7 Questions You Should Ask at an Open House #6: Are Any Special Costs of Ownership Attached to the Property?
7 Questions You Should Ask at an Open House
Question #6: Are Any Special Costs of Ownership Attached to the Property?
Sometimes, a home isn't just a home and what you see isn't always what you get. This is true even in real estate unfortunately.
So, the sixth question you should ask at an open house is are there any special costs of ownership attached to the property. Is there a homeowner's association that levies dues and assessments? If so, who belongs to the association and who manages its affairs? Is the home located in a special property tax assessment district? If so, how much is the annual tax assessment and how is that money used? Is the home in a flood hazard zone? If so, how much are the annual flood insurance premiums? Are there any other hidden costs of ownership (like tax liens)?
If you want to buy a home with as few surprises as possible, find out if there is anything else coming along with the purchase of the house!
Emcee Arah
RE/MAX Excellence Realtor with Architectural Dimension
Serving all your Real Estate needs in MD, VA & Wash., DC
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