buying a new house
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Buying A New House

When buying a new house, you need to watch out for certain things in order to protect your investment.
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 should slip.

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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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