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House Hunting Tips: 8 Things You Need To Know When Visiting An Open House

Interested in buying a property? You should attend an open house! An open house is when prospective buyers get the chance to have a tour of a house for sale. Usually, this kind of event happens on weekends, especially on Sundays.

An open house and a private showing are different from each other. In an open house, there is no need for individual scheduling because the house will be open for hours. Meanwhile, private showing should be done on specific appointments.

 

If you’re interested in a house or property, it’s an advantage to attend an open house to let the owners know that you’re determined to bid. Whether it’s pre-owned or display homes, your presence is appreciated.

 

First time to attend an open house? Check these 8 things you need to know before visiting one!

1. Do some research

When you see a property up for sale, you should do some research first before you visit the house. It’s nice to have prior knowledge about it so that you’ll not be surprised about facts that are researchable.

In addition, you should be aware of the details such as total area, mortgage rates, and how long has it been in the market. You can also email

You can also ask your agent (if you have one) about the things you are not familiar with. However, if you don’t have an agent, you can also ask questions when you’re in the open house.

2. Choose your preferred location

Of course, one of the things you should consider when buying a house is the location. Make sure that it’s conveniently placed near your work, school, and market.

In addition, you should assess the lifestyle of the neighbourhood, and the environment of the property you’re interested in buying. If you have kids, find a place that’s not too noisy because it may irritate them.

3. Wear appropriate clothes

If you’ve decided to attend the open house, although it’s an informal event, you should still look presentable. If you’re just wearing clothes as if you’re at home, the host and property owner will not take your offer seriously. Moreover, they might think that you’re just like one of those characters in movies who attends open houses to get free stuff.

If you’re interested, you should wear decent clothes. It doesn’t have to be formal because a casual outfit is enough.

clothes

4. Follow their rules

Open houses have their own set of rules. It depends on the host, agent, or the owners. Of course, if it’s a pre-owned house, there may be people who are still living there. However, if you’re visiting display homes, then there may be fewer rules.

Some common rules in open houses are:

  • Leave your shoes before you enter
  • Introduce yourself and sign in
  • Don’t speak too loud (you may interrupt other buyers)
  • Don’t enter a room yet if others are still inside
  • Let the host know if you notice something unusual

The aforementioned rules may not always be requested, but it’s better to be prepared.

5. Ask questions

Have a lot of questions you can’t look up on the internet? Attending the open house will give you an opportunity to ask them.

It’s best to prepare questions beforehand so that you’ll be able to address the things you are worrying about. The sooner you get your answers, the easier it is for you to decide if you still want to buy the house.

Fun fact: If you currently don’t have any agent or representation, you can hire the agent who’s in charge of the open house. It’s a common thing that the buyer and seller have the same agent.

6. Know your competitors

If you want to know if there are other interested parties, you can simply ask the agent. Although the agent may not say their names, at least you’ll know the figures. It’s best to be aware of how much you’re dealing with so that you won’t get disappointed

Want to identify serious buyers? When you enter the house, you can easily spot the people who are interested. Usually, they ask many questions, they have a checklist, and they already have an offer. However, you should stay calm and review your chances.

Another thing to look out for is the time people spend looking around. If they don’t inspect too much, there may be something wrong.

7. Get some feedback about the neighbourhood

Checking out the neighbourhood is not a bad thing. It’s better to be aware of what you’ll be dealing with. You can interview a few neighbours, and check if they have any regrets about moving there. If you have some free time, you can also do this when you visit the open house.

You can also prepare a set of questions while interviewing the neighbours. However, it’s better to just keep the questions in your mind so that you can easily talk to them.

neighborhood

8. Know your final thoughts

After all the questioning and researching, ask yourself if you’re still interested. If there are other buyers, you won’t have a lot of time thinking about it. However, the questions and information you gathered will help you to easily decide.

If you think the property’s not for you, at least you get the chance to experience how an open house works. In addition, you’ll have a clear idea of what kind of property you want to buy in the future.

 

Did you have fun at your first open house? Whether you’re interested in display homes or pre-owned property, it’s best that now you know how it goes. Let us know what you thought by leaving a comment below.

Aliana Baraquio

Aliana Baraquio is a web content writer during the day, and an aspiring chef before dinner time. You can catch her browsing the internet for the latest hairstyles and hair care tips in her free time.

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