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One of the best ways to learn about homes for sale, as well as the local real estate market, is by doing a bit of investigative work for yourself. When a house is for sale, realtors often invite the community to come for a walk-through, hoping that someone will like what they see and make a purchase.<\/p>\n
By attending these tours, you\u2019re able to see exactly what a home is like and how it compares to other homes in the area in a similar price range. If you\u2019re interested in purchasing a home, attending a few open houses is always a great idea.<\/p>\n
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Do Your Research<\/b>
\nIf you\u2019re making the effort to go hunt down a home and then spend a significant amount of time checking it out, it makes sense to do a little prep work first. Look up the listing and know the stats. It also never hurts to call the realtor for a quick conversation prior to your visit. Not only will planning ahead help you know what to ask when you\u2019re there, it also lets the realtor know that you should be taken seriously.<\/p>\n
Don\u2019t Be Afraid To Explore <\/b>
\nLook in every nook and cranny when you\u2019re at an open house. It might be a little awkward at first, but it\u2019s even more awkward when you buy a home only to realize that it isn\u2019t exactly what you thought it was. With so much money on the line, you should be familiar with every inch of the home before signing any papers.<\/p>\n
Try To Ignore Staging<\/b>
\nRealtors pull out all the stops when they\u2019re trying to sell a home during an open house, but keep in mind that when you actually get the home, it\u2019s going to be empty. Try to imagine your own stuff filling the rooms instead. Don\u2019t get tricked into thinking the house is great just because it\u2019s filled with fancy furniture at the time.<\/p>\n
Quiz The Agent<\/b>
\nAsk the hosting agent every single question about the house you have, it\u2019s their job to answer them so you shouldn\u2019t feel like you\u2019re being annoying or prying too much. A realtor should be completely able and willing to tell you anything you want to know about the house they\u2019re selling. Plus, the more you talk with an agent, the more you\u2019ll learn about them. This makes it easier when you\u2019re deciding whether or not it\u2019s a smart thing to trust them with your business.<\/p>\n
Never Blink<\/b>
\nWhile you\u2019re walking around an open house, the more attention you give to minor details, the better off you\u2019ll be. Keep your eyes and ears open to things like black mold, broken appliances, and leaky faucets. These can all be indicators of future problems.<\/p>\n
Don\u2019t Stop At Just The House<\/b>
\nOne huge benefit of going to an open house is that you get a first-hand look at the area the home is in. Make sure you\u2019re paying close attention to everything from your own future backyard to what the neighbors down the street are up to. The house you\u2019re checking out might seem perfect, but if it\u2019s on a street filled with broken windows and graffiti, you might want to look elsewhere.<\/p>\n
Be Aware Of DOM<\/b>
\nIn the real estate industry, the acronym D.O.M. stands for \u201cdays on the market.\u201d If you find a house that\u2019s in the triple digits, there\u2019s a good chance you\u2019ll be able to get a pretty sweet deal. Just ask the realtor and they\u2019ll let you know how long they\u2019ve been trying to sell.<\/p>\n
Trust Your Instincts<\/b>
\nLike most other things in life, going with your gut isn\u2019t usually a bad thing. If you find yourself making excuses and justifications for certain aspects of the house that might be lacking, it\u2019s probably not the right fit for you.<\/p>\nImportant Questions To Ask<\/h2>\n
\u201cHave any offers been made?\u201d<\/b>
\nThis can clue you in to whether or not the local market thinks the home is a good deal. It can also help you determine how pressed for time your decision on purchasing the house really is.<\/p>\n
\u201cWhy are the sellers selling?\u201d<\/b>
\nThis question can help you determine if there are any problems in the area that might make you want to look elsewhere, a noisy neighbor or a horrible public school system, for example. Keep in mind that your agent might not want to give you the whole story at the risk of ruining a potential sale, but it never hurts to ask.<\/p>\n
\u201cWhat problems does the house have?\u201d<\/b>
\nIt\u2019s required by law for sellers to make potential buyers aware of any structural problems or code violations their house might have. This is one question you can\u2019t skip.<\/p>\n
\u201cHow much will this really cost me?\u201d<\/b>
\nA lot of people forget to consider things like taxes, bills, HOA fees, and other additional costs when they\u2019re looking for a new home. It\u2019s important to know if you can actually afford a house before you pursue it, keeping in mind that you\u2019re not just paying the number on the price tag.<\/p>\n
\u201cDoes the seller have a certain timeline?\u201d<\/b>
\nFor various reasons, some sellers want to stay in their house for a few extra months while others might want to leave the moment the papers are signed. Working with your realtor to help find a deal that works best with the seller\u2019s timing can sometimes save you some serious dough.<\/p>\n
\u201cHow are the neighbors?\u201d<\/b>
\nWhile this might be another question that some realtors tend to dodge if the answer isn\u2019t favorable, it\u2019s always smart to learn a little bit about the people within a close proximity to you. You don\u2019t want to move next door to a family that loves mowing their lawn at 2 in the morning.<\/p>\n
\u201cWhat\u2019s been updated recently?\u201d <\/b>
\nJust like you\u2019d want to know how old the tires are on the used car you\u2019re buying, you should ask about things like the roof and the wiring of the home you\u2019re in as these are things that tend to wear out over time. Buying a house only to discover it needs a new roof in a year can definitely be a drag.<\/p>\nThe Bottom Line<\/h2>\n
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The most important thing about open houses is that you\u2019re not scared to shop around. Consider visiting several homes in the nearby area, even if you\u2019re only really interested in one. This will give you the chance to see how that home compares to the rest of the local market.<\/p>\n
Open houses are one of the best ways to determine if a home is the right fit for you and if it\u2019s not perfect or there are warning signs present, don\u2019t be scared to just walk away.<\/p>\n
Like This Post? You\u2019ll Definitely Love These:<\/b><\/p>\n Why Go To An Open House? Wikimedia Commons One of the best ways to learn about homes for sale, as well as the local real estate market, is by doing a bit of investigative work for yourself. When a house is for sale, realtors often invite the community to come for a walk-through, hoping that someone will like what they see and make a purchase. By attending these tours, you\u2019re able to see exactly what a home is like and how it compares to other homes in the area in a similar price range. If you\u2019re interested in purchasing a […]<\/p>\n","protected":false},"author":3,"featured_media":918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[167],"tags":[],"class_list":["post-916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-basics","post--single"],"yoast_head":"\n\n