In a competitive real estate market, buyers can sometimes get caught up and forget to ask important questions. This can lead to regrets and even legal troubles down the road. The best way Massachusetts buyers can prevent these issues is by asking important questions early on. Here are some topics worth exploring when considering a home purchase:
- Potential hazards: Understanding hazards both inside the home, as well as the potential for natural disasters, is important when purchasing a home. This can impact the safety of one’s family and even increase the cost of home insurance, which is a key financial factors in the overall purchase.
- History of the home: When the house was built and when certain upgrades were made can have a major impact on the value of the house. For example, if the roof was updated in the last year or two, it would be worth more than a home needing a lot of work.
- Septic vs. sewer: Buyers may or may not have a preference between septic and sewer, but either way, it is important to know what system is in place when buying a home. Understanding the municipals costs associated with sewer water is also important to factor into one’s budget.
- Whether there is a local HOA: HOAs can be helpful for some aspects of home ownership, providing shared amenities and support to maintain property value. However, those who strongly value privacy or are on a tight budget may find them restrictive and wish to steer clear.
- Location: Of course, location is always a factor when buying a home. However, it’s important to look at the full scope of where a property is, as well as the future prospects of the area.
Overall, Massachusetts home buyers have a number of things to consider when buying a house. While it can be tempting to make a quick offer on a home that that looks good on the surface, asking these questions can take a short amount of time and make a big difference. Consulting with an experienced real estate lawyer to confirm there are no outstanding legal issues with the property and to verify all contracts is also important for a smooth transaction.