Buying a Dallas or Fort Worth area, or any home is one of the biggest decisions you’ll ever make. It’s exciting but can feel overwhelming with all the details to consider. To help you make an informed decision, here’s a list of 25 Questions to Ask When Buying a Home. Let’s dive in!

1. What’s my total budget, including closing costs?

Budgeting isn’t just about the sticker price. Closing costs, home inspection fees, and moving expenses add up. Be sure to plan accordingly! It is best to get an approval from a local lender like me. I will detail your total cost, show you what you can afford, and give you an approval letter so you can make offers. You can explore that with my Purchase Assistant program.

2. How much do I need for a down payment?

Depending on the loan program, you might put down as little as 0%, but a higher down payment could reduce your monthly payment and improve your terms. There are so many programs that I offer, we just need to talk to determine what is best for you.

3. What type of mortgage is best for my financial situation?

Not all mortgages are created equal. Jumbo, FHA, VA, Conventional, Non-QM or USDA loans all have unique benefits depending on your circumstances. When you work with me, you get more options than with any other lender. I will help you explore and find the perfect fit.

4. What’s the neighborhood like?

Visit the area at different times to gauge traffic, noise levels, and overall vibe. You can even search the crime data on the FBI website.

5. How are the schools in the area?

Even if you don’t have children, good schools can affect home values and marketability. If you would like information on school districts, just ask me to help or ask your Realtor to provide them to you.

6. What’s the crime rate in this area?

Safety is critical. Many local law enforcement websites provide public access to crime statistics. You can search the crime data on the FBI website.

7. How old is the roof?

Roof replacements can be pricey. Knowing the roof’s age and condition can help you plan.

8. What’s the condition of the HVAC system?

Heating and cooling systems are essential to comfort and can be costly to replace.

9. Are there any major repairs needed?

Always ask the seller or get an inspection to identify significant repairs and maintenance. Sellers should provide you a form called a Sellers Disclosure Notice that details know defects. However, I would always suggest hiring a professional home inspector.

10. Is the house in a flood zone?

Flood zones can affect insurance premiums and your peace of mind.

11. What are the average utility costs?

Monthly bills for electricity, gas, and water vary, and they’re part of the overall cost.

12. What’s the home’s resale value?

Ask your agent about resale prospects based on local trends. You can also call me and give me an address; I will be happy to provide you with an automated resell value report.

13. Why is the seller moving?

Understanding the seller’s motivation can give you a better perspective on the deal.

14. How long has the house been on the market?

A longer time on the market might mean negotiating opportunities, but it could also suggest potential issues.

15. What’s the property’s zoning?

Zoning laws affect how you can use the property, so be sure it meets your future plans.

16. Are there any homeowner’s association (HOA) fees?

HOA fees can add up. Make sure you’re comfortable with the rules and costs. HOA’s are great and awful. There is almost always a transfer fee and monthly dues. It might be wise to google the HOA or try and talk to some of the neighbors.

17. Can I see recent home inspections or disclosures?

Transparency in past inspections can give you peace of mind about the home’s condition. This should be provided when you make an offer.

18. What’s the property tax history?

Taxes vary by area and affect your monthly mortgage payment. You can usually find the current tax amount on the county appraisal district website or tax collector website.

19. Are there upcoming developments nearby?

New construction might change the neighborhood feel or impact property values.

20. What appliances are included?

Knowing which appliances stay can save you money and hassle when moving in.

21. How is the water quality?

In some areas, water quality varies. Asking about this can prevent surprises.

22. What are the restrictions on renovations?

Some HOAs or city ordinances limit what you can do to your property.

23. Can I get a home warranty?

A home warranty can protect against unexpected repairs during the first year of ownership.

24. How are the home’s structural elements?

Foundations, walls, and framing are the backbone of a house. Be sure they’re sound. If there are obvious defects you should consider getting an engineer to inspect and provide a report. You can also take advantage of this to negotiate a lower price. I can provide you with a Home Renovation Purchase Mortgage. Buy a fixer-upper and finance the improvements in one loan.

25. What’s the neighborhood’s appreciation potential?

Working with a knowledgeable real estate agent will help you gauge the investment potential.

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Basically, there are no dumb questions. Ask away and make sure you are comfortable with your home purchase. As always, I am here to help should you have any questions.

Richard Woodward

Branch Manager, NMLS 217454

Your 5-Star Rated Mortgage Lender

Voice/Text:  (214) 945-1066

www.MortgageProsUs.com

NEXA Mortgage NMLS# 1660690. Plano Texas.