Questions to Ask When You Buy a New Home

Questions to Ask When You Buy a New Home

May 15, 2020

Buying a new home is tough, there’s no debate there – but it really doesn’t need to be as difficult as we make it out to be some times. If you’re working with the right people, you have a solid head on your shoulders, realistic expectations and you’ve planned properly, then we’re betting that the process will be far more seamless than you previously anticipated. Conversely, if any of the above is not the case, you’re already walking into a huge adventure, perhaps without all of the tools that you need. One such tool is the VIC Underpinners team and fancy that, you have us right here. The VIC Underpinners site will always aim to have helpful information which ensures that your home stays safe and comfortable. In advance of actually living in your home, today we’re covering what the purchasing process looks like.

This isn’t the first time we’ve covered this topic, but it bears reminders in a lot of different ways. Many are nervous to embark on the homeownership process because they simply think it will be stressful, overwhelming, expensive and perhaps not even worth it. We understand that that’s a common theme, but if you’re working with someone you trust and you read the list of important questions to ask below, you’ll feel far better and more importantly – excited about the journey ahead. Here is a list of questions that the VIC Underpinners team recommends that you ask whomever you’re working with to find your next dream home:

  1. What have other homes in the area sold for or what are the “comps”? Real estate agents and brokers may refer to “comps”. This is what the home is valued at, at price per-square-meter. You’ll want to know if that’s comparable to other homes that have been on the market in the area in the last few years, especially if they’re of comparable size or look. That gives you a good idea of if you’re getting a good price.
  2. Why is the owner selling? Don’t necessarily read into the answer, but it is good information to know, especially if it reveals things about the property that make you not want to move forward with the process. Having a child and need a larger property? Totally adequate answer. Moving for a job? We’re sure that you wish them luck. Mould in the basement and creaky floors? Now, answers like that are exactly why you may want to re-think purchasing a home instead of making a rash decision.
  3. What is the neighbourhood like? While the structure and amenities of a home are definitely factors that you want to think about when making a big decision like this one, people are also. Think about where you are in life. Are you single and looking for like-minded ladies and gentlemen on your street? Maybe those that don’t mind noise? Or are you a family that really needs quiet after certain hours and playdates on the weekend. Either way, you should voice that, because the feel of your surrounding area is not something that you can single-handedly change once you move in.