There is no denying that buying a home is expensive. In fact, for the average American, that new home will be the most expensive purchase they make in their lifetime. While becoming a homeowner does require a great deal of planning and financial certainty, you don’t have to be exactly rolling in the money to get that dream home that you’ve always wanted – provided your dream home is a reasonable one.
Buying a house is like buying anything else in life, only bigger. You should shop around and keep a number of options open until you come across a property that’s perfect for you and within your price range. The good news is that there are also a number of different ways that you can save money or get more bang for your buck when buying property, and here’s how.
- Keep an eye on the housing market
The market is a fickle thing, and you can expect for it to fluctuate a lot over the years. Keep an eye on different areas that you are interested in moving to and compare prices. If you happen to come across a once-in-a-lifetime deal, it’s a good idea to jump on it as soon as possible.
- Choose your real estate agent wisely
You might be surprised to find out that most people tend to go with the first real estate agent they come across, but this isn’t always the best idea. Choosing the right agent is about more than finding someone who can show you various homes for sale. It’s also about finding someone who is knowledgeable of the market and can give you the ins and outs of the areas you’re interested in moving to. For this reason, it’s always a good idea to interview a few agents and choose the one who you think best represents your interests.
Also, you should make sure to stick with an agent that specializes in what you’re looking for. So if you’re trying to find a starter home, don’t go with the person whose experience is primarily with luxury homes.
- Negotiate for the best deal
Too many people buy homes with the same approach that they take when buying something at the supermarket: they accept the sticker price at face value when they bid on the house. However, buying a home should be less like a regular transaction and more like a negotiation. There is almost always some wiggle room with regards to the listing price, so don’t be afraid to try and get a better deal.
A good rule of thumb is to shoot between 3% to 7% lower than the listing price for homes that have been listed on the market for an extended period of time. But if you’re bidding against multiple buyers on a home in a popular area, you might actually want to come up on the price a percent or two.
If you would like to learn more helpful tips that can save you money when buying your home, be sure to contact Carl, Mary, or Melissa at White Tank Properties today by calling 623-606-9354.