This week we have been looking at the Most Important Questions You Should Ask Before You Purchase a House. Today we are going to discuss the importance of the activity around your property.
9. Is road construction scheduled?
Before you purchase a house you should find out if there is any road work planned. Consider how it will affect your commute to work, school and even shopping. Think about traffic congestion, noise and dust. If they widen the road, will your yard shrink?
10. Who are the neighbors?
Now we have all heard the horror stories about “psycho” neighbors but thats not what I am talking about here. Location, location, location. Houses next to noisy businesses and apartment buildings or even townhouses are less desirable than comparable homes in established, single-family home neighborhoods.
If there is nothing obvious, ask the neighbors if they have any complaints about the area. You’ll likely get a more honest answer from people who have no stake in the real estate deal.
11. What are the comps?
Avoid paying too much. Use your InvestorCompsOnline account to pull the property data and sales data for your deal. Compare the property to similar home listings and recent home sales in the area.
Knowing a home’s true market value is the best negotiating tool.
Tomorrow we will wrap our week long review of the top questions you should ask before buying a house.