Tuesday, July 12, 2016

Questions To Ask Before Buying A Home

Property Tax Reduction Consultants
125 Jericho Turnpike, Suite 500 
Jericho, NY 11753
(516) 484-0654 or (631) 484-0654

Regardless of how experienced you are with home buying, each of your house hunting journeys are bound to be a bit different - sometimes the process will be quick and simple, and other times the process may be long and challenging. But, no matter what turn of events you experience along the way, one thing that can help you be a little more prepared is by having the right questions ready.

If you're ready to start looking for a new home, below are the top 5 questions we recommend asking before signing.

Property Taxes Long Island | Homes on Long Island | P.T.R.C. Inc.

1. What are other homes in the neighborhood worth?
To determine if the seller's asking price is an accurate representation of what the home is worth, start by learning what other homes in the area have sold for. If the asking price doesn't seem to line up with neighborhood comps, your next question should be, "why?" What is it about this particular home that is causing the price to be higher or lower?

2. How long has the home been up for sale?
The answer to this question will not only help you figure out if the price is reasonable, but it'll also help you figure out if there is something about the home that hasn't been discussed yet. For example, if the home has had trouble selling even though it's listed at a fair price, what is it about the home or the neighborhood that is keeping buyers away? If, on the other hand, it's only been on the market for a short period of time, you should then try to find out how many offers have been put in to see what the competition is like.

3. Are there any major problems to be aware of?
The seller probably won't be in a rush to let you know about problems they've experienced in the home - after all, the goal is to sell the house, not keep it - but if you make the first move and ask, you're more likely to get the information you're looking for. That said, don't hesitate to open up a dialogue where you ask about things such as flooding potential and structural issues, as well as information about the neighborhood itself.

4. Do you have warranties on recent updates?
Say, for example, that the current homeowner recently updated the heating and cooling system - if something goes wrong a few months or a year from now, you'll want to know if you're covered! So, find out what updates have been made to the home in the past few years and ask if there are any warranties in place so that you can determine what repair and replacement costs you might be responsible for down the line. 

5. How is the school district?
Aside from information about the home itself, you'll certainly want to dive into a conversation about the neighborhood - starting with the schools. Even if you don't have children that will be entering the district, if you ever go to sell the home in the future, you can bet that buyers will be looking for a home in an area with top-of-the-line school systems. While you can likely find some information about a school district's rating online, it's always helpful to get direct insight from the seller too - especially if they had children who went through the schools.

For those of you with aspirations to purchase a home on Long Island, after the sale is complete and you start to learn more about things such as property taxes, connect with the experts here at P.T.R.C. Inc. to learn how we can help. Since 1990 we have been helping homeowners in Nassau and Suffolk County reduce their property taxes, and we'd love to be able to help you next!

To learn more about our services, please visit www.ptrc.com or call (516) or (631) 484-0654.

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