Attending open houses is a crucial part in the process of purchasing a home, which is a significant financial commitment. But it's not enough to just stroll around a property and take in the layout. You must ask the appropriate questions in order to make an informed choice. The ten most important questions to ask at a Calgary open house are broken down in depth below.
Asking the appropriate questions at an open house is crucial to making a wise buy; it's not just about aesthetics. You will be in a better position to make an informed choice if you obtain comprehensive information on the property, its history, and the surrounding area.
1. Why is the Seller Moving?
Knowing why the home was sold might give you important information about the neighborhood and property. This is why the question is important:
- There probably won't be any problems with the property itself if the seller is moving for employment or upgrading to a bigger house.
- Before making an offer, you should find out if they're moving because of rising property taxes, noise, or crime.
- A vendor that is eager to sell can be more open to haggling over the price.
Question for Follow-Up:
In recent years, have there been several owners? A high turnover rate may be cause for concern.
2. How Long Has the Home Been on the Market?
An extended period of time spent on the market may be a sign of possible issues. Here are some things to watch out for:
- A house that has been on the market for a number of months may be overpriced or purchasers may have discovered hidden problems.
- The seller might be less open to haggling if the house has recently been listed.
- It's possible that a house that was under contract but returned to the market experienced problems with finance or an inspection.
Question for Follow-Up:
Has the cost been lowered? This may be a sign of trouble selling.
3. Are There Any Recent Renovations or Major Repairs?
A home's worth might rise with renovations, but it's crucial to make sure they were completed correctly.
- Work Quality: Find out if the renovations were DIY projects or if they were completed by certified professionals.
- Major Repairs: New additions such as a new roof, furnace, plumbing, or electrical work are advantageous. However, you may need to set aside money for repairs if the house has antiquated systems.
- Permits: Major renovations in Calgary frequently call for permits. Reselling the house could be problematic if the seller completed work without a permit.
Question for Follow-Up:
Can I view the permits or receipts for the work completed?
4. What Are the Average Utility Costs?
Because of Calgary's frigid winters, heating expenses may add up.
- Inquire about the typical monthly expenses for property taxes, water, gas heating, and electricity.
- High utility expenses could be a sign of ineffective heating systems or inadequate insulation.
- Costs may be lowered if the house has energy-efficient improvements or solar panels.
Question for Follow-Up:
Does the house have any energy-saving features?
5. Are There Any Major Issues With the Home?
Although it is legally necessary for sellers in Alberta to disclose known concerns, you should still ask directly.
- Fixing structural issues like mold, water damage, or foundation fractures can be costly.
- Another issue, particularly in older homes, is termite, ant, and mouse infestations.
- You should find out what repairs were completed if the house has previously experienced damage (such as water or fire).
Question for Follow-Up:
Has the house ever experienced foundation problems or water damage?
6. What’s Included in the Sale?
The purchase might not include all of the home's amenities.
- The dishwasher, stove, and refrigerator are typically included, but it's a good idea to double check.
- The seller may remove drapes, blinds, and light fittings.
- Make sure to find out if the security system, hot tub, or backyard shed are included in the transaction.
Question for Follow-Up:
Will the seller be bringing any exclusions with them?
7. What’s the Neighborhood Like?
The neighborhood has a significant impact on your quality of life, even if a house appears to be ideal.
- Schools: Find out how good the local schools are if you currently have children or intend to.
- Crime Rates: Consult the agent or research local crime data.
- Noise Levels: Flight paths, railroad lines, and busy streets may be a deal breaker.
- Amenities include parks, grocery stores, and public transportation.
Question for Follow-Up:
How are the neighbors? Is the community social or quiet?
8. How Competitive Is the Market Right Now?
The real estate market in Calgary is erratic, and it's critical to comprehend the degree of competition.
- You might have to make a decision soon if homes are selling swiftly.
- You may be able to haggle if there are more homes available and the market is a buyer's market.
- Information about previous sales and whether homes are selling for more or less than the asking price can be obtained from your agent.
Question for Follow-Up:
Does the property have any other offers?
9. Has the Home Had a Home Inspection Recently?
A recent house inspection by the seller can help you identify any issues, but you should always do your own.
- Any problems the seller has already fixed can be found during a pre-listing examination.
- You should look into this more if an examination revealed issues but the seller chose not to address them.
- It is much more important to schedule an inspection before making a purchase if one has not been completed.
Question for Follow-Up:
If the house inspection report is available, may I view it?
10. Are There Any Future Developments Planned Nearby?
Future changes may significantly affect lifestyle and real estate values.
- There may be an increase in noise or traffic due to new roads, commercial buildings, or high-rise condominiums.
- Demand and property values may rise as a result of new schools or shopping malls.
- Changes to the rezoning could impact the neighborhood's character.
Question for Follow-Up:
Are there going to be any significant city projects or proposed zoning changes?