Buying a new home is a major financial commitment, as well as an opportunity for you and your family to begin making lifelong memories. The importance of finding the right property is paramount to your future. This is why you must be armed with all the information you need to make wise decisions about the various real estate listings you will see during the house hunting process. As the professional realtors at Marshall & Koopman REAL ESTATE in Burnsville, MN, help their clients navigate the industry, they make sure to provide them with a wealth of valuable knowledge.
Below, they suggest a few essential questions to ask when buying a home:
- What Are the Neighborhood’s Comparable Sales? The best way to make sure you’re getting a good deal on a home is to find out the comparable sales of other real estate listings in the neighborhood. Knowing the value of homes that are similar to the one you’re viewing will give you insight into how well it’s priced.
- Have There Been Any Major Renovations or Repairs? It’s vital to know if a home has undergone any major upgrades and how much these were worth to give you a better sense of its value. In addition, you will want to know if it has suffered any serious damage, even if it’s been repaired. Sometimes, there can be long-lasting effects, and you don’t want to discover any unpleasant surprises after you move in.
- How Long Has It Been on the Market? Finding out how long a real estate listing has been on the market will help you determine what your next steps will be. If it hasn’t been very long, you will likely have to decide if you’re willing to pay the full asking price. If it’s been available for a while, the seller may be more willing to negotiate, but you might want to further explore why it hasn’t been sold yet.
- Has the Seller Received Many Offers? Similar to knowing how long a home has been on the market, finding out if the seller has already received other offers will dictate your next move. You may either have to prepare yourself to enter into a bidding war or simply move on to another property if you don’t want to end up paying more than the asking price.
When you’re prepared to ask your realtor all the right questions, you will be better equipped to make a sound financial investment. Contact Marshall & Koopman REAL ESTATE at (612) 490-3891, or visit their website to search through current real estate listings.