Buying a home in Washington DC, Bethesda, Chevy Chase, and Northern Virginia can be both an exciting and overwhelming process. In fact, it’s easy for buyers to get so caught up in the commotion of finding the perfect property, applying for a mortgage and securing a loan that they forget to ask their real estate agent important questions.
As your local real estate experts in Metro DC, The Estridge Group has provided five essential questions to ask your agent before buying a home— a few you may be inclined to overlook in all of the home buying hustle!
Has the home had any upgrades, major renovations or additions?
If the sellers of a home in Washington DC, Maryland, or Northern Virginia have made any major changes, you will want to know what they did and how much it cost them. Why? This gives you a sense of how much money they have invested into the property and how much they intend to get out of it in the sale. And before you begin to stress about having to match what they spent on the upgrades, keep in mind that return on investment varies by which renovation or upgrade was made.
What is the home’s history?
Before you purchase a home, you will want to research its sales history. Find out the last time the home sold and how much it sold for in order to get an idea of what the sellers may expect a buyer to pay. However, it’s also key to remember that home values are based on comparable properties and the current market which could be quite different depending on the last time the property was for sale.
How old are the major features?
Home features like the roof, furnace, A/C, plumbing and electrical are all crucial to research prior to signing on the dotted line for a home. These can all be quite costly to fix should any problems arise, so you will want to know their age and if they’ve been repaired or replaced recently.
What are the property taxes?
The property taxes of a home in Metro DC can make a big impact on your mortgage payment— so budget accordingly! Take into account what the sellers paid, but also remember that these are based on the value of the home which could be affected by your ultimate purchase price.
How much are the monthly maintenance fees?
If you’re looking into buying a townhouse, condominium or single-family home in a homeowners association, take the time to research their monthly fees. You can also ask the sellers in advance what the average utility bills look like in order to factor them into your budget.
Wondering what else you’re forgetting to ask when house-hunting in the DC Metro area? Give The Estridge Group a call! We will ensure all of your questions are met and you are prepared with all of the necessary information to avoid any later hiccups in the home buying process.
We look forward to hearing from you!