The Top 5 Questions To Ask In An Open House

Visiting open houses is very important and you should start doing this when you are at the beginning of your home buying cycle. By going to visit open houses, you will get a better idea of where you want to buy, what amenities you want, what neighbourhood you want to be in and also what is the ideal type of home for you.

At this time of the year, open houses are more frequent, happening every weekend, almost everywhere.

Here are 5 important questions you should ask at every open house, regardless of the stage of the home-buying process you are in:

Why are you moving?

Usually families are upgrading or downsizing. If the owners are relocating, that is good news for you. When a seller is relocating, they are in a time crunch and are generally more flexible when selling.

If there are maintenance issues, then you should be weary and ask searching questions.

When was the last time the home had any renovations or upgrades?

If work was done recently, this is good news, as it saves you the time, effort and money. If the water heater, ac or heater have not been updated for a long period of time, you can expect bills in the near future.

If renovations have been done, ask about whether the appropriate permissions have been obtained. If not, then you may face problems with the local municipality in the years to come.

How long has the house been on the market?

This is a very important question as it tells you a lot about the home or the owners. If the home has been on the market for over 60 days, this should be a red flag that there could be something wrong:

• Is the house overpriced for the neighbourhood?
• Has the seller had multiple offers but is very firm on the asking price?
• Are there material defects that are not apparent?

What are the added expenses that go into owning this home?

Apart from the mortgage expenses you should be aware of other expenses that go into owning the home. Questions that need an answer are:

• What are the yearly taxes?
• What are the monthly electric and heating bills?
• If it is condo, what are the monthly service charges?

How long have the owners lived in the house?

If the owner has lived in the home for a short period of time, there are 3 possibilities:

• The owner has bought the home, renovated and is flipping for a higher price.
• The owner purchased the house, but after a couple of years is unsatisfied with the purchase.
• The move is job related.

If the owner has lived for a long time, it is more than likely that he/she has taken great care of the home.

Finding the right home is not an easy process. You need the guidance of an experienced real estate professional. We have been in the real estate business for over 28 years. For any home buying or home selling related enquiries, please contact us or call us on 604 913 1888.