When deciding on a house, you want to be absolutely sure that it meets your needs before making an offer and going unconditional.

Finding the right home means research, so you’ll need to ask the right questions. That way you know you’re making a competitive offer on a home that you can afford.

To help you buy the right home for your needs, ask yourself these questions;

1. What’s my total budget?

It could be a waste of time to start looking at houses without understanding how much house you can afford. There are additional costs to consider other than the purchase price, such as stamp duty and mortgage registration, strata levy if the property has a body corporate, ongoing home maintenance and any home improvements you want to do.

If the market is competitive, showing the seller you have the financial means to buy their house is important if you want your offer to be accepted. This means getting preapproved for a mortgage.

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2. Is the home in a flood zone or prone to other natural disasters?

A property that’s in a flood zone or other natural disaster area may have lending restrictions placed on it. For example, lenders may be willing to lend maximum 80 percent of the property value when they are lending up to 95 percent to property’s not deemed to be in danger zones.

Also, home insurance premium is likely to be expensive for homes in areas regarded as prone to natural disasters.

3. Why is the seller leaving?

Understanding why the seller is moving — whether it’s due to downsizing, a job relocation or as a result of a major life event — might help you figure out how motivated they are when negotiating.

A motivated seller who needs to move quickly or whose home has been on the market a while is more likely to work with you than someone who isn’t in a rush to move.

4. What’s included in the sale?

Anything that’s considered a fixture is typically included when purchasing a house — think cabinets, faucets and window blinds. However, there could be items that you think are included with the home but actually aren’t.

Make sure to ask in your offer what is (and isn’t) included with the home. Do you really want the washer and dryer, or that stainless-steel refrigerator? Ask if the seller will throw these items into the deal.

5. Were there any additions or major renovations?

In some cases, property records and listing descriptions don’t always match up. A home might be advertised as having four bedrooms, but the room on the first floor doesn’t follow local building codes and not council certified.

Find out what major repairs or renovations the seller has done since owning the home, and request the original manufacturer warranties on any appliances or systems if those have been replaced. Knowing a home’s improvement history can help you better gauge its condition and understand the seller’s asking price.

6. How old is the roof?

Let’s face it: roofs are necessary and expensive. If a home’s roof is at the end of its lifespan and you wind up having to replace it shortly after move-in, you’ll be shelling out thousands of dollars. Ouch.

If the roof has existing damage, your lender may require that it be repaired in order to approve your loan. In other words, if the listing description doesn’t list the roof’s age, make sure to find out ASAP to avoid a costly headache later.

7. How old are the appliances?

Again, understanding the anticipated lifespan of essential systems and appliances, such as the air condition, water heater, washer, dryer and stovetop can help you anticipate major repair or replacement expenses. If these items are already at the end of their lifespan or near it, ask the seller for a discount on the selling price.

8. How long has the house been on the market?

The longer a house has been on the market, the more motivated the seller will be to make a deal. This means you might find flexibility to negotiate the price, terms and cost of replacing outdated hot water system or other noticeable issues.

Many times, a home will languish on the market if it was priced too high at the onset, resulting in the need for multiple price reductions. A listing that shows multiple price cuts and has been sitting on the market too long may give buyers the impression that something is wrong with it. And that gives you a prime opportunity to negotiate a deal.

9. How much have homes sold for in the neighbourhood?

Understanding the current local market will help you determine if a seller’s asking price is on target — or way too high. At loansHub we can provide our customers with comparable sales report for similar homes that are currently on the market and have sold in the last three months or so as a basis for comparison.

10. Are there any health or safety hazards?

Items like lead paint, asbestos, mould or other major hazards can be costly to address once you become the owner. Ask the seller to provide documentation if there have been past issues and find out exactly what was done to resolve those problems.

11. What are the neighbours like?

Getting the true feel of a neighbourhood can be difficult before moving in, but this aspect shouldn’t be overlooked. Ask the seller what the neighbours are like. Noisy or quiet? Is it a pet-friendly place or are there few pets around? Are the existing neighbours friendly or more likely to keep to themselves?

Just be wary, relying solely on the seller to reveal these details may not be the best idea.

12. How is the neighbourhood?

You can always change a house and fix things you don’t like, but the neighbourhood is there to stay. It’s important that you like the environs you’ll be living in for the next 2, 5 or 10 years.

The selling agent can help you find out key information, such as community amenities, crime statistics, school ratings and how busy traffic is where you’ll be living.

Thankfully, the internet is also a great resource for researching. And don’t forget to time your commute to work — which might be a deal breaker.

13. Are there any problems with the house?

It’s critical to get a building and pest inspection done by a professional home inspector as soon as a purchase agreement is signed.

The inspection report outlines the home’s overall condition and can help you negotiate future concessions, such as repairs, before the contract becomes unconditional. If a home has too many problems and you included a subject to building and pest clause, you’ll be able to back out of the deal without penalty and (in most cases) get your earnest deposit returned.

14. How much will I contribute on settlement day?

The deposit isn’t the only cash you’ll be forking over on settlement day. You’ll also be responsible for settlement cost, which typically include loan origination fees and conveyancer fees for title search, processing of paperwork and attending settlement.

The draft settlement statement, which your conveyancer should provide a copy of, at least three business days before settlement, will spell out all of your loan fees and how much cash you’ll need to settlement so that no delay or postponement occurs.

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This article via Bankrate does not constitute advice; readers should seek independent and personalised counsel from a trusted adviser that specialises in property, a tax accountant and property design specialist.