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Whether you’re a first-time home buyer or you’ve gone through the process before, there’s a lot riding on the questions you ask when buying a house. In a competitive marketplace, it can feel a bit overwhelming with how fast things tend to move, and it’s easy to forget to ask something important. That can end up being a costly mistake, so make sure to be patient, thorough, and take the time you need to ask your real estate agent or the seller the right questions.

1. What’s my budget?

A question for your real estate agent, your mortgage broker, lender, and yourself, this is perhaps the most important question of the entire process. Before going into the homebuying process, you must understand how much house you can afford. It’s not as simple as entering your debts and income into a mortgage calculator — there are additional costs to consider, from property taxes and homeowners insurance to maintenance and renovations.

Before you start looking, talk to a mortgage broker and your agent to get some estimates of what monthly payments would look like on a house depending on your down payment and interest rates. You might be surprised how much more expensive it is to buy a home you thought was in your budget.��

You may have to go over the asking price to get a home you love, so having a firm idea of what you can afford and what you’re comfortable paying is crucial. Don’t forget to get pre-approved by a lender for an amount you feel comfortable spending, too.

→ Find out how much money you need to save before buying a house

2. How long has the house been for sale?

America has a housing shortage and it’s not always common for homes to stay on the market for more than a month or so. In very popular markets or seller’s markets, it’s rare. Knowing a house has been on the market for a long time could be both a red flag and an opportunity.

Sometimes, a house struggles to sell because the seller listed too high of a price at the outset. Every price reduction, then, looks like a warning sign to buyers that something is wrong with the house. For savvy buyers, however, it could be a perfect opportunity to negotiate. Coming in below asking price or negotiating contingencies or credits for fixing certain issues could be a great way to secure a great deal.

That said, sometimes a house has been on the market for a long time because there is something wrong. Make sure you and your agent are thorough in investigating all aspects of the house before making an offer.

3. What’s the natural disaster risk?

For one thing, it’s important to know if your new home is located in a flood zone or an area exposed to earthquakes, hurricanes, or fires. Perhaps more important, however, is understanding homeowners insurance premiums if any of these things are the case.��

A lender will always require a homeowners insurance policy, but many carriers don’t cover natural disasters under standard policies. As such, you’ll likely need additional coverages to satisfy the mortgage lender’s terms. That adds to your out-of-pocket costs, but it’s better to be covered than to pay for natural disaster-related damages yourself.

Here are the states with most and least natural disasters

4. Are there health or safety hazards?

Sellers must disclose information about potential health or safety hazards in the house, like lead paint, radon, or asbestos in the ceilings. For example, in many states, sellers of homes built before 1978 are required to fill out a lead-based paint disclosure. But it’s your responsibility, however, to get the complete picture by demanding documentation of any remediation efforts.

Here are some things to ask about:

• Termites or other pests
• Radon or poor air quality‍
• Mold
• Foundation issues

5. How old are the roof and major systems?

Homes are loaded with potential money pits. One of the most expensive repairs you can make to a house is replacing the roof. A roof’s life expectancy is between 25 to 50 years, so if the house you’re buying has a roof that is 20 years old, you may have to think about replacing it soon (the cost of a roof replacement can be over $10,000). If a roof needs imminent replacing, you may have some wiggle room in price negotiations with the seller, but at the very least, you need to budget for a potential major project in the coming years.

Similarly, systems like the HVAC, water heater, and major appliances can be very expensive to repair or replace. If you ask, a seller must disclose how old each of these items is and if they’ve had any problems in the past. Likewise, you can figure out if any of the equipment remains under warranty, which can save you some money on maintenance costs.

6. Were there any major renovations?

While you could ask yourself if there are any major renovations you’d like to make after moving in, this question is for the seller. Sometimes, property records and listing descriptions aren’t in lockstep with one another. If a home is advertised as a 4-bed / 2-bath, but one of the bedrooms doesn’t have any windows and one of the bathrooms lacks a shower, there may be something fishy going on.

If a seller has renovated or made additions to the home without proper permitting, the work may not be up to local building codes. This makes it dangerous, but it also means you’re on the hook to fix the work and bring it up to code should the city find out.

Always get detailed records for any of the repairs or renovations that the seller has done since owning the home. It will help you better understand the home’s condition and ensure that all the work was properly permitted so you don’t get hit with fines or mandated repairs.

7. How much do utilities cost?

Your monthly mortgage payment may be a static amount, but it doesn’t include ongoing living costs, like utilities. If you were renting before, your landlord may have covered certain utilities. In a house, you’re responsible for setting up and paying everything. Depending on your location and the type of water and electricity in your home, this could add a significant sum to your monthly expenses.

Your real estate agent should be able to get this information for you so you can have an understanding of how much utilities cost at different times of the year.

8. What’s included in the sale?

In most home sales, major appliances like refrigerators, dishwashers, and laundry machines are included because they’re such a pain for a seller to move. However, it’s not always the case. Before making an offer, verify everything that comes with the house so you know what you may have to replace.

9. How much do homes sell for in the area?

You can get a rough idea of home values in the neighborhood by looking at current and recent local listings, but your real estate agent will have even better data. If you’d like, they’ll perform a comparative market analysis (CMA) to get a good understanding of how much the home you’re looking at is really worth based on comparable sales. This will help you make a more informed offer.

Additionally, knowing what the house sold for previously will give you an idea of how much the seller stands to gain by selling now. If you aren’t bidding against other offers, this can give you some wiggle room for negotiation since you know just how much the seller stands to make.

10. Why is the seller leaving?

There are plenty of normal, non-nefarious reasons a person would sell their home. Occasionally, however, it’s not so simple. While a seller doesn’t have to be honest about their reasons for selling, asking them could give you a bit of valuable information to leverage in negotiations or to make you reconsider an offer at all. For instance, if the seller has just gotten tired of pouring money into an old house that needs constant maintenance, that may be a dealbreaker.

11. What is the neighborhood like?

When you move into a new home, you’re not just getting the home, you’re getting the entire neighborhood. This is where you’re going to spend most of your time for the coming years, and it may be where your children grow up. Your real estate agent can answer general questions about the neighborhood in terms of restrictions from a homeowners association (HOA), schools, parks, and reputation, but asking the seller about the neighborhood will give you more specific information.

The seller can tell you about the neighbors, whether it’s a kid-friendly neighborhood, and details about neighborhood happenings like block parties. You don’t have to know your neighbors, but if you’d like to, asking the seller about them is a good foundation to go from.

Here’s how to choose the right house location��

12. How much will I pay in closing costs?

Generally, buyers should expect to pay between 2% and 5% of a home’s purchase price in closing costs. That’s important to factor into your budget since it could be several thousand dollars more on top of your down payment. Your real estate agent and lender can give you an estimate of expected closing costs so you can come to the closing table prepared to spend that extra cash.

Learn more about closing costs you’ll pay as the buyer

13. How long do I plan to live here?

Your move-out date for the home you’re planning to buy is probably the last thing you want to think about, but it’s an important question to ask yourself at the beginning of your search process. Your needs in a starter home will be different from your needs in a forever home and your planned length of stay in a home can have a big impact on your budget.

→ How soon can I sell my house after buying it?