<font size="3" color="#990000"><strong>Questions You Should Ask When Buying A New Home</strong></font> <p><span style="font-size: 10pt; line-height: 200%; font-family: ‘Verdana’,’sans-serif’; letter-spacing: 1pt">Buying a new home can be a very exciting time in a person’s life. There are many considerations one should be aware of before taking the plunge into new homeownership. Before you make this huge life investment, you should ask yourself the following questions:</span></p><span style="font-size: 10pt; line-height: 200%; font-family: ‘Verdana’,’sans-serif’; letter-spacing: 1pt"><p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>Can I afford a new home?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">When buying a new home, you have to consider the financial implications of homeownership. You have to consider the mortgage payments, the down payment, fees such as closing costs and lawyer expenses, taxes, and other costs. Use an online financial calculator that takes your income and debt and calculated it to determine how much you can afford.</p> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>Does the new home meet my requirements?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">Make a list of all your needs. Consider children and pets. Are there enough bedrooms and bathrooms? Is the yard big enough for a pet? Do you need a home office? If you have children, check to see if parks and schools are close by. Do you have to travel a long distance to work? What is the crime rate like in the neighborhood? How close is your home to supermarkets and malls? Is their a neighborhood development association that imposes strict rules?</p><p style="margin: 0in 0in 0pt" class="MsoNormal"> </p><div style="text-align: center"><object classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,29,0" width="425" height="282"><param name="movie" value="../images/banners/1b.swf" /><param name="quality" value="high" /><param name="menu" value="false" /><param name="wmode" value="" /><embed src="../images/banners/1b.swf" wmode="" quality="high" menu="false" pluginspage="http://www.macromedia.com/go/getflashplayer" type="application/x-shockwave-flash" width="425" height="282"></embed></object></div> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>Are there any hazards?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">Check to see if the home is in a high risk area such as flooding, earthquakes, tornados, and hurricanes. You may have to pay higher insurance premiums. Also, find out what home inspections are needed.</p><p style="margin: 0in 0in 0pt" class="MsoNormal"> </p><p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>What are the sale closing costs?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">Closing costs are the costs associated with the sale transaction. This can include fees for legal documents, recording deeds, escrow fee, real estate commission fee, reconveyance fee, and Title Insurance.</p> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>Is the exterior of the house in good condition?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">When assessing the exterior of the house, ask such questions as: What materials were used for the exterior? Do the trim or sidewalls require painting? Is weather-stripping installed? Do windows and doors have insulated glass or storm windows? What is the condition of the gutters? Is the foundation in good condition? Is the ground sloped away from the foundation? What material is used for the foundation?</p> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>Is the interior of the house in good condition?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>Are there cracks in the walls and/or ceilings? Has the interior been recently painted?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">Are the kitchen cabinets installed properly? Do the doors open and close properly? Are there exhaust fans in the kitchen and baths? Is the interior trim in good condition? What is the condition of the door knobs and locks? Are there any visible structural defects? Is the attic area insulated? Are there any sloping floors in the home? Is there an attic fan for ventilation?</p> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>What is the condition of the heating, electric system, and hot water system?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">Is the incoming electric service properly installed? Is the main electric panel easily accessible? Are there adequate light fixtures throughout the home? Are lighting fixtures installed at all exterior entrances? Is the number of electrical receptacles in each room sufficient for modern living? Are ground fault circuit interrupters (GFCI) installed?</p> <p style="margin: 0in 0in 0pt" class="MsoNormal">What type of furnace or boiler is installed? (Hot air, hot water, heat pump, etc.) What type of fuel is used for heat? Does the home have central air conditioning? Is the size water heater adequate for your needs? Are there heating/cooling outlets in each room?</p> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>What is the condition of the plumbing system?</strong></p> <p style="margin: 0in 0in 0pt" class="MsoNormal">What is the source for water and sewer? (City, private, well, septic) What materials are used for water and sewer pipes? (Copper, PVC, iron, etc.) What is the quality and quantity of the well water? Do the plumbing fixtures work properly? Is the water pressure adequate?</p><p style="margin: 0in 0in 0pt" class="MsoNormal"> </p><div style="text-align: center"><object classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,29,0" width="425" height="282"><param name="movie" value="../images/banners/1c.swf" /><param name="quality" value="high" /><param name="menu" value="false" /><param name="wmode" value="" /><embed src="../images/banners/1c.swf" wmode="" quality="high" menu="false" pluginspage="http://www.macromedia.com/go/getflashplayer" type="application/x-shockwave-flash" width="425" height="282"></embed></object></div> <p style="margin: 0in 0in 0pt" class="MsoNormal">Buying a new home is a serious life commitment with lasting costs. Before buying a home, make sure you consider all of the positive and negative aspects of homeownership so that your final decision will be the right one.
</p> <p style="margin: 0in 0in 0pt" class="MsoNormal"><strong>About the Author</strong></p><p style="margin: 0in 0in 0pt" class="MsoNormal"><span style="font-size: 10pt; line-height: 200%; font-family: ‘Verdana’,’sans-serif’; letter-spacing: 1pt">Builder Company based in Southwestern Ontario. Visit in one of our offices at Guelph, <a href="http://www.fusionhomes.com/index01.html#/home/" target="_blank">Kitchener home</a> and <a href="http://www.fusionhomes.com/index01.html#/home/" target="_blank">London Ontario Home</a>.</span></p></span>
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