Buying a home is an incredibly important decision. It is crucial to work with a real estate professional who can provide insights and advice throughout your home buying process.
There are lots of questions you can ask your real estate agent but here are five starters.
1. Should I even buy at all?
Perhaps you’re not ready to buy yet, and renting is a smart plan at the moment. Discuss the varying costs, how long you plan to stay in the area, and whether a rent-to-own plan (where you begin a lease with the option to buy down the road) is a better fit. Century 21's Renting vs. Buying Calculator can also help you make your decision.
2. May I see a Comparative Market Analysis for this area?
A Comparative Market Analysis (CMA), is a comparison of one home to other similar homes that have recently been on the market. Use it to understand if the price of the homes you’re looking at is on par with the price of other homes in the neighborhood or similarly sized homes.
3. What is the neighborhood like?
You are not just moving into a home, you are moving into a neighborhood. Your neighborhood determines your school district, your commute, your neighbors, your taxes, and more. Ask questions that indicate whether the neighborhood is right for you and your family. We recommend driving to work at rush hour times to measure the commute, visiting the school your kids would attend, visiting the home during different times of day, and learning about local hospitals and doctor’s offices.
4. How flexible is this home’s asking price?
Ask your REALTOR® to help you hone in on a good but fair initial offer. Too low, and it could seem insulting; too high, and you’re at a disadvantage.
5. Will they accept a lease option?
A lease option is an arrangement whereby a buyer and seller agree to rent a home until the buyer is able to make a purchase. Your real estate professional can ask if the seller would be willing to go through with a lease option. If you and the buyer decide that this option works well for you learn more about the process.