How To Get the Best Deal On Your New Home

When you’re planning to buy a new home, it’s obvious you want one that suits your needs. But you also want to make sure you are getting the best deal on your new home. Here are some things you can do up your chances of getting the house of your dreams at a very good price.

1. Get Your Finances in Place

This is one of the very first steps to take. It’s important that you start looking for a home only after you have gotten your finances in order. Your buying offer will be far more persuasive when it includes a mortgage pre-approval. Well-established real estate agents don’t show homes to potential buyers until they have been pre-approved. In some cases, this process can take several months, which is why it’s important to focus on getting pre-approval before you start house-hunting.

2. Make Sure Your Offer Isn’t Based On The Listing Price, But The Value Of The Home

Be aware of what the recent sale prices in that neighbourhood have been. This information will help you judge what the value of a house is. For example, if the price of a certain property is already lower than the market value, it isn’t likely the homeowners will be interested in an offer that’s below their asking price. If you find the price of a house that’s been on the market for quite a while, is very high, you may be able to quote a lower offer price and get a good deal. This is why it becomes important to work with a good real estate agent- they have good knowledge and the latest information about house sales.

3. Act Quickly Once You See Home You Like

When properties are listed on the market, they tend to get sold quickly. In a seller’s market, it’s important that your first offer be your best one. Taking too many chances only increases the possibility of you striking out. This is because there will always be buyers that make lower offers when they miss out on the first few properties they look at.

4. A Home Inspection Doesn’t Guarantee Price Negotiation

Most prospective homeowners are now waking up to the advantages of getting a home inspection done before committing to purchase a property. However, it’s a common misconception that a home inspection automatically opens the doors to price negotiations. If the building inspector’s report indicates there are major problems, it’s definitely acceptable for you to lower your offer price.

But if the market is very tight, you may not always get a credit. Today, it’s unlikely for sellers to carry out major repairs, and it’s far better to simply ask for a credit at the point of closing. This means you can hire a contractor and get the work done as per your needs.

The best way to improve your chances of getting a good deal is to be aware of the seller’s circumstances. Find out why they’re moving and whether they are in a hurry to do so etc. This can give you the upper hand when you are making an offer on a house you particularly like.

Whether you’re looking to buy or sell in the Kamloops area, for a greater probability of success you need a dedicated professional. I can guide you through the process and be counted on to protect your investment!

Categorised in: Buyers, Real Estate

This post was written by kamloopshomesearchcom