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The 6 Best Questions to Ask When Buying a Home

December 29, 2021 | By Reef Merhi

Table Of Contents

A home is the biggest purchase most people will make, so it's important to go into the situation prepared. There are many things a homebuyer needs to look for and consider before signing on the dotted line.

Texas United Mortgage group works with first-time and repeat homebuyers. We know there are plenty of questions that come up during the process of setting a budget, getting preapproved for home loans, and ultimately closing on a new house. To get the critical answers you need for a pleasant experience (and avoid mistakes), here are the six best questions to ask before buying a house!

young woman has a question

1. What is My Budget?

When thinking about how much to spend on a first home, it's essential to consider not just the purchase price of the house but also the additional expenses that come with homeownership. For example, first-time homebuyers should factor in the monthly cost of heating and cooling your new property, along with insurance and repair costs. 

Buying a home that you lovebut exceeds your budgetcan leave you without the funds you need to make the monthly mortgage payment for your FHA loan. If you're not sure how much house you can afford or how to estimate actual homeownership costs, one of the best mortgage companies Texas offers can help! 

2. Why is the Seller Leaving?

Before making an offer on a house, it's crucial to fully understand why the current owners are selling. For example, a seller who is leaving because they lost their job or are retiring may be willing to negotiate on price. On the other hand, if they want to move closer to family, now may not be a good time for you to win a bidding war on that specific house, as there could be multiple offers on the house. 

It's also important to consider the seller's circumstances when remodeling your new home. Renovations completed before you bought the house may be expensive to change now! On the other hand, a fresh coat of paint and a few new light fixtures might give you a lot more bang for your buck than a shiny new kitchen sink at resale value. 

3. How Old is the Roof?

Ideally, homebuyers will have completed an inspection before making an offer on their dream property. However, even if there are no significant issues with the roof or plumbing, it's good to know how old these items are so you can get replacements scheduled before moving in.

Homeowners will want to know how much longer the roof and appliances should last. Replacing a rooftop before it starts leaking is an excellent investment and may give you enough wiggle room in your budget to add some unexpected upgrades. 

4. What Are the Recent Sale Prices for Other Homes in the Neighborhood?

When shopping for a house, it's important to not just look at the listing price of nearby properties but also the final sale prices. Home values can fluctuate significantly from one neighborhood or city to another--even when everything else about the home seems similar!

It's also beneficial to consider recent sales in determining whether to make an offer on a house and how much that offer should be. If several homes in the immediate area have sold in the past few months, you might be able to negotiate a lower price if you offer less than the list price. On the other hand, if this house is similar to those recently sold for more money, it might be smart to write an offer slightly higher than the asking price. 

5. Are There Any Health or Safety Hazards?

As you close in on one of the dream homes that fit your budget and needs, it's important to do thorough research on potential hazards before making an offer. For example, homebuyers need to know about possible structural problems because they can increase insurance premiums and potentially cause damage in a storm. Other issues like a moldy basement may not present themselves right awaybut could cause serious health problems down the road! 

6. Are There Any Problems With the House?

Another important tip for homebuyers is to consult a professional when they find something strange during an inspection. For example, if pipes appear to be leaking, but there aren't any signs of water damage or mold, this might indicate a larger problem like pest infestation or rotting wood! 

If you discover significant issues with a home, work with your real estate agent to negotiate repairs or lower the price. However, it might be best to reconsider a house with serious problems requiring costly repairseven if the sellers significantly reduce the price. 

couple sitting on floor in lounge holding keys to new home

Ask Plenty of Questions and Work With an FHA-Approve Mortgage Lender

Buying a new home is a significant investment! Don't hesitate to ask plenty of questions along the way to protect yourself from buying a home that isn't a sound investment. When you're ready for home loan preapproval for FHA loans, VA loans, or conventional loans, the Texas United Mortgage group is an equal housing lender and here to help! Reach out to a loan officer with questions about mortgage loan applications or who can qualify for an FHA loan. 

Our free "First Time Home Buyers Guide" helps buyers navigate the process! Download a copy today.


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