6 Crucial Questions To Ask When Attending a Real Estate Open House

6 Crucial Questions To Ask When Attending a Real Estate Open House

A real estate open house is usually a pretty casual occasion, and it’s one where a property broker lets the public visit a property they represent. During the few hours these events last, anyone can stop by the home and take a look around. While it’s great to look around and see if a home might suit you, it’s an even better idea to ask certain questions while you’re there.

1. Which Renovations Were DIY?

Renovations and home improvements are commonplace in homes for sale, but there’s a reason why this is one of the first questions to ask. If a DIY renovation isn’t done skillfully, it might create issues that need correction. It also could be technically fine but not up to your standards. Painting a room might be fine as a DIY project, but retiling the bathroom is better in the hands of an expert.

2. How Old is the Roof?

Even if you get a home at a good price, it’s a huge investment. For most people, it’s the largest single transaction they’ll make in their entire life. The last thing you want to do is buy a home and then face an expensive maintenance or repair in the first few years, and a new roof would certainly qualify.

3. How Much Do the Utilities Cost?

Buying a home is expensive, but you still have to pay for it regularly. You might factor the mortgage payments and homeowner’s insurance into your budget, but utilities are also necessary. Fortunately, the sellers should have plenty of data about how much electricity, water, and other utilities cost for that home, and they should be happy to share that information with you.

4. Has There Been Flooding or Pests?

Any history of flooding or pests might indicate potential problems you’ll face in the future. The sellers might have already installed structural improvements to prevent or manage future flooding, but pest issues can be trickier. You should have some idea of what potential pest invasions are possible so you can be ready in advance.

5. Why Are the Sellers Moving?

This might seem like a personal question that’s invasive to ask, and you might get evasive answers at first. You don’t want to be nosy and push the subject, but any answers you get can be very informative. Job relocations, retirement, deaths in the family, and downsizing are all valid reasons for selling a home. If they’re moving because of traffic, crime, HOA difficulties, or annoying neighbors, then things are different.

6. How Long Has the Home Been Available?

Homes that sit on the market for a long time have something wrong with them, and this is a red flag in competitive markets. There might be something wrong with the home, or the sellers might just be asking too much. Dig deeper to find out what’s going on.

There are certainly far more questions you should ask than just these six, but they’re a great starting point. Write down a list in advance, and take it with you. That way, you won’t stumble trying to remember the questions, and you can write down the information you get.

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