How to Get the House of Your Dreams for Less
Most people are aware of the fact that there is room for negotiation in the property market. However, getting the house of your dreams for less is a lot easier said than done, and one wrong move could ruin your chances. With that being said, in this post, you will discover some of the best ways to go about getting the house of your dreams for less. So, let’s take a look at some suggestions…
Do your research
There is only one place to begin, and this is by doing your research. You need to explore the property market in the area you are considering. Find out about the average price of houses in the area for the type of property you have in mind. You should also assess the market to see whether house prices are increasing or not, and what the picture looks like in the future. By doing this, you will be armed with all of the information you need to negotiate. After all, you can’t ask for a reduced price without having a solid reason for doing so. Plus, you may even find that the house you are considering is priced at a great rate to begin with, which could give you the push to snap it up as soon as possible.
Ask for professional advice
Don’t be afraid to ask your real estate for some advice on whether you should try and drive the price down, and how you should go about doing so. It is important to realize that companies like Nu Home Source Realty are on your side too. After all, they want to do all in their power to secure a sale, and if this means the price may need to be knocked down slightly, they are going to advise you on how to do so. Plus, it is likely that the real estate agent will already know whether the seller is willing to budge, and if so, by how much. This can ensure you go in with a realistic offer and don’t insult the seller or waste your time.
Don’t insult with your offer
This leads on from the former points about doing your research and asking your real estate agent about the type of offer you should put in on the home you are considering. While you are trying to get the best deal for you, it is vital to ensure you do not offend the seller in the process. Going in with something that is way too low, i.e. more than 20% off the asking price, is only going to offend the person selling the property.
Make your offer more appealing
You need to remember that buying a property is a two-way transaction. It is not all about how good the deal is for you. You need to think about the seller as well. Why should they choose to sell their property to you over the other parties that may be interested? You need to ensure that you have something that is going to tempt a seller in. For example, if you are chain-free, a cash buyer, or you have a mortgage in place, you are going to be a much more attractive proposition for anyone that is selling their house.
Choose the right time of year to conduct your search
If you are not in a rush to buy a property and you have time on your side, you need to use this time to your advantage. After all, there are periods throughout the year whereby the property market is a bit slow. For example, this includes the school holidays or during the Christmas period. Most people do not look for properties during this time of year, which means you may be able to secure a better deal because sellers are frustrated with the lack of interest.
If you cannot get money off, ask for freebies
A lot of sellers may not be willing to deduct money off the asking price, but they may be willing to throw in a few free things to make the offer more appealing. For example, they may get new carpets fitted or they could offer the house furnished.
Invest in a professional property survey
Last but not least, it is so important to invest in a professional property survey when you are thinking about buying a property. A lot of buyers overlook this step, as they few it as an unnecessary step. However, professionals can pick up on issues that are not visible to the untrained eye. If they come across anything that is wrong with the property, you can use this as a bargaining tool to drive the price down. Not only will this save you money now, but it could save you a lot of money in the future too. A lot of people end up with a nightmare scenario on their hands when they skip the inspection stage, as they unknowingly by a property that has a ton of underlying issues.
If you follow the advice that has been provided above, you will give yourself the best chance of securing the house of your dreams for less. While there are no guarantees, there is often room for negotiation in the property market, and so it is up to you to explore this and make the most of it. It may be that you are not able to get a monetary discount, but you can get a few things thrown in for free. Either way, if you don’t ask, you don’t get, but make sure you do not insult with your proposition or you could end up ruling yourself out of the running altogether.