As a Realtor, I hear my fair share of questions regarding home buying. Here are some of the most common ones, with some helpful answers.

1. How can I figure out what type of home I can afford?

The realtor.com Home Affordability Calculator is a great tool to use. Set a budget based on your income and other financial factors and keep this budget in mind while shopping around for your new home.

2. How does selling your current home while buying a new one work?

You can do this one of several ways. Buying a home before selling your current one ensures you have a place to stay, but can be financially taxing. Selling your home before finishing the contract on your new one means you need to find a place to rent while waiting to move, but saves you monetarily. You can also use a contract with a sale contingency clause, which states that you only agree to buy a home if you are able to sell your current one.

3. How many homes should be seen before we make our choice?

On average, people look at ten houses before making a purchase, but that number is up to you. There is no set number to finding your perfect home.

4. What’s a fair price for the seller?

You have to read the situation. How long has the home been on the market? A while? Then you probably have more room to negotiate. Not long at all? You may have fierce competition and haggling too much may lose you the opportunity.

5. How can I judge whether a property is a good deal?

Looking at other homes’ prices in the area is a great way to determine whether or not your potential home is at an agreeable price.

6. How long does it take to close on a house?

On average, it takes thirty to forty-five days to close. During that time, it’s a great idea to get a home inspection  or finish getting a loan approved.

Article Citation: Heidenry, Margaret. (February 19, 2016.) “The most common questions asked by home buyers — answered!” YAHOO! News. Retrieved February 21, 2016 from: http://news.yahoo.com/most-common-questions-asked-home-113056724.html?soc_src=mail&soc_trk=ma&nf=1.
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