7 questions to ask while considering the purchase of a resale home

One of the most exciting times during the homebuying process is the process of touring the homes you’re considering purchasing. Home tours can give you an idea of the types of homes that are within your price range and what you can get for your money. Fortunately, it can even help you find your next home.

Don’t let the excitement of the search get in the way of the questions you need to ask to ensure you’re making the right decision when you make an offer on your next home. There are several things you’ll want to know to make an informed choice if you’re buying resale. For every house you tour, make sure to ask the following seven questions to find out if it meets the basic requirements you’re looking for in a home.

One of the first questions to ask when looking at a home is why a seller is moving. In a modern market, many sellers are looking for new homes for specific reasons. It may be to get a new space with a home office. Perhaps they’re looking for something rural instead of an urban home. Maybe some empty nesters are looking to downsize their home. Or it could be the family is relocating to another city.

Whatever the reason, you’ll want to understand the why behind the move. If it’s not a straightforward answer, you might want to find out if there are bigger issues behind their efforts to sell. If they are moving because there’s an issue with the home, it may be a sign to check the house off your lists of considerations.

Homes in the Triangle market have been staying on the market for an average of 27 days in 2023. If you ask the selling agent how long a home you’re touring has been on the market and it’s been longer than the average, you may want to dig to find additional answers.

If a house is staying on the market for an extended period, ask for clarity on why this may be the case. If the answer is it’s overpriced, you may be able to talk a buyer down a bit on the price. Or, if the location is a bit further out from the major cities within the Triangle, that may be part of the issue as well. But if it’s something bigger, you may want to avoid making an offer on the home.

Before you fall in love with a home you’re touring, make sure to ask the important question of what is staying in the home when the sellers leave. Unless it’s bolted down or mounted to the wall, there’s a likelihood the sellers can take it with them when they leave. That includes appliances and even some furnishings.

If there’s something that specifically catches your eye withing a home you’re considering for a purchase, talk to your real estate agent about negotiating for it. Negotiating for things like the washer and dryer and refrigerator are common tactics. You’ll just want to make sure it’s clear what you’re asking for and that the sellers are aware and willing to negotiate so you don’t make a purchase you’re unhappy with down the road.

One of the most important questions you can ask while touring a home is the condition of the costliest replacements you may have to consider one day. For example, a roof should be replaced every 30 years. And electric, plumbing, and heating and cooling systems can begin to add up in costs if you need replacements right after you purchase a home.

Fortunately, even these costly systems can be negotiated into the sale of a home. If any of these things will need repairs within a handful of years from the time of your purchase, be sure to talk to your agent to make these requests as part of your offer and to see if it can help you reduce costs down the road.

Sellers are required by law to list known disclosures about a home. For example, in North Carolina, sellers must disclose any conditions and issues that are related to the material elements of the home. If a foundation or roof has had issues, sellers must share that information with buyers so they can make an informed decision.

Keep in mind that sellers can list that they have no prior knowledge of any defects. If you are told by the selling agent that the seller hasn’t shared disclosures, you may want to steer clear of that home. Make smarter choices by ensuring the seller is open and honest about any issues they may have had with a home, so you know how to best approach a potential purchase.

In the days of flipped homes and home renovation inspiration on every channel, it’s important to ask if the sellers have made do-it-yourself upgrades to any home you’re considering purchasing. While some homeowners take pride in their work and know how to approach home upgrades and repairs, not everybody can update a home well.

If you learn that a home has numerous DIY updates, be sure to ask the right questions to find out how well they were done. If the work wasn’t permitted, if an upgrade was done with a short turnaround time, or if things seem off, you may want to walk away from that home. An inspector should easily identify issues with a home. Just make sure to avoid wasting money on an inspection if you spot issues on your own.

A seller’s agent should have done a comparison of other homes in the neighborhood to determine what to sell the home for. Those comparable sales, or comps, help the agent set the selling price of the home. When you start looking at the home, make sure to ask what other homes in the neighborhood are selling for.

Make sure you fully understand what the agent is using for the comp, too. If a home in the neighborhood sold for significantly less money than what you paid for it, ask about the size of the home, and how many bedrooms and bathrooms it has. Answering these questions can give you the insights you need to make a wise decision.

Buying a home is an exciting time, especially if you’re armed with the right knowledge. By asking these 7 important questions, you can approach the home buying process feeling in control and aware of the pitfalls that can happen along the way.

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