Questions To Ask Yourself Before Buying A House – Of course you want and need somewhere to live. Your home is your castle, your safety, where the heart is, and all of that. But why buy rather than rent? Are you shopping alone or going in with a partner, family member or friend? There’s no right answer, although it should go without saying that buying a home is a much longer financial commitment than renting — both to the space as well as to the people involved. You’ll have to jump through a lot of hoops to secure a mortgage, so if you’re going to have to stretch yourself to afford it, you might want to think twice. It’s also a big commitment mentally, so if you really don’t think you’re up for taking care of a home for years (and years), then you might want to wait—or forgo buying a home altogether. Don’t buy a house because it’s the thing to do, or because your peers are buying a house.

Speaking of jumping through hoops, if your credit rating is bad, you’re going to have a hard time not only getting a mortgage, but getting a *good* mortgage. Which means you’ll be paying more for your mortgage through higher interest rates and stricter rules when it comes to prepayment penalties. It’s not impossible to get a mortgage, and if you have a good reason to get a home, then there are ways you can get a mortgage if you have bad credit. But your credit makes a difference in the outcome of your mortgage process, so you’ll want to clean it up before you want to get a mortgage.

Questions To Ask Yourself Before Buying A House

Questions To Ask Yourself Before Buying A House

If you think that the only options you have for mortgage lenders are the mainstream banks, you are in for a big surprise. There are many lenders out there that only handle mortgages and mortgage-related business, and those lenders are called monoline lenders. They typically have advantages for the banks, such as lower interest rates and flexibility when it comes to stated income requirements. Monoline lenders are still in what’s called the “A” space, meaning they deal with well-qualified candidates, just like the banks. Read more about different types of lenders, as well as private lending options.

Questions To Ask Before Building A Custom Prefab Home

Every mortgage is not created equal. Yes, you have a principal and a balance and you make payments every month (or week, or however you set it up). But beyond that, there are many different loans out there to meet the needs of borrowers in a number of different situations. There are also loans aimed at investors, self-employed borrowers, and a mortgage broker can help you figure out which one is right for you.

Brokers love to advertise. You’ve probably seen flyers and billboards for real estate agents, ads in local magazines and newspapers that. I’m sure you know at least one or two. But just because you know a real estate agent doesn’t mean they are the right broker for you. You need a real estate agent who will fight for you, but not push you to do anything that makes you uncomfortable. We have more tips for finding a broker here.

Hindsight, as they say, is always 20/20. Because it’s just a big purchase, many new homeowners have that moment of buyer’s remorse shortly after closing the deal and receiving the keys to the property. The most important home buying mistake to avoid is buying a home you can’t afford. Others include buying in the wrong area and looking for homes in all available outlets, including social media. If in doubt, ask your broker.

Finding a home is not the last step. Depending on the housing market you’re buying in, you may be up against tactics like bidding wars, bully offers, or specific offer dates. Even if your market isn’t particularly competitive, negotiations between buyer and seller can become frustrating at best and messy at worst, causing you to lose your desired home. Rely on your estate agent. Negotiation is indeed an art; you might as well leave it to the professionals.

Questions To Ask Yourself Before Buying A House

Do you have your money ready? All this? Has all the paperwork been verified? Is all the wording correct? Did you remember to get home insurance? Your real estate attorney is the ringmaster when it comes to this stage. He/she should be able to guide you through all the required documents and make sure that nothing falls through the cracks. As for dealing with the movers, well, that’s all on you. Not sure what questions to ask when buying a home? Be sure to download my FREE Home Buying Workbook at How to Buy a Home in 12 Weeks. Also check out the first 10 questions you should ask before buying a home.

I wrote a previous post called 10 Questions You MUST Ask BEFORE Buying a Home that became very popular.

. If you get it wrong, there is no “come-back-for-a-refund” policy available. You don’t have 30 days to “think” about it and see if it works for your family. IF ONLY IT WERE LIKE THIS!!

Questions To Ask Yourself Before Buying A House

So I wanted to write a follow-up with even more questions you should ask before buying a home! So read PART 1 of questions to ask when buying a home. And to get all 30 questions, enter your name below to download the first-time homebuyer checklist.

Checklist: 8 Questions To Ask Before Buying New Home Appliances

The last thing you want is to buy a house next to a registered two doors down. Checking for sex offenders in the area is not something I did before I bought my house, but you better believe it will be one of the first things I will do. In writing this article, I did a search of my address and found seven registered sex offenders living within 2 miles of me, luckily, not in my immediate area. Four of them had third-degree sex offenses, one had a child pornography offense, and the other two were listed as “other.” Make sure you know where they live, and think carefully about where we are going to buy a house. Search for sex offenders here: Criminal Watchdog and Family Watchdog. Just to show you what the search can reveal, I searched for sex offenders near the White House in Washington, DC, and here’s what came up! Let’s hope your prospective neighborhood search isn’t quite as colorful!

I’m not a scientist, but let me summarize what I read on the Environmental Protection Agency (EPA) website about radon. Radon is a colorless, odorless, radioactive gas found in about 1 in 15 homes. Rocks and other things break down into the ground and radon is naturally released (even granite countertops give off low levels of radon – I had no idea!). It is found in lower levels outdoors, but indoors it can be much higher. Above safe levels, it can cause lung cancer. Scary stuff!!!

Our agent recommended we have a radon test done, and sure enough there was radon. I can’t even tell you what the level was. I was too naive to ask. But it should have been less than 4.0 PUC/L and it wasn’t. Aradon remediation company installed an exhaust fan in the house, which vents outside (the seller paid for it, about $600 I think). After that it should have tested below 4.0 PUC/L. Although “they” (i.e. experts) say it is safe once the radon remediation takes place, if I had to do it again I might have bought another house. That doesn’t mean it’s not safe now, but still….

Here is what the radon pipe looks like in our basement. It vents to the outside, and we just need to check the vacuum levels to make sure it’s working properly.

Questions To Ask Yourself Before Buying A House To Renovate

Recently (as of April 2019) I was cleaning out this utility area in my basement and happened to notice that the small blue fluid levels in the indicator were even and flat (one blue even side should be higher). This meant that the radon vacuum was not working. It was about $250 for the radon remediation people to come fix the vacuum on the outside of the house.

The thing is, there was no alarm to alert me that it was broken. I happened to notice that the two blue levels were both at ZERO. Who knows how long it was broken, which means we inhaled radon. I would recommend setting a reminder and checking the vacuum levels at least once every few months if you are buying a home with radon mitigation like mine.

Want to kick a long driveway in the winter at 5am before leaving for work? If not, you’re either going to have to pay someone to do it or not buy that house with the long driveway.

Questions To Ask Yourself Before Buying A House

From the driveway? If you have young children, will they roll right into the street, or will their toys roll down the driveway into the street? While my children love

Questions To Ask Yourself Before Buying A House


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