This article shares 7 important things you should be thinking about before you buy a house.
If you’re subscribed to our weekly newsletter you’d know that we just spent this past weekend looking at homes for sale. I got a couple emails back asking if I could share the things we think about before buying a house.
We’re also fairly certain we know what we’re going to be doing in the next two or three years. Which is also why I’m felt like this is what my younger self needed. I was the one who had no idea what I wanted, all I knew that buying a home was a good investment.
If you’re wondering I’ve been through the buying and selling process three times, including a beautiful condo in Toronto. But I wanted to start with sharing our advice for future home buyers, hopefully making you more confident in the home buying process.
This post is all about the important questions you need to ask before you buy a house!
Important things you have to think about before you buy a home
1. Find a realtor you TRUST!
The first thing you should be thinking about is if you can find a realtor who you can trust. You want someone who will not only answer all your questions but will do everything they can to find the answer to the things they don’t know. Plus you’ll want to know that they are finding a home that will meet all your must haves, likes and avoid anything you dislike.. at least to the best of their ability.
2. What’s my Budget?
I try to show up prepared to everything we do, and finding a home to buy is no different. Make sure you know exactly how much you can spend on a house. If you’re going with a mortgage it’s always important to make sure you can get it first, you wouldn’t believe how many people go into house hunting missing this step.
3. What are the closing costs, property taxes and utilities?
You’ll need to take the closing costs, property tax, hot water or furnace rentals into consideration when looking to buy a house. Plus you need to find out how much it will cost you to heat and use water every month, which goes back to figuring out what your budget is.
4. Look beyond the paint
Look beyond the paint!! Our first house was a 1970’s fixer upper and every single room was a different easter egg colour lol. But one thing my dad is really good at is looking at the structural parts of the house, like the foundation, support beams, attic and checking for cracks.
5. Whats the neighbourhood like?
Are your neighbours good? are your neighbours too close? is there a school near by? things like this need to be asked before you buy a home. One of the issues we recently noticed at one of the places we looked at was the owners had a shed built on the neighbours property. It was the property owners but it could potentially cause issues having a structure built on it especially if that’s being considered in the price.
6. Can you see any water damage?
Check for water damage, specifically on the ceiling, along the walls, basement, flooring and always look in the attic. Most of the time an inspection will tell you these things as well. But I would always suggest doing your own investigating when it comes to making a very large purchase.
7. Check the sub-pump!!
The last house we just looked at was built in a swampy, low lying area and I knew it would be an issue. When we looked in the back yard we could tell it was flooded. There was a spring melt and we could tell the sub pump was running constantly. That tells us that this issue could potentially cost us a lot of money later on.
These are a few of the important things we need to think about when buying a house. But in my experience this is where we often saw the most issues. If you can see cracks, water damage, roof issues it’s best to get a professional to look at it. Luckily, my dad has a lot of experience with buying homes over the years, so he knows exactly what to look for and how to keep the cost as low as possible.
I really hope this list of questions helps with your house hunting journey. It hopefully gives you the knowledge to feel more confident when looking to buy a home.