10 Questions Buyers Should Ask About Any Potential Purchase

There are a number of obvious questions one should ask when considering a home purchase. Price, number of bedrooms and bathrooms, square footage and amenities are all obvious points of interest when assessing the quality of a home. Layout, yard and potential for improvement also weigh heavily on buyer’s decision-making process. But here are some additional questions that should be considered as you embark or continue your search for your dream home. They are also questions sellers should consider with their agents as they develop their marketing strategy.

1. What is the neighborhood like?

2. What does this property look and feel like from the street and as you walk toward the entry?

3. How does the interior flow?

4. Do you like the fittings and finishes?

5. Are the home’s systems (like HVAC) up to date or on their last legs?

6. How spacious do rooms feel?

7. Will your furniture fit well within the space available?

8. Are the bathrooms big enough to accommodate your family?

9. What’s the view like?

10. What does it smell like?

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All these questions are important to consider as you decide on your ideal new home and can be quite useful in doing a comparison between two or more properties you are considering.

Word/Phrase of the Week

CPI: Consumer Price Index

Since we are likely to keep hearing about inflation, I thought it might be useful to touch on the most popular indicator of where it stands at any given point. The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. As prices rise, so does the inflation rate.

If your wages go up the same amount, price increases are not necessarily bad, but inflation is almost invariably bad for investors, as it means the value of their total investment has decreased, as it can now purchase less things (purchasing power). On the other hand, inflation generally indicates economic growth, which is usually reflected in an increase in pro growth investment value, so the two can offset one another. To put it simply, though, rising prices without an increase in income means a decrease in what you can buy and, holding all else equal, in the real value of your non-tangible investments and assets.