Tips For Buying Ottawa Real Estate
Last updated on May 11th, 2021 at 01:12 pm
When it comes to buying Ottawa area homes for sale, there are three very important factors you should always consider:
- The condition of the home
- The home’s location
- The listing price
Having all the information you can about these three factors will help you determine whether it’s worth it to buy the Ottawa area real estate you’re considering.
Continue reading to learn more about what types of questions you should be asking when it comes to each of these factors.
Ottawa Home Buying
Having a firm understanding of what sort of condition a home for sale is in is a vital part of the home-buying process. After all, you don’t want to buy a home that’s in need of several costly repairs.
Here are some questions you should be asking when it comes to the home’s condition:
- What sort of shape is the roof in and how old is it? Keep in mind, the life expectancy of a roof can vary greatly, from 15 to 50 years.
- What sort of foundation is the home sitting on? Typically, if it’s a newer construction home you can expect a slab foundation. Older homes generally have raised foundations.
- Are the home’s walls and attic insulated? In an area like Ottawa, you want to make sure they are so that they keep heat in during our cold winters.
- What’s the age of the home’s appliances? Just like with the roof, you could be looking at costly repairs and replacements if you purchase a home with outdated appliances.
As they say in real estate, it’s all about location, location, location. A less-than-ideal location will not only make your life more difficult while you’re a resident there, but it will also make it harder to resell the home.
Here are some questions you should be asking when it comes to the home’s location:
- What’s the zoning for surrounding parcels of land? If you’re near an industrial park or multi-family apartments, it may be harder to sell your home down the road.
- What schools is the neighborhood zoned for? This can play a major role in whether your home sells quickly later on, especially if the interested home buyer has a young family.
- Are there any amenities in the area that some would consider a nuisance? This includes a relentless barking dog next door or a bustling highway nearby.
When it comes to listing price, you want to make sure you’re getting the biggest bang for your buck. Knowing some background on the seller’s listing price can help you with this.
Ottawa Real Estate Market
Here are some questions you should be asking when it comes to the home’s listing price:
- How much did the seller originally pay? Knowing this will help you ascertain whether values are going up or down in the area.
- What have similar-sized homes in the vicinity sold for in the last six months? This will tell you whether the home you’re looking at is under- or over-priced.
- How many days has the home been on the market? The longer it’s been on the market, the more wiling the seller will likely be to negotiate with you on the price.
Bobbie and Geoff McGowan Real Estate Agents
To learn more about the services expert, professional Ottawa area REALTORS can provide you and your Ottawa homes for sale search, then contact Ottawa real estate agents Bobbie and Geoff McGowan today!
Until next time,