

Of course, permanent fixtures, such as faucets, window blinds, cabinets, etc., come with the house. However, it is always better to get in writing what is included in the sale. Ensure what you see is included, such as sheds, wall-mounted sound systems, lighting fixtures, outdoor play equipment, etc.

#5 Are there any major problems with the house?

Some states ensure the seller discloses the current problems with the property through disclosure rules. Insist on it, since it will indicate whether you get saddled with the related problem in the future. Also, ask about any significant repairs and the age of critical components, such as roofs, plumbing, electric fitments, etc. that may need future repairs.


Buying a house is a significant investment in one’s lifetime. Ensure you get maximum information about the property you aim to buy before finalizing the purchase.

Shift Frequency © 2019 – Questions You Must Ask
Before You Buy a House

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