Purchasing a Home FAQ
Purchasing a Home FAQ | Questions Every Buyer Should Ask | Buying a New Home
Here are a few questions every buyer should ask when purchasing a home.
Should I Get a Home Inspection? We are buying a new home, why do I need a home inspection? Although the builder falls under the jurisdiction of local town or city building inspectors, most officials do not have enough time to fully check the house out. If the builder has more than one home under construction, that makes it nearly impossible for him to personally monitor all phases of the construction. In addition, there could be problems with the home that are not considered code violations, but could prove to have serious consequences for the new homeowner. Should I get my new home inspected? YES!
Do I Really Need a Survey? A survey is a detailed map/plot of the general layout of your home/lot, contains all of your homes boundaries, maps out the home's buried utility lines and gives an exact location of your property with a lot/block description and may even contain degrees. If you buy or improve property without an accurate survey, you may discover that your house addition, the fence you built, or your driveway is located on your neighbor's property. A survey is not a mandatory service although it can prove to be very beneficial. So . . . you are looking at all the other fees and services you have to pay and think "Do I really need a Survey?" The answer should always be YES!
What Remains with the House After it Sells? As a general rule, the seller will be expected to leave behind all "fixtures," defined in most states as things that are affixed, fastened to, or an integral part of the home or landscaping. For example, lights and their shades (the sort that can't be unplugged and carried away), built-in dishwashers and other appliances, window shades/blinds, curtain rods, built-in bookshelves, and all trees, plants and shrubs with their roots in the ground. If there is anything in the home that you would like to make sure remains with the house, put it in the contract!
Which School System is This Home Zoned For? If the school system is critical to you and your family, check it out for yourself before you make the offer. Often there are homes that are right on the border when it comes to zoning and need to be verified. You can call the local school/zoning board and/or contact the school in the area where you are considering the move. They will need to know the exact address of the home you are considering in order to give you current and accurate information.
Can I Make a Change in My Finances? Even if you have good credit, there are things you can do to make lenders think twice before finalizing your loan. It's your responsibility to make sure that doesn't happen. For example, don't change your job before applying for a home loan. Don't change banks. Don't buy a car, truck (or any other form of transportation) or purchase furniture that you have to finance. Don't be late on your credit card payments or charge excessively. Don't make large deposits into your bank accounts. Don't co-sign a loan for anyone.
Although I mentioned only a few (out of the list of many) questions every buyer should ask when purchasing a home, I hope these tips were helpful.