Buying A New House
When buying a new house, you need to watch
out for certain things in order to protect your
Whether your house is being newly built
or is an existing home, you'll need to ask a few
questions and make sure you have legal advice before
signing any contracts.
If the house you are buying is brand new, you'll
need to make sure of the completion date. You don't
want to get stuck with no place to live! It is
typical for a new house builder to have to move out
the date so if the house you are buying is supposed to
be ready in 2 months, you should keep a close eye on
the progress and make sure you have a backup plan to
stay with relatives or rent something if the date
When you buy a new house, sometimes you can pick
out the appliances and flooring. Be careful when you
do this as is it easy to get caught up in buying the
upgraded materials and you can end up costing
yourself a lot more than you planned. Work out a
budget before you go shopping and buy only items
within the budget. Of course, if you have money to
burn, this is a great time to get upgraded appliances,
counters and floors for your house and have the
builder install them for free!
To some people, buying a new house is simply buying
another house. Not necessarily brand new, but
one that is new to you. In a home that has been lived
in, you can get a lot more information that will help
you budget your monthly expenses.
Some of the basic questions to ask when buying a
house is about the associated expenses of the house.
These are things like the property taxes,
electricity costs, heating costs,
sewer and water bill and if there are any
association fees or other fees associated with the
property. These questions can also trigger warning
signals if something seems excessiivley high.
Of course, your heating and electric costs will
differ due to size and age of house, but you want to
make sure those costs are not unusually high as this
could signal that something is wrong. Not to mention
that you need to come up with a household budget for
those costs in every month! The same with the water
and sewer (if you are lucky enough to have town
services for those!) - not every town is alike and
some have pretty pricey bills for those services. An
outrageously large water bill can indicate a leak
somewhere in the water supply to the house.
Another one of the important questions when buying
used houses is when the major systems have been
updated. This means the roof, painting the house and
the septic system if it has one. These can be major
expenses and you want to be prepared if you are going
to have to put out the money to have them updated
shortly after you move in.
When you are home shopping, it is a good idea to
bring along a note book that lists the questions you
want to ask about the house. It is easy to get
excited about a property that looks perfect to you and
forget to ask some important things! When I was
looking I printed off a bunch of sheets with the
questions on them, along with things we wanted in a
house (like a master bath, more closet space etc...)
And kept them in a notebook that I would bring with me
to each house we looked at. Then later on we used it
to compare houses and it helped us to remember which
house had which features.
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