For many people, homeownership is a significant milestone in their life. Not knowing the right questions to ask when buying a house is financially unwise.
This question may seem to be the most obvious every potential homebuyer should ask. But, unfortunately, it’s not unheard of a person falling in with a house for sale without looking at their finances.
Although the home’s purchase price may be attractive, it’s essential to account for property taxes because they vary from neighborhood to neighborhood.
Aside from making a down payment on the house, there are closing costs to complete the real estate transaction between the buyer and seller. These closing include an origination fee, title search, title insurance, and appraisal fees.
If the house has been sitting on the market for some time, it can make you question if recent home buyers have discovered something odd that you haven’t yet. So, be sure to ask!
Homes built decades old are not necessarily up to the house standards today. For example, there could be potentially hazardous threats in the house, such as lead paint or asbestos, that you would prefer to keep away from your family.