Wednesday, August 22, 2012

Questions to ask while buying Millburn-Short Hills real estate

Buying Millburn-Short Hills real estate is probably a big event in your life. If you are investing a larger sum of money compared to what you usually spend, you definitely want to make sure you ask the right questions so as to avoid problems later. Asking questions while buying Millburn-Short Hills real estate can also help ensure the entire buying process goes smoothly. Here are questions to ask the seller while you're shopping for Millburn-Short Hills real estate:

How old is the house? The roof? The electric? The plumbing?

Knowing the answer to these questions will help you estimate how soon you will need to invest in major repairs. This is important for budgeting and could also factor into the negotiation process.

What is the square footage of each room and the entire house?

Knowing numbers related to size will help you compare and contrast different houses you're interested in. Different layouts, paint colors, and furniture arrangements can make a room feel larger or smaller than it actually is in reality. Numbers, however, don't lie.

How much do utilities cost on average? In summer? In winter?

This will help you with budgeting. Heating costs, for example, can vary wildly even for similar-sized houses based on how well a house is insulated, what type of windows there are, and other factors. Ask up front so you aren't faced with a major surprise once winter rolls around.

Have you had any pest problems, or treated for pests?

This includes termites, mice, cockroaches, ants, and more. If you do buy the house, you want to know what pest prevention maintenance is necessary and what to keep an eye out for in order to avoid problems.

What problems have you had living here?

Of course you can't be certain that the seller is telling you the truth, but it is worth asking what problems they have had while living there. Perhaps the basement has flooded, or there is a nuisance neighbor on the block. There are many things you can find out from doing research. You can find out the crime rate of the area, local transportation information, school district information including test scores, and prices the house has been bought and sold for over the years. The things that aren't public record, however, you might still be able to find out if you just ask.

Hopefully these questions will help you become as informed as possible as you shop for Millburn-Short Hills real estate. If you have any questions about buying a home, or would like to enlist me as your professional, do not hesitate to contact me!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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