3 Things You Should Always Do During an Open House as a Buyer

If you're looking to buy a home, you'll ideally partner up with a real estate agent who can guide you in your search. That means arranging showings so you can check out different properties at a pace that's comfortable for you.

But your real estate agent might also suggest that you attend some open houses in the course of your house hunting. Or, you might stumble across an open house in your neighborhood independently and decide to pop in.

Attending an open house certainly isn't a bad idea. Quite the contrary -- it's a good way to check out a home without pressure. But if you're going to attend an open house as a potential buyer, make certain to do these important things.

1. Look out for obvious signs of damage

Buying a home today is hardly an inexpensive prospect. It costs a lot to sign a mortgage loan, especially with borrowing rates being up. And so if you're going to purchase a home, you'll want one in good condition.

It's important to be on the lookout for signs of property damage during an open house. These include water stains on the ceilings, cracks in the walls, and mold, which might look like black spots on walls or in corners.

An issue like a leaky roof or sinking foundation could cost thousands upon thousands of dollars to address. If you're already paying up for a mortgage, chances are, you don't want extra surprises.

2. Test the water fixtures and appliances

If you're attending an open house and the property in question seems like a good fit, be a little nosy -- you're allowed. Turn on faucets to make sure they run, and turn on showers to get a sense of how happy you are with the water pressure.

Also, flush toilets to make sure they work, and try to test out appliances if they're being sold with the house. This doesn't mean you should bring laundry along to make sure the washing machine is up to par. But it wouldn't hurt to quickly press the start button on the dryer to make sure it operates.

3. Listen to what other prospective buyers are saying

There may be other buyers roaming around an open house at the same time as you. And eavesdropping on their conversations could work to your benefit.

If you're interested in the property and hear that another buyer is looking to make an offer, that might prompt you to take action quickly rather than risk losing out on that home. And if you hear other prospective buyers criticizing the home, pay attention -- they might call out a problem you didn't identify yourself.

Should you make an offer during an open house?

Quicken says that most of the time, a home won't sell in the course of an open house alone. Rather, open houses are a way to get buyers in the door.

If you've seen your fair share of homes and come away from an open house with a positive impression, then you may be inclined to make an offer on the spot. That's not necessarily a poor choice, especially if your real estate agent agrees that it's the right move.

However, you should also know that today's housing market isn't the same competition-laden one as 2020's and 2021's. Yes, there are still more buyers than available homes. But buyers also aren't clamoring for homes the way they were a few years ago when mortgage rates were really low.

So if you come away from an open house unsure of what to do, you may want to err on the side of sleeping on it. Better yet -- if you think the home has potential but you're just not certain, ask your real estate agent to set up a private showing. That way, you can take your time exploring the property to come to a decision.