Are you searching on Zillow every hour on the hour to find your dream home? Are you thinking about buying a new home, but you just don't know where to start in the process?
Hi, my name is Janine Rosario and I'm a Real Estate Agent here in the Orlando and Central Florida area. I am going to give you three important questions to ask as you start down this home buying journey, regardless of the market. The number one question to ask is, How much of a home can I afford? This means you're going to contact a lender; I always recommend contacting at least three, and get quotes from them on how much of a home loan they're willing to lend you. They could also provide you with the estimated taxes and insurance costs, so you know upfront an estimate of how much it's going to cost per month for the new home.
Second question, when you have a real estate agent and you're going on the showings, you're going to ask is, What is the age of the roof and the AC? The roof and the AC are generally the most expensive repairs you're going to have as a homeowner. So you definitely want to know this information upfront, as well as the age of the roof, depending on how old it is, could affect your homeowners insurance premium. You can also pose these questions to your home inspector during the home inspection.
The last question that you are going to ask, Is this home located in a flood zone? If this home is in a flood zone, then that means you're probably going to have to purchase additional flood insurance, that's not covered by homeowners insurance. Check out FEMA’s flood maps to get an idea if the area that you're looking to purchase in is located in a flood zone.