One of the dreams that most people have is to buy and own a house and lot. Whether you plan to have a family or not, having a place you can call your own is truly rewarding. That’s probably the reason why many people work hard. Most of us hustle and save money to buy our dream house.
However, scouting for the ‘perfect’ home that could accommodate all of your requirements can be challenging. Whether a condominium unit or an apartment, you probably have specific points that could make or break a potential property you’re eyeing. In short, we are all looking for a property that best fits our lifestyle and needs.
It could be overwhelming if you were to do the house hunting alone or without guidance from a professional. That’s why working with the best real estate agents in the market is critical for you to find the best home. With their help, you can ask questions about the property and learn about its history.
When people say not to get into something without fully understanding it, they’re not lying. You surely wouldn’t want your first property purchase to be a disappointing one. After all, you saved so much of your money for this. To avoid that, you must take the opportunity to get to know the property with the help of a real estate agent. Here are six questions to ask your real estate agent before signing a property deal.
1. When was the property constructed?
When scouting for a property, many listings look brand new even though they’re not. Owners often redesign and renovate properties before listing them. Unfortunately, many owners take advantage of this and are not honest with the condition of their properties. If you’re not good at spotting this, it’s critical to ask when was the construction date of the house to your real estate agent.
When scouting for a property, try your best not to be deceived by its appearance all alone. Even though a property’s constructed well, the older it gets, the more likely it is to have some problems. So to save yourself from unnecessary expenses, ask your agent about the property’s age to have a brief of its history.
2. When did the owner list the property?
After knowing the age of the house, you should also ask when the owner listed the property. You might be wondering why? Because it gives you an idea of how many clients already considered buying the house but did not push through.
If a house has been on the list for a long time now, there are likely three possible reasons. First, the property is too expensive for its condition. Second, its location is unideal for most people’s preferences. Or lastly, it could be because the house is not in good condition.
Of course, you shouldn’t disregard that there are other reasons why people don’t like it. It could be as simple as them not wanting the house architecture. But if you think the property looks pleasing, but it’s still on the market for years now, consider one of the three choices as the reason it’s still unsold.
3. Am I the first or second owner of the house?
Another critical question you should ask the agent is how many previous owners were there before it was listed again? As a potential buyer, you should know how many previous owners lived and managed the property to understand why people are reselling the house.
Your agent will also likely tell you about the previous owners. If they mention that the previous owners are accountants or work in the financial sector, it’s valid for you to think that they no longer see it as an investment asset. However, don’t push the idea that it’s because there’s a potential issue with the property.
4. What were the renovations made by the owner upon listing the property?
If the property you’re scouting is not brand new, ask your agent about the renovations made to the property. Again, if something is too good to be true, you have every right to speculate about it—especially if you’re about to spend so much on it.
As the potential owner, you should know which areas are new and which ones are original. By asking this question, you also get to ask why they needed to change those areas. Is it because of an issue? Or is it simply because they want to go for a specific style?
5. What are the best features of the property?
There’s a reason why you are checking the house that you are scouting with your agent. And so, ask your agent about the best features of the property. What features does the property have that make it in demand?
Likely, you already know its highlights based on its listing post. But I also suggest asking your agent about its best features aside from those you already know. Ask for their honest opinion about the features of the property and ponder about them.
Knowing other people’s perspectives will help you decide whether your opinions about the house are biased or not.
6. What’s one reason that would stop you from buying this property if you’re considering buying it?
Lastly, ask your agent what’s one thing that would stop them from buying the property if they were you. Since they’re selling the house, they know the advantages and disadvantages of the property well. Also, they’re experts in their field and understand the deal-breakers when buying a property.
Sometimes, even though a house seems to fit all of your requirements, one thing could change your mind. And so, asking this question to your agent could be the answer that would help you decide whether or not to push through with the property. If you agree with their reason, take the time to consider it and weigh its benefits, too.
Don’t be afraid to ask all your queries away.
Hopefully, these six questions I shared will help you communicate better with your real estate agent. More importantly, I hope the answers to these questions will help you decide whether to sign a property deal or not. Remember that buying a real estate property is a massive milestone in your life.
So, don’t be afraid to ask all your queries away. After all, the property could be your future home where you’ll spend the best moments of your life.
Bianca Banda is a writer for Bennett Property, one of the largest and most successful real estate agencies offering a full range of property services, including sales, leasing and development.