Questions To Ask When Buying A House

Home buyers often find themselves in uncharted territory when they decide to embark on the home buying journey. Whether it be walkthroughs of potential homes, working with a real estate agent to craft an offer, completing the mortgage application or another step in the process, you’re likely to encounter situations you’ve never dealt with before.

The best way to avoid common home buying mistakes and have a positive experience is to ask questions. Luckily, plenty of knowledgeable resources will be able to help you find answers.

Below, you’ll find a checklist of all the questions to ask when buying a house so you can pursue homeownership goals with confidence.

10 Questions To Ask Your Agent Or Have Them Ask The Seller’s Agent When Buying A House

Your real estate agent will be an important resource for you during the home buying process. They’re there to answer your questions and advocate with your best interests in mind. The seller can also be a great source of information for answers about a specific house.

Below are a few questions to ask your agent or have them ask the seller’s agent on your behalf before you buy a home. Keep in mind that buyers don’t typically communicate directly with the seller or the seller’s agent. So it’s best to let your agent and the seller’s agent do the negotiating.

1. Are There Any Known Problems With The House?

It wouldn’t be ideal to purchase a home only to find out it needs major repairs after you’re moved in. During the home buying process, be sure to ask about any known problems with the house. Depending on the state you’re buying in, a Seller’s Disclosure may be legally required. Sellers may disclose potential red flags such as foundation damage, mold and water damage.

You can also work with a professional home inspector. An inspector’s job is to look for anything wrong with the house. Purchase agreements often include an inspection contingency. This allows a buyer to negotiate their offer or back out altogether if the inspector uncovers any major issues.

2. Are Homeowners Association (HOA) Fees Required?

Many neighborhoods are managed by a homeowners association (HOA). An HOA is a community organization that oversees and serves the neighborhood. Membership is required if your home is in a community with an HOA.

An HOA sets regulations that may limit what you can do with your property, and membership fees are required. HOA fees can add up to several hundred dollars a month or year, so you’ll want to know upfront if you should plan for this expense.

3. Is Additional Insurance Required?

It’s also important to ask if any insurance is required beyond standard homeowners insurance coverage. Owners of homes in flood zones often must purchase flood insurance, for example.

Extra insurance may also be required in areas prone to natural disasters or other hazards, like earthquakes or fires. Find out whether any add-ons are required or strongly recommended for homeowners in the area.

4. Is The Home Being Sold ‘As Is’?

When a home is sold “as is,” the seller declares they won’t make any repairs, renovations or improvements to the house before closing. In some cases, buying a home as is isn’t a problem. But if the house has major issues, it could cost you thousands to make repairs. If the home you want is being sold as is, order a home inspection to learn what repairs you might be facing.

Depending on the type of loan you have, you may not be able to buy an as is home. For example, to qualify for a Federal Housing Administration (FHA) loan, the home must undergo an extra thorough appraisal. This features an inspection that confirms the home is structurally sound and safe before the lender can approve the loan.

5. Which Appliances Are Included In The Home Sale?

When you walk through a home, it’s likely the major kitchen appliances and washer and dryer will still be there. But that doesn’t necessarily mean the seller intends for them to be a part of the sale.

Before moving forward with your purchase, ask the seller which appliances – if any – will be included in the sale. If the seller plans to take the appliances with them, it may be worth it to negotiate a lower price. This is because you’ll have to pay out of pocket for any new appliances.

6. How Long Has The Seller Lived In The Home?

For a couple of reasons, it’s worth asking how long a seller has lived in the home. First, if the seller has been in the home for many years, they can probably share a lot about its repair history. That might include appliances they’ve replaced and improvements they’ve made.

It’s also important to know whether the home has a high turnover rate for homeowners. If more than two or three people have owned the home over the past decade, it may be worth exploring why. Is the house or neighborhood the problem or is the frequent turnover simply a coincidence?

7. How Long Has The Home Been On The Market?

It's equally important to ask how long the home has been on the market. The longer a home sits on the market, the more curious you should be about why the house isn't selling. Even more critical is finding out if any offers have been made and fallen through. Seek to uncover what went wrong.

The longer a home has been on the market, the more motivated the seller will likely be to make a deal. If you have the funds to make any repairs that caused the holdup, you may be able to negotiate a lower sales price.

8. What’s The Property Tax?

Your property tax bill is one of the largest new cost-of-living expenses for first-time home buyers. It can often add up to thousands of dollars every year.

Before buying a home, find out how much you’ll owe in annual property taxes. Figure this out by multiplying the home’s most recent assessed value by the state's current property tax rate. Once you’ve estimated your property taxes, compare that amount to the local, state or regional average. Then you can determine whether it’s a reasonable amount.

9. When Was The Home Last Inspected?

When you’re buying a home, a home inspection is critical. Inspections aren’t always 100% accurate because some issues can’t be seen by the naked eye. But inspections can still offer some peace of mind.

Be sure to ask whether the home was recently inspected or find out the last time it was inspected. Some experts recommend homeowners inspect their home approximately every 5 years.

If the current homeowners have never had a home inspection, it could signal that underlying issues have festered, making your inspection even more important.

10. Are There Any Other Offers On The House?

In a competitive housing market, it’s fairly common for a listed home to get multiple offers. In fact, it’s become the norm.

If you’re planning to make an offer, ask your agent to find out if the seller has received any other offers. Their answer may help guide your offer and provide insight into whether you might be heading into a bidding war. Bidding wars are favorable to the seller because the seller can ask for more money and possibly waive contingencies. This can be risky for a buyer.

6 Questions To Ask Yourself When Buying A Home

In addition to what to ask your agent, ask yourself the following questions to ensure you’re making the right decision.

1. Can I Afford This House?

Before you start considering homes, take a close look at your finances. Review your monthly bills and estimate how much you can afford to pay each month toward your mortgage and new living expenses.

Also confirm your ability to afford the down payment and closing costs. A 20% down payment isn’t a requirement, but it helps you save on your monthly mortgage payment. The more you pay upfront, the less you’ll pay over time in mortgage interest.

Many lenders will accept a 3% – 5% down payment. But if you put down less than 20% on a conventional loan, you’ll pay a monthly private mortgage insurance (PMI) fee.

Closing costs are another major expense associated with buying a home. Closing costs typically equal 3% – 6% of the total loan amount. So you’ll need enough money saved to cover your closing costs and down payment before deciding to buy.

2. Does This House Meet All My Needs?

Before you start the home buying process, make a list of everything to look for in a house. This includes square footage, location and the number of bedrooms and bathrooms. Next, split your list into wants and needs.

For example, maybe you’d prefer a home with four bedrooms, but three is a must-have. You can automatically eliminate any homes with fewer than three bedrooms. Knowing just what you need from a home will make it far easier to take a pass on homes that don’t check all your boxes.

3. Is The Location Close To My Job And Loved Ones?

Consider a home’s proximity to places you frequent. If you have a job outside the home, calculate what your commute would look like and whether it fits with your lifestyle.

Think about how long it would take to drive to see loved ones or reach your favorite grocery store. And check for any nearby landmarks that might cause heavy traffic and increase your commute time.

4. Can I See Myself Living In This Neighborhood?

It’s critical that you research a neighborhood ahead of time to determine whether it’s a good fit. First, consider the vibe of the neighborhood and whether it has amenities you may prefer, such as sidewalks, bike lanes and parks. Next, when you visit the neighborhood, pay attention to the activity. Do you see neighbors socializing? Do people feel comfortable letting their kids play in the front yard?

Other factors to consider about the neighborhood include:

• Its proximity to schools
• Nearby grocery stores, restaurants and other amenities
• The neighborhood crime rate
• Average neighborhood home price

5. Is This House The Right Size For Me?

For many people, buying a new home means upgrading their space. But some people may move into a similarly sized home or even downsize to a smaller home. In the latter case, ask yourself whether all your belongings will fit.

Pay attention to the storage space available in the home. If you’re unsure you’ll have room for your belongings, ask yourself whether you’d be willing to get rid of some items or pay for a storage unit to store them.

6. Will This House Work For Me Long-Term?

Ask yourself how long you plan to stay in the home. This will help ensure the house will meet your needs throughout your stay. Maybe the home is big enough for your family today, but will it be big enough in 5 years? Is there room to expand your family if you so desire?

If you plan to retire in the home, it’s also important to consider the home’s function. A multistory house might seem attractive when you’re younger, but stairs may become more challenging as you grow older.

What Questions To Ask Before Buying A House: FAQs

Still wondering what to ask when buying a house, or where to start? Read on if you have unanswered questions.

What else is there to ask when buying a house?

This article features an extensive list of important questions. But you may still be unsure about some home buying topics. Here are some additional questions to ask when buying a house:

1. How much have other homes in the neighborhood sold for?
2. Do I need to get mortgage preapproval?
3. Is now a good time to buy a house?
4. What are current mortgage rates?
5. How old is the roof?
6. How much do utilities cost?
7. Are there any liens on the property?
8. Are there any easements on the property?
9. Is the area prone to natural disasters?
10. Will I need to hire a moving company?

What are some questions to ask when touring a house for sale?

When touring a home on the market, you’ll need all the information you can get before making an offer. Here are a handful that can help you understand the home’s condition and whether you should bid:

1. Can I turn on the faucets to ensure the water is running properly?
2. When was the house built?
3. What’s underneath the carpeting?
4. Where do the property lines start and end?
5. Are these appliances covered by a home warranty?
6. What are the dimensions of this room?
7. What’s been recently replaced?
8. Are there any additions?
9. What is the sale history of this house?
10. Is there any evidence of water damage?

What are some questions to ask before closing on a house?

With regard to closing, you’ll have the opportunity to ask for various details. Ask these questions for added clarity and full transparency before signing on the dotted line:

1. When is closing day?
2. Where is closing?
3. What documents do I need to bring?
4. How much will my monthly mortgage payment be?
5. What are my loan terms?
6. What’s my interest rate?
7. Is any information on the Closing Disclosure different from my Loan Estimate?
8. What happens if I miss a mortgage payment?
9. How will I pay property taxes and homeowners insurance?
10. Who should I contact if I have questions after closing?

Who can answer my questions when buying a house?

Besides your agent, you can consult a real estate attorney, a tax attorney or your mortgage lender with questions. Each has a different role to play and different expertise to offer. More informally, friends and family members with home buying and homeownership experience should be able to give you advice.

The Bottom Line: Don’t Be Afraid To Ask The Tough Questions

Buying a home is a huge undertaking. It’s important to collect all the information you’ll need before making a firm commitment on the house for you. A trusted agent can help you answer many of these questions and help simplify the home buying process. If you’re ready to move forward with a home purchase, connect with a real estate agent today.