From the neighborhood to the price, there is a long list of considerations when buying a home. Thankfully, real estate agents offer valuable industry knowledge, which can help you navigate the process successfully. Ask these three questions at each property viewing to identify a home that matches your future goals. 

What Homebuyers Need to Ask When Purchasing a Home

1. How's the Neighborhood Market?

A home is an investment, so ideally, you want to buy a property that can grow that investment over time. However, a structure's real estate value is largely affected by surrounding properties. When demand for a specific neighborhood goes up, so do the property values in that area.  Unfortunately, the opposite is true when an area becomes undesirable. As such, ask your Realtor® to identify recent trends or shifts in the neighborhood market. 

2. Are There Any Property Disclosures?

Sellers can choose to share information with buyers regarding specific aspects of a property's past. While disclosure laws vary by state, they often include issues such as easements, HOA memberships, and structural damage. Since certain items can result in additional costs, it's important that you're fully aware of all disclosures before making an offer. 

3. What Is the Home's Market History?

There's not a required amount of time for a person to own a property, but on average, homeowners wait seven to eight years to sell their home. For that reason, it's seen as a red flag when a property has been sold multiple times over the last 10 years or so. In such situations, ask your real estate agent to find out if there's any information on why each seller left. 

Ready to go house hunting? Turn to the team at Open Real Estate in Lakewood, CO. The local agency assists buyers and sellers across the Greater Metro-Denver area to find properties that meet their unique budget and lifestyle needs. Whether it's your first home or fifth, the agents are dedicated to taking a personalized approach. Begin your search today by browsing their online listings, and speak with an agent at (303) 232-1111.