In many of our blogs and posts, we talk about the steps buyers should take towards being prepared to buy. We usually highlight the importance of securing a pre-approved mortgage, validating your budget and assessing your finances. But there are other critical questions we believe a buyer should know to ask before making a firm decision to purchase a home.
A successful home purchase begins with a vision and a well-thought-out plan. Start your journey off right by downloading our Home Buying Guide.
Questions Beyond the Obvious
First-time buyers and seasoned buyers alike typically land the obvious questions upfront when inquiring with a realtor about a house for sale. The common questions we hear from buyers are typically:
- What is the list price?
- How big is the house?
- How big is the yard?
- How big is the garage?
- Is it a busy street?
- Is there a pool?
- Has the house been updated?
These are all important questions, but there are several other critical verifications a home buyer should make that these questions simply won’t cover.
As realtors, we have a responsibility to ensure our home buyers make smart, appropriate and well-informed buying decisions. In this article, we’ll highlight five unexpected questions we recommend asking about any Burlington home you’re considering purchasing.
Speaking of obvious questions, “where should I live” is often high on the list! You may just find the answer in the posts below:
- Shining a Spotlight on the Neighbourhoods of South Burlington
- A Behind-the-Scenes Tour of the Neighbourhoods of North Burlington
- Christopher and Mallory Move to Burlington: A Team Logue Case Study
What Is the Home’s History?
The first of these deeper probing questions to ask is “what is the sales history of this home?” This key inquiry will inform a buyer whether the house has been purchased and resold recently, or if it has been owned and maintained consistently by one owner.
Understanding the ownership history can indicate stability or signal the need for deeper probing. If a home has been purchased and resold more than once in a short period, there may be a reason a buyer will want to know. Have your realtor research the home’s history and recent transactions.
Are Any Developments on the Way?
The second smart question to ask is, “Are there any planned construction projects in the neighbourhood?” No buyer wants to be surprised by a zoning change or a major construction project that could impact the surrounding traffic, noise levels and desirable features of the neighbourhood.
Alternatively, newly planned parks or convenient shops opening up nearby can raise the home’s value. We strongly recommend a visit to the local city hall to ask about upcoming building projects or zoning changes close by.
Your realtor can also inquire with other realtors who are most familiar with those neighbourhoods and have purchased and sold homes in the area. Don’t be afraid to talk to neighbours, walk or drive the surrounding streets.
What About the Property Survey?
The third elusive question to add to your bag is “Where are the property lines and are there any easements or rights-of-way on the property?” You may be wondering why we think this question matters.
To illustrate, we’ll share a little story about buyers Mike and Rachel. They bought their first home in Burlington a few years ago.
At the time of purchase, the home was surrounded by a mature line of tall shrubs that served as excellent privacy from the neighbours. When Mike and Rachel added a dog to the family the following year, they decided to construct a fence in place of the shrub line to secure their new furry friend.
A few months later, Mike and Rachel’s neighbour decided to sell their house. The new buyer of that house hired a surveyor who discovered that Mike and Rachel’s fence was situated three feet inside their property line.
After closing on the purchase, the new owner legally demanded that Mike and Rachel remove their fence from his property, causing the couple financial loss and damaging their relationship with their new neighbour.
The lesson here for buyers is to ask your realtor to obtain a current survey of the property. If there is no current survey, you can hire a surveyor to confirm exactly where your property lines are and whether anyone other than you has the right to walk, drive or access any part of your land.
How Much Will My Estimated Utility Costs Be?
Our fourth astute question we recommend every buyer asks before buying a home is simply “what are the average utility costs for this home?”. This is a pretty savvy question we want buyers to ask.
You’ll want to verify that you can afford the monthly utility costs. In addition, abnormally high heating or water bills could suggest older, drafty windows, poor insulation or leaking fixtures.
This is an excellent tip for your home inspector to investigate thoroughly before you complete your purchase agreement. Knowing what repairs or updates a home needs lets a buyer adjust the purchase price to account for them.
Looking for more insight before searching for your next home? Start by reading the posts below:
- What to Look for in a Forever Family Home
- How to Buy a House in Ontario: Insider’s Edition
- How Team Logue Helps You When Buying a House
Will I Be Able to Get Home Insurance?
The fifth and final question we’ll call out in this article is fundamentally necessary yet all too often overlooked when buying a house. It centres on insurance, a contractual requirement for securing a mortgage to buy a house in Ontario.
An experienced realtor should ask the seller to provide a claims history letter from their insurance provider showing any claims made over the last 5 to 7 years. Your realtor can make the provision of this letter a condition of the Purchase and Sale Agreement. Reviewing any past claims informs the buyer of previous damages and claims that could impact the risk and safety profile of the property, positively or negatively.
Your realtor should also add an insurance condition into your offer that makes the offer conditional on you being able to obtain insurance on the home. A few conditions that could make it difficult to obtain insurance on a home include outdated systems, such as:
- Kitec Plumbing
- Galvanized Steel Pipes
- Knob and Tube Wiring
- 60 Amp Electrical Panels
- Underground Oil Tanks
- Former Marijuana Grow Operations
- Designated Flood Zoning
Although not exhaustive, the above list covers some rather common conditions we see in older Burlington homes that could take buyers by surprise and prevent them from securing home insurance. Failing to secure coverage can completely collapse your real estate transaction.
There are no wrong questions to ask your realtor when you are considering buying a home in Burlington. At Team Logue, our history and experience in this market mean buyers can be sure they are making informed decisions when purchasing a house. Our agents don’t just work in Burlington; we live here too.
Looking for more information on Burlington homes and neighbourhoods or for customized guidance throughout your buying journey? Get in touch with our Burlington real estate agents today by filling out the form on this page, calling us at 905.331.6790, or emailing us at sarah@sarahlogue.ca.
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